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Updated almost 3 years ago,

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1
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1
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Mootah Kpebane
1
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1
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Investors do you pay yourself interest?

Mootah Kpebane
Posted

Hi all,

Do you pay yourself interest for your contribution on your down payment? For example, I purchased a 9-unit complex that I had to put down 25% and the bank carries the rest. It is a cash cow to the point that it didn't make much of a dent to my tax bracket. How do I maximize the deductions on my tax? Could I be my own bank and charge some interest on the 25%?