I really don’t see why it wouldn’t be but with all of the off beat laws on the books I’m not trying to take a chance. This couple is building a new house, and just finished do small cosmetic repairs to the one they are in now. They are willing to sell sub to, ith a consideration when I sell it. I want to buy it with my sub to in my name, then sell it to my LLC, and pocket the diff. It seems kosher but I just need confirmation, I’m in Louisiana.
How do you plan on having your LLC pay for this?? I am lost here…
You buy in your name and the QCD it to your LLC for protection…unless your LLC has established credit history you will not get a loan using your LLC as the guarantor…
You might get better responses posting in the asset protection/legal forum.
Okay Bobo, I’ll re post. Yrush, that is just it, my LLC has no credit so I would have to personally guarantee the loan. Now what I am trying to figure out, is how can I personally purchase the property subject to, and then turn and resell to my LLC, where the new loan would be personally guaranteed by me. Now that I spell it out, it does sound kind a fishy.
You do not sell it to your LLC, you QCD it. Now you can call around and look for a broker that will put your LLC on the note but still use yourself as well. It may be possible, I do have a business card of one broker that can close properties in an LLC…He talks at my local REIA meeting…Have to look for his card…and can send you the name…just dont have wallet handy now…