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Updated about 5 years ago,
Partners going different directions
My partner and I bought a property with our LLC and attempted the brrrr method on it. Unfortunately the appraised value was not high enough to pull all the cash out. As result we both need to come up with 21000 each to pay back our private lender after the refinance. I do not want to put that much money into it my partner on the other hand is okay with this.
Is it possible for our company to sell the property to my partner and her husband ( not an arms length transaction ). Would any lenders be okay with this?
I am trying to get off the deed and bring some of my equity with me and my partner is trying to keep the property for her and her husband.
Thanks for your advice in advance.