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Updated about 6 years ago,
Keeping a house completely off my name...
Hi All,
I currently rent in the expensive market that is NYC , but intend on purchasing long distance investment properties with a partner very early in 2019. I had no intentions on buying in my market, but an opportunity has come out of no where for me to purchase a duplex $200k below market value through a program for municipal workers (thats me!).
It seems that this process may play out sometime in 2019, but the one catch is that you cant currently own any real estate in your name. This is to great an opportunity to pass up, however it is not a guarantee, and I would not bet my investing future on it. My partner and I have set up an S. Corp for our dealings, and plan to begin BRRRRing properties very early in the New Year.
Can anyone tell me if there is a way I can stay totally isolated from theses properties for the time being? Thanks