Skip to content
×
Pro Members Get
Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
ANNUAL Save 54%
$32.50 /mo
$390 billed annualy
MONTHLY
$69 /mo
billed monthly
7 day free trial. Cancel anytime
×
Take Your Forum Experience
to the Next Level
Create a free account and join over 3 million investors sharing
their journeys and helping each other succeed.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
Already a member?  Login here
Tax, SDIRAs & Cost Segregation
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated about 7 years ago on . Most recent reply presented by

Account Closed
  • Investor
  • Ridgefield, NJ
0
Votes |
19
Posts

Tax impact on Hard money - refinance - selling property

Account Closed
  • Investor
  • Ridgefield, NJ
Posted

Hi, I have purchased a 3 unit multi fam property under LLC (50/50 partnership husband and wife in NJ which is Non-community state) and financed (100%) through hard money lender(personal guarantee). After the rehab was finished we did a quite claim deed to personal name since that was the only way bank can refinance the loan as conventional investment loan. We now lsited the property for sale and we currently own it under our personal name after refinance. (so LLC does not own property

What are the tax impacts? I have met several CPAs but they say they are not sure. rehab cost was big due to contractor causing delays here and there so I am not expecting much return but at least I wanted to understand potential tax impact

Loading replies...