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Updated almost 4 years ago,

Davian M.'s profile image
Davian M.'s profile image
Davian M.
  • Rental Property Investor
  • from Florence South Carolina
  • Member since Jun 13, 2013
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User Stats

36
Posts
4
Votes
Davian M.'s profile image
Davian M.'s profile image
Davian M.
  • Rental Property Investor
  • from Florence South Carolina
  • Member since Jun 13, 2013
Connect
Davian M.
  • Rental Property Investor
  • Florence South Carolina
4
Votes |
36
Posts
Creative Real Estate Financing

FHA 203K Loan purchase from an LLC

Davian M.
  • Rental Property Investor
  • Florence South Carolina
Posted

Hello,

Our LLC made a cash purchase on a mixed use building. We wanted to know if we could use a FHA 203K loan in our individual names to buy the building from our LLC?

To give you some context we purchased the building under value with a decent amount of equity. Going the FHA route to purchase the building at full value you would give us a profit to fix the commercial unit.

Is this feasible or does anyone have any experience with this method? Thank you for any insight we greatly appreciate it.

Dave

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