All Forum Posts by: Paul Gilo

yep... id fha it up. seems like cheapest money out there.

yeah... i think he wants cash to make sure he does not have to report it. 

does he invoice you? or is this all informal?

... alternatively if I take the 100k and make a real estate investment. I would want to do it through my LLC, I would imagine. So how do I fund the business with my money and then get it back into my personal account?

Thanks.

Hey everyone. First post... :)

So I have a question about how to properly handle the bookkeeping and finances in a business. I have a few ppl that are interested in borrowing money from me for real estate purposes, but i want to funnel the interest I get from that money into my business to be able to expense it out or just keep it separate as business income.

So I do have a single member LLC already set up for my software development business. Well, the income is low to none existent, but its there. I set it up with the hopes of doing a bunch of c2c work, but that never panned out... so its there and I will be filing 2nd year taxes on it.

I have had a couple ppl approach me to borrow money. Both good old time friends.

1. Bought a house and got into a deal with a hard money lender, due to lack of credit history. Now hes offering me 9% on my money, since hes paying more than that. 

2. The guy flips house. Buys them off the auctions, fixes, and sells for profit. Hes really doing me a favor by offering me the opportunity to get in and make 10% on my money.

So with that being said. Lets say I lend 100k of my personal money, and this money pays 10% a year. Can somehow funnel this money through my LLC so that the interest earned becomes company income and and the principal comes back to me?

Can someone provide some guidance on how this should be handled?

And I dont have an accountant or a lawyer to handle this for me. I guess thats why I'm here :)

Thank you!!!