How Do You Buy Back Your Property Through Your LLC Or Corporation
I just recently refied a duplex as a duplex. Right after that I submitted all the condominium paper work (ie HOA, declarations, etc) and have turned them into two seperate condos to be sold.
If I do not want to wait for them to sell can I buy these back through my LLC or Corporation? Please all input is welcome. Thank You.
Naturally to pull the equity out immediately and for protection purposes
If you sell them (to your corp.), you will owe taxes on the gain and will owe transfer taxes. I think there are other ways you should look into asset proteciot rather than triggering a sale with all the related taxes.
actually all you can do is simply, from a mortgage banker propesctive, is do a rate/term refi, no cashout on the properties, and at closing put the LLC onto title.