Can I buy as B and C for no down?

[Joe Foster]

Does anyone know the specifics as to if my LLC can be the B buyer and simultaneous close with me as C buyer so i get my C price financed and keep my mark up from B to C buyer, or at least get it back. So I put up the down and get it back from title in the form of a check, hints no or less money down on the purchase and possibly getting the financing that I would not qualify for otherwise?

This is to purchase and hold.

[Jon Holdman]

So, your plan is to get a contact between a seller and your LLC at $60K, then have the LLC sell it to you for $90K. You get a 66%LTV loan from a bank, putting $30K down. After it all closes, you have the $60K loan and the $30K back in cash.

No way will this work.

Assume for a second that you actually pull this off. Its absolutely loan fraud because there is an undisclosed transaction between the seller (your LLC) and you where the LLC hands the $30K back.

Where do you get the $30K for the down payment? The lender is going to want to see that money in your accounts for three months.

How do you get a conventional lender to lend on a transaction where the seller doesn't own the property? Wholesaling usually requires a cash buyer or a flexible lender such as a hard money lender.

Do you really think the lender won't figure out its your LLC?

Find a seller who's willing to sell with 100% owner financing. Find a seller who's willing to lease/option. Do a land contract. Those are creative techniques. This is fraud.