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Buying Houses "Subject To" Using Corporations or LLCs
A less thought of but very powerful advantage to buying houses "subject to" the existing financing is the ability to buy houses using your corporation or LLC.
Since you are not qualifying for a new loan your corporation or LLC can be the buyer on properties that you are purchasing "subject to" the existing financing.
If you are concerned about Asset Protection and/or privacy of ownership, using an entity can prove to be very helpful.
Often real estate investors will use a trust--in addition to their corporation or LLC--when buying a property "subject to" the existing financing. This is NOT because a trust will not trigger any due on sale clauses, but because it can add an additional layer of asset protection by keeping your name off public record.
See your attorney for more information about how to structure an asset protection plan for you unique situation.
Until my next post,
James
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