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| Re: property re-fi | |||
| Re: property re-fi -- paul/texas | Post Reply | Top of Thread | Forum |
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Posted by: The King ® 12/18/2002, 10:07:29 Edit |
1) Would it cause accounting/tax problems going into and out of my name? If you do it for no consideration, id est no gain or loss, there can be no tax consequences. 2) do most rehabbers re-fi properties in their own name? It is difficult to refinance any other way. Most hard money lenders will not approve a loan unless they have a live human being who will sign personally. But what do I know? This King has not been to a bank for a mortgage since 1983. 3) I am putting together a mail out targeting private lenders so should I wait to see if I can come up with someone who will let me keep properties in the LLC's name? You might/could accomplish that, as a pure equity-based loan with a "private" investor. Otherwise, remember CRA ##16: DO NOT BORROW from banks, insitutions or the government. The are NOT the solution. They are part of the problem. The King |
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