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2 September 2016 | 5 replies
I was looking to do a cash-out refi to take money out while locking in lower rates, but now that the properties are in the S-Corp, I am unable to transfer back into my name to refi without creating a taxable event.I am wondering if there are any strategies to moving these out in a tax advantaged way (I expect there will be some cost to doing so).Some strategies that have come up in other conversations are:1) Form LLC and issue a note to the S Corp with the properties as collateral... then if S Corp defaults on the note... the properties will be transferred with out triggering taxes (although cost basis would remain the same)2) Have appraiser apply discounted valuations on properties due to lack of marketability (I am only a 50% owner of the S-Corp).
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1 September 2016 | 0 replies
We need an attorney and title company in northern FL who knows how to handle the transfer of title and legalities there.
1 September 2016 | 1 reply
Draw up an option to purchase that allows you to sublet the property or do a land contract if they are legal in your area for the property if he is unwilling to transfer the deed without getting paid in full so you both have something in the deal but benefits as well.
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25 August 2017 | 12 replies
Some states have transfer fees, etc.
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2 September 2016 | 4 replies
Can I legally sell or transfer (which is best?)
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5 September 2016 | 3 replies
But to answer your questions 1) Either by wire transfer or cashiers check2) Maybe depends on your state3) The condition of the property, how much you can buy it for, what is the ARV, many more questions.4) YES
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26 September 2016 | 15 replies
Transfer it to a custodian that allows self-directed accounts.
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2 September 2016 | 0 replies
The PM uses Appfolio and when trying to set up the ACH transfer to deposit rents to a bank account in NY, Appfolio (which is based in CA) stated to my PM that they can not do ACH transfers to NY because of 'NY Banking Laws' but they didn't provide to her further information on that.Has this happened to anyone else whose PMs use Appfolio or other similar app to get deposits from Out of State to NY or any other state?
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7 September 2016 | 2 replies
Looking for some advice on this - I was listening to a podcast recently (it may have been the PB, but I listen to a lot) and one of the guests mentioned that they find off market houses by getting lists of homes that have recently been transferred in a will.
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6 September 2016 | 2 replies
Seller financing isn't always a good option because banks specifically forbid it, because the buyer has to take a deed transfer and that would cause a lien position loss on their end.