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Updated over 6 years ago,
Using HELOC to buy real estate through corporation
I am getting HELOCs on my primary residence and a rental property, that my husband and I own under our names. I would like purchase a multifamily property using the HELOC funds as a down payment. I would like to purchase the multifamily property through a corporation that I will form. Can I lend the HELOC funds to my corporation so that it can buy the multifamily property? Would the corporation have to be a holding company? Or can it be an operating company? Does anyone have any experience with this either in the US or in Canada (ideally, Canada)? Thank you! :)