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Updated almost 5 years ago,

Nicolas Ake's profile image
Nicolas Ake's profile image
Nicolas Ake
  • Real Estate Agent
  • from Akron
  • Member since Aug 23, 2019
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User Stats

35
Posts
11
Votes
Nicolas Ake's profile image
Nicolas Ake's profile image
Nicolas Ake
  • Real Estate Agent
  • from Akron
  • Member since Aug 23, 2019
Connect
Nicolas Ake
  • Real Estate Agent
  • Akron
11
Votes |
35
Posts
Tax, SDIRAs & Cost Segregation

HELOC in a LLC, tax question

Nicolas Ake
  • Real Estate Agent
  • Akron
Posted

My 50/50 partner and I intend to use one of his properties as a HELOC for a downpayment on a hard money loan. Should we transfer the property into the LLC and then open the account/HELOC? My current understanding is the best practice is to keep business/personal finances separate.Does anyone have any advice?

Thank you

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