All Forum Posts by: Sean Cassidy

Do you know why the appraisal came in so low? Did you personally look at comps in the area to get an idea of the true value of the house? An appraiser is generally going to base the value on the most recent sale of the property if it was recently sold, then comps. 

I've run across this problem working in rural areas where comps are hard to come by and the appraiser wants to value it just above purchase price.

Follow up question as I thought of it after posting.... 

Would this save me from seasoning the title on other buy and holds? Could you in theory at least, buy in the LLC name, rehab the property to be held, then sell it to yourself in say 3 months for a profit to the LLC? Kind of like a refi, or even sell it to another LLC that you own for a profit?

 Before anyone thinks I'm getting sharky here, I'm not trying to screw anyone out of money. Just wondering out loud if you could scoot around the title seasoning by selling to yourself.

Hello all,

Long time listener, first time caller. Love the show, big, yuge fan. Has given me ideas and I've been able to use some of the advice handed out here to get things done. So again, thanks all. 

That said, I have a question I don't think (or haven't found) has been asked yet. I own real estate, buy and hold stuff and I've done a few rehabs here and there as an opportunistic kind of thing. But, I've never personally owned anything. Always in the LLC.

 So this means I could still qualify for a first time home buyers program right? That's the easy one.

A little trickier I think, if I purchase a rehab in the LLC's name with private money or even cash, then rehab it, can I sell it to myself using a first time home buyers program? Can I flip it to myself for a profit?