Skip to content
×
PRO
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
$0
TODAY
$69.00/month when billed monthly.
$32.50/month when billed annually.
7 day free trial. Cancel anytime
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
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 over 6 years ago,

User Stats

53
Posts
20
Votes
Skip Reath
  • Investor
  • Belmont, MI
20
Votes |
53
Posts

Advice needed on reducing ownership of condos

Skip Reath
  • Investor
  • Belmont, MI
Posted

Wanting to know if anyone knows of a way to reduce ownership % in condo complex. I currently own 10 units in a 35 unit complex. Have 4 units under sales contract but finding difficulties in getting buyers financed. Fannie's rules require no more than 10% can be owned by a single entity. Is it possible to transfer ownership to another LLC I am the sole member of to reduce the number of units owned by my current LLC? Would this satisfy Fannie's requirement or is it not going to help? Don't really want to transfer ownership to other persons as that creates all sorts of other problems such as tax implications, insurance implications, legal issues etc. Any ideas?

Loading replies...