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Updated about 4 years ago on . Most recent reply

User Stats

19
Posts
16
Votes
Roman A Elizarov
  • Rental Property Investor
  • Chicago, IL
16
Votes |
19
Posts

How to refinance property in a right way?

Roman A Elizarov
  • Rental Property Investor
  • Chicago, IL
Posted

Dear professional investors! I have a question. I bought a house for my own cash, rebuilt and remodelled it and now I want to get finance on this house.

The problem is: the house is on my company S-Corp, it is purchased on my company and all the rehab was made by a company and it seats on its balance. When I asked some lenders if they could finance it they reply that I could only get loan on me as a person. In this case how can I buy another house using this money lended and put it as an asset of S-Corp? And what is the taxation in this case for the previous house and for the new one? Both houses are "buy and hold"  (rental properties). 

Thank you!

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