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Updated about 8 years ago on .

User Stats

6
Posts
0
Votes
Robert C. Bess Sr.
  • Investor
  • Athens, AL
0
Votes |
6
Posts

Personal to Corporate Credit Transfer

Robert C. Bess Sr.
  • Investor
  • Athens, AL
Posted

Hello everyone.  I am not sure how in depth this has been discussed but I have a problem I am trying to navigate through. 

I have several rentals that I have had a few years.  I could not say that I was a professional investor, however, I am now trying to take the next step.  I incorporated in January but in setup only.  Meaning I did not change the properties into the Corporate name or mortgages.  I have been in contact with a couple of banks that have given me the way forward to establish a relationship (credit) with them under the business name.

My problem is after doing a "QuitClaim Deed", how would I go about changing the mortgages into the  business name without refinancing and paying closing costs on each over again.  The interest rates are fine so there really is no need for a refi.  Is this even possible or do I just have to start from here with new properties under the corporate name?  Any advice would be great.