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Updated over 4 years ago on . Most recent reply

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199
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Simon Obas
  • Rental Property Investor
42
Votes |
199
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Question about purchasing with LLC

Simon Obas
  • Rental Property Investor
Posted

Hello. If I buy a home using an LLC for a cash deal, can I then switch the home out of my LLC to my name ? I'm using a hard money lender to fund this deal and they told me I must use an entity to make the purchase. My agent is telling me it's going to be hard for me to refinance down the road (I'm doing a Brrrr) if I use an LLC. Currently, my name is on the purchase agreement, so I would have to remove my name to use an LLC. Is that switch a matter of my agent typing up a new contract?

Most Popular Reply

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Greg Scott
  • Rental Property Investor
  • SE Michigan
5,651
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3,938
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Greg Scott
  • Rental Property Investor
  • SE Michigan
Replied

It would be easier to simply find a different hard money lender. I've bought 9 properties using hard money and never had to put it in an LLC.

  • Greg Scott
  • Loading replies...