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Transferring Ownership of LLC
Hello ALL.
I am a wholesaler about to make a 6 figure profit in DC.
I do not want to Assign my rights bc then it would show up on the HUD for the Seller to see and might scare him to back out.
I also can not do a double close bc it is illegal in Washington DC and it would cause me to pay 2x DC transfer Taxes, which would add to -25k.
I could use transactional funding, but that would cut into my profit substantially more than double close and would rather not.
The Property is under contract under a random LLC name I created for this deal.
I heard about just selling your LLC rights of ownership, How do I do this and does this normally show up on the HUD statement at closing?
Any Techniques you guys know about would really help.
Much thanks.
Raphael Vargas