The Leading Web Directory of Real Estate Investing Resources that will teach you how to Make Money by Investing in Real Estate.
The World's Largest Directory of Resources for Real Estate Investors
Home Courses Books Tapes Software Services Gurus

Re: property re-fi
Re: property re-fi -- paul/texas Post Reply Top of Thread Forum

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


Post Reply | Recommend | Alert Where am I? Original Message Top of Thread Current page


© 2001, 2002 The Real Estate Investing Depot