BRRRR - Buy, Rehab, Rent, Refinance, Repeat
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback
Updated over 4 years ago,
Transferring Deed in Pennsylvania
So, I did my first Single Family Rental BRRRR in Pennsylvania. Everything worked out awesome following Brandon and David Green's Advice.
I bought the property in my name, completed the project and refinanced it. So far so good, then couple of months later when I asked my lawyer about transferring deed to LLC, I found out that 2% transfer tax will be incurred again even though there is no dollar transaction involved.
On second thought, may be I should have just bought the property under LLC, but I am not sure if I can do Cash out Refinance after seasoning period. Lots of Banks have restriction on Cash Out Refinancing.
Anyone, who have done this in Pennsylvania has any advice on how to go around doing this ?
Any insight would be greatly appreciated.