All Forum Posts by: Tim Speasl

Thanks for your advice Jonathan & David. My only previous experience with lenders is with mortgages on homes I've owned & occupied, not REI properties. Refinancing seems to be the way to pull out most of the equity to free up and use for other deals. I'll check with my lender if they would allow the quit claim in favor of the LLC.

Within the past year I purchased a new home in the same metro area as my former primary residence (Charlotte, NC). I had every intention of selling that house and investing the cash in a multifamily property, however, MF properties are very difficult to find at the moment. Moreover, since this would be my first venture in REI, I've been thinking it might be better to start off smaller with something I already own free and clear. I've been told that lenders would probably not fund the sale of the home to an LLC owned by me. Any suggestions on how I can unlock 80% or more of the value of the home without "selling" and reap the same tax benefits as if I had sold?