I have been thinking of doing something along these lines, and my searches have landed me here. It seems like there are some knowledgeable people here, so I figure I'll ask.
I currently own a condo, and am looking to purchase a home. I would like to keep the condo, but was looking to get some equity out, and would eventually like to own several rental properties. The purchase of the new home is completely separate, and not reliant on the equity of the condo. If I form an LLC, can I sell the LLC the property at market value, or even less, gain the equity, and then run the condo through the LLC? My hopes would then be to build business credit for two years and begin borrowing to fund additional properties. This seems to make sense to me, but I am not too knowledgeable in this area.
Thank you
