Staring out and starting up a business
Morning all,
I need some advice on how I should start up my REI business. I will be primarily be doing buy and hold with the occasional flip. I will be financing the purchase and rehab through a combination of home equity line of credit and stock sales. My plan is to take out a conventional load after all reparis are complete then transfer the property load to the to the LLC. I want to make sure I get the correct tax breaks and am not sure how it works with the personel and LLC finances being mix up. Or should I not even worry about the LLC until I have multiple properties.
My goal is to start building secondary income for when I retire.
I hope my question is clear,
Damian Mandina