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Updated over 4 years ago,
Can I personally purchase a house from my C Corp
We have a new construction SFR project in Oakland, CA. We purchased it under our C corporation where my husband and I are the only shareholders. We used a hard money lender. Project will be done in about 1 month. Is it possible to purchase the home from our C corporation so we could get out of hard money loan and receive some cash back? Or would we have to refinance it? I am told with a refinance it would need to be seasoned in our names for at least 6 months before we can do a cash out, is this true?
Thank you in advance for your advice!