Skip to content
×
Try PRO Free Today!
BiggerPockets Pro offers you a comprehensive suite of tools and resources
Market and Deal Finder Tools
Deal Analysis Calculators
Property Management Software
Exclusive discounts to Home Depot, RentRedi, and more
$0
7 days free
$828/yr or $69/mo when billed monthly.
$390/yr or $32.5/mo when billed annually.
7 days free. 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.
Innovative Strategies
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 7 years ago on . Most recent reply

User Stats

128
Posts
32
Votes
Christopher Dunson
  • Investor
  • Las Vegas, NV
32
Votes |
128
Posts

Agent Bringing Money for 4 Plex Close

Christopher Dunson
  • Investor
  • Las Vegas, NV
Posted

One of my real estate agents put in an offer on a 4 plex, I am HML financing, and we are planning on her (the agent) bringing the cash to close. Contract is already accepted, but not yet in escrow. I realize the agent cannot have an interest in the property, so we are looking for the best possible solution business wise, tax wise, and cost efficient before during and after the transaction. Some things to consider as well as options I've thought up to create the best method are listed below:

1)Giving the contract to another agent in the building while still keeping the majority of the commission.

2)Units have their own parcel #'s, so same day close of her purchasing on separate contract one of the units from my LLC in turn giving me the down payment to close the financing with HML.

3)Both of us have our own individual LLC's in which we are the 100% sole owners.

Honestly I have so many ideas going through my head right now but in reality, I don't know how to work around this situation. Some creativity is definitely needed. Thanks in advance.

  • Christopher Dunson
  • Loading replies...