Posted by Michael Morrongiello American Note on June 17, 1999 at 23:34:49:
You didn’t mention whether your home that you want to place (deed) into the corporation was owned free & Clear of any debt or do you still owe on it?
Let’s assume it is Free & Clear. If that is the case there are many Hard Money or Equity only oriented lenders that will lend you money against the real estate collateral. You may not like the rate & terms but then again they will be lending you the funds when other may not.
If you can invest those funds and earn a greater rate of return by having access to those funds, then it works out for everyone. As you track record becomes proven, they will typically get more flexible with you on the terms.
Also NOTE: These same HARD MONEY Lenders will lend you funds to acquire properties as well and use the property you wish to buy as the collateral.