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Updated over 3 years ago on . Most recent reply

User Stats

13
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6
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Jeremiah Lewis
6
Votes |
13
Posts

Selling my house to my corporation?

Jeremiah Lewis
Posted

Not sure if I put this in the right category. Anyway, I read, all I do is read and I have recently stumbled into something that sparked an idea but I guess I'm not sure if it works the way I interpreted it? Scenario: I have my SFR I owe $200,000 on, it last appraised at $257,000. I want to turn that into a rental, however I want to form my corporation first and sell my house to my corporation. Can I do something like okay corporation is buying the house from me, I require

$10,000 down payment on closing from the sale price, and then just keep buying houses in my name and selling them to my corporation? Obviously the $10,000 thing would only work if there was known equity in the home. How does that work with a bank? Would you basically walk in and be like hey this is my corporation and I want to buy my house from me, would they just use all of my tax returns etc to qualify my corporation to purchase from me? So confusing. Thanks y’all

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