HELOC closed - best approach?

[Alex Morrison]

Hi!

I’m an investor out of Duluth, GA - which is in the suburbs of Atlanta.

I just recently closed on a nice HELOC (224k credit, 3% APR, interest only) to use for financing some upcoming deals.

My question for the legal professionals here- the HELOC is under my personal name (it's taken out against my primary property), but I'd like for upcoming fix & flip projects to be under a different LLC for liability sake.

Are there any restrictions on using that HELOC and putting the property under the LLC ownership? I'm assuming "I" can buy a home for the LLC.

Or does the money need to transfer to an LLC owned account before being used? Interest starts accruing the day credit is withdrawn.

I have some assumptions here, but don’t want to trip up.