Tax question (sell from an LLC or quit claim sell as an indiv)

[MIke Williams]

Hi my business partner and I have a 2 family in OH. Having a devil of a time getting a cash out refi because the post rehab value is only about $75k. Decided to go another route ... My thoughts are to withdraw from the LLC and buy the property as an individual from my partner. My questions is should my partner sell it to me from the LLC or quit claim the deed to himself as a individual then sell it to me. Trying to determine tax obligations / benefits / drawbacks to both scenarios. Also open to other suggestions. Thanks!

[MIke Williams]

Originally posted by @Steve Vaughan:

Private money. Lots of retired folks earning zip in savings vehicles that would love a fixed 10yr hold at 7% or so. Maybe up to 70% of value.

My lenders developed over time and approached me with the idea so I don't have any magic ways of sourcing them, just another arrow in your creative quiver.  Good luck with your deal!

 HI Steve,

Thanks - very interesting!  I'm going to investigate this option.  Much appreciated!