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Updated about 8 years ago on . Most recent reply

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5
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Andrew Nash
  • Navarre, FL
0
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5
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Can I purchase a property from my LLC?

Andrew Nash
  • Navarre, FL
Posted

I want to use a method similar to BRRR to purchase a property using Realty Shares. The issue is, Realty Shares will not lend to an individual, only a LLC. So here's my plan; My LLC purchases a SFR using funds from Realty Shares and 20% down from my LLC, I then rehab the home using either funds from Realty Shares or from my LLC. Once the rehab is complete, I then purchase the home using a conventional loan, in my personal name, for the original purchase price + rehab and finance cost. This shouldn't create a taxable event because my LLC isn't making any money on the transaction. Can this be done?

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