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Updated over 8 years ago,
James MasottiPoster
Pro Member
- Rental Property Investor
- Washington Township, NJ
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Paying off personal contributions with business proceeds
So I'm just getting started with doing buy and hold under my LLC. My first deal didn't go nearly as well as expected, so I still have quite a bit of my own personal funds in the deal as well as outstanding balance on a business credit card I set up when I formed the LLC. In order to make sure I keep the protections of the LLC in place, what are my best options for paying this credit card debt back and recovering my initial investment?