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Updated about 3 years ago on . Most recent reply

User Stats

76
Posts
23
Votes
William Stewart
  • Rental Property Investor
  • Fort Mill, SC
23
Votes |
76
Posts

Cash out or sell to LLC Hard money Private

William Stewart
  • Rental Property Investor
  • Fort Mill, SC
Posted

I'll explain this as best I can. I have a property owned free and clear. Manufactured home deeded to the land it is an investment property in my LLC. I am trying to pull out some equity to reinvest in more property. I had one company ready to go, but they wanted to do an adjustable rate. At the current time that would be unwise in my opinion. Having trouble finding any other companies willing to loan on it.

A friend of mine suggested that I put it back in my personal name and try and get private money or a hard money lender to sell it to my LLC. Or vice versa keep it in my LLC and sell it to myself? Is this something possible? Gross annual rent 20-24k zillow property estimate is 167,500. Looking to pull out 75k credit is around 680

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