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Updated almost 12 years ago,
Giving loan to a Real Estate LLC
Hi All,
I am new to RE investing. I recently opened a LLC and purchased a single unit property (cash purchase). Goal is to have 4 or 5 units at the moment.
My question:
Is it ok to give out a loan (from my personal savings) to this LLC as start-up capital and charge interest from it?
What are the legal implications?
What are the tax implications?
Liability implications ?
Any input would be helpful.
Thanks!
Shaw