Flipping Question
I am currently awaiting a short sales approval. Everything looks good and I have a list of investors ready to buy. My question is how can i flip the property over to my investor without the bank finding out? I have an LLC company and I once remember reading something on this thread regarding making the investor a member of my company. How can I do this? Thanks :-S
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You must lay the proper foundation. If it was your intent to assign/flip, the named Purchaser should have been the LLC.
You still might be able to get the property in the LLC by doing a quit claim deed. Talk to a real estate lawyer in your area.
Q
Yeah, My company name is the purchaser on the contract, my question is how can i put my investor on?
Somewhere in your LLC's operating agreement, you should have addressed how to include/remove new members.
If you don't have a working knowledge understanding of LLC's (used a boilerplate registration form) it is prudent to sit with an attorney and a CPA and fashion a prototype that meets your business/investment needs.
stupid comment - why not ask the bank to name the investors llc as the buyer or sell the new investor your llc or form an llc and then ask the bank to name the new llc as the buyer and then sell the new llc to the new investor (and avoid taxes)