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Updated over 5 years ago,
Cash out seasoning name on title
I built 4 duplexes (8 parcel numbers) to sell in my s corp and ended up renting and keeping them. I've rented them for about a year now, no mortgages. I want to cash out, still own them (not the wisest thing to have them in an s corp I know) and use money to build 30 units next spring. Each unit of the 8 will only show a $20,000 gain so not a big tax ding. For the most favorable mortgage terms do I have to quit claim deed the titles into my personal name and have them in my name for 6 months? I do want to slowly get the get the property out of my s corp (s corp was put together to flip homes and I don't do much of that anymore) Can I quit claim deed properties into a different llc that's not taxed as an s corp and be able to cash out refi in 6 months with the most favorable financing and not have it in my name? Thanks