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Updated 7 months ago on . Most recent reply

User Stats

100
Posts
37
Votes
David Roque
  • Investor
  • San Diego, CA
37
Votes |
100
Posts

Help with 16 units and Wrap Around Mortgage

David Roque
  • Investor
  • San Diego, CA
Posted

I seeking to acquire a 16 unit apartment complex.  The seller is willing to do a Wrap Around Mortgage.  Knowing that this can trigger due on sale, would it still be advisable to the the Wrap?  I plan on rehabbing the property and refi within a year.  

The property is held in a living trust, could I add my LLC as a beneficiary to the trust as to not trigger due on sale?

Property is in CA, I have an agent but would I need an attorney to review the transaction?

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