Love this strategy, I have a house hack I was going to BRRRR, but after seeing this I’m going to sell it to LLC I own instead for better loan terms and loan amount.
Keep in mind I could only sell it to myself because I didn't own it. The Novation keeps it in the sellers name. So I'm not confident you can do this if you already own the property in your own name
@@DevinMorenoInvesting Where does it say I can’t sell it to an LLC I own? I asked a title company, and they seemed to think there was no reason I wouldn’t be able to as long as I paid the transfer taxes?
@@Andrew-cr8in I'm not saying that you absolutely can't. I'm just not confident that you can. The reason would be easy abuse. You are on both sides of the signing table and you can come up with any sales price (exactly like I did to manipulate this trick). Most people deed it to their LLC or refinance it to their LLC but it would be interesting if you could sell it to your LLC. I'm interested in looking into it as well
Love this strategy, I have a house hack I was going to BRRRR, but after seeing this I’m going to sell it to LLC I own instead for better loan terms and loan amount.
Keep in mind I could only sell it to myself because I didn't own it. The Novation keeps it in the sellers name. So I'm not confident you can do this if you already own the property in your own name
@@DevinMorenoInvesting Where does it say I can’t sell it to an LLC I own? I asked a title company, and they seemed to think there was no reason I wouldn’t be able to as long as I paid the transfer taxes?
@@Andrew-cr8in I'm not saying that you absolutely can't. I'm just not confident that you can. The reason would be easy abuse. You are on both sides of the signing table and you can come up with any sales price (exactly like I did to manipulate this trick). Most people deed it to their LLC or refinance it to their LLC but it would be interesting if you could sell it to your LLC. I'm interested in looking into it as well
This is real and mind blowing...let's link up so you share more info.
feel free to reach out at devinmorenoinvesting@gmail.com or on my website devinmorenoinvesting.com
This sounds crazy. Is it legal? ((Not talking junk, it seems to be working the system))
Yes it is legal. I actually did this on a deal like this already earlier this year. Everything was checked by lawyers and title companies
@@DevinMorenoInvesting okay! Something for me to keep in mind as I continue on my journey