Creative Real Estate Financing
Market News & Data
General Info
Real Estate Strategies
Short-Term & Vacation Rental Discussions
presented by
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Tax, SDIRAs & Cost Segregation
presented by
1031 Exchanges
presented by
Real Estate Classifieds
Reviews & Feedback
Updated about 8 years ago,
How to refinance out of LLC owned property to personal
hi this is my first post on here. I've followed the site for a while and was alway able to find my answer through someone else's post, but this one is a bit tricky.
I purchased a home that I intended to flip through my LLC with a hard money loan. Once we got going we ended up finding a break in the sewer line in the foundation and an active water leak. So long story short the projected profit turned to 0. Now I want to hold the property instead of sale. How would I refinance out of it? Loans with an LLC are pretty difficult especially with it being 9 months old. Can I jus write up a contract with all my costs buying it from the LLC? The house is in Texas. Any help would be appreciated