Owner Financing (by Ron [RI]) Jan 11, 2004 6:47 AM
        RE: Owner Financing (by tyler [nc]) Jan 11, 2004 9:50 AM
        RE: Owner Financing (by Sean [CA]) Jan 11, 2004 5:26 PM
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Owner Financing (by Ron[RI])
Posted on: Jan 11, 2004 6:47 AM
Message:
I want to pay off my current mortgages on my rental properties with monies I have secured at much lower rates. Has anyone got experience with writing a mortgage to one of your own properties? I would like to do it without having to set up my properties in a trust or LLC. Can this be done and how? --209.213.94.245


RE: Owner Financing (by tyler[nc])
Posted on: Jan 11, 2004 9:50 AM
Message:
i don't think you can loan money to yourself by encumbering property owned by yourself.

technically, the property would have to be in another entity. you could set up single member llc (yourself) so that for tax reporting you'd still just do Schedule e on your 1040. --64.12.96.135



RE: Owner Financing (by Sean[CA])
Posted on: Jan 11, 2004 5:26 PM
Message:
But the other entity would then have taxable interest income.. What is the benefit?

Sean --63.192.100.179