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Updated over 2 years ago on . Most recent reply presented by

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Wilson Liu
  • Member since Mar 31, 2019
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Wilson Liu's profile image
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Wilson Liu
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Wilson Liu
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Tax, SDIRAs & Cost Segregation

Contributing property as capital in LLC?

Wilson Liu
Posted

I own a real estate LLC with a partner. He just personally bought an investment property (closing today) and we're thinking about working on it together. Can he "contribute" the property as capital and then take a cash distribution out of the LLC? He used hard money to close and could just pay the loan off right away. Would we use a quit claim for $0? I assume if we use the LLC to buy it would create some tax bills.

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