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Updated over 4 years ago,
Exit Strategy Question for Buying Land Contract
Hello, I'm looking at 2 duplexes to be purchased on land contract. They are pretty much at retail market value or slightly bellow.
Both seem to be in decent shape and VERY long term tenents (20 and 30 years).... that being said, rents MUST go up and the market should support it.
For an exit strategy (if things go south) can I purchase them under an LLC and then simply sell the LLC? If I purchase them personally I may be locked in a little tighter and have a harder time moving them on.
For context, I'm in Michigan.
Any advice is appreciated!
Thanks!