I own a small company that buys and sells raw, vacant, rural land. For 4 years, we've bought and sold, exclusively for cash. We're scaling up our business and want to utilize OPM to help us scale.
I had an informative talk with a local credit union lender in an area we're looking at buying 80 acres in. He said that he cannot lend to a corporation for speculative purposes, but that he CAN lend to an individual for ag purposes, and if that individual decides to sell the land to Farmer Brown, and it sells for higher than I bought it, then bully for me.
I''m trying to find some information about the process of borrowing money as an individual, so that my corporate entity can buy and sell the land. Does the individual become the Grantee? Does the individual then have to transfer it to the corporate entity? Who then becomes the grantor during the sale of the land? Me, the individual? Or the corporate entity? And how are the funds tracked through the whole process?
I know I'm asking a lot of questions in one post. I'm happy to read any book, blog post, or anything on this topic. I'm new to this portion - I really feel that once we crack the secret to using OPM, we can really achieve a new level in our business. Thanks for any help you can provide.
