Troy Otte
Lend personal HELOC money to personally-owned LLC?
Hello BP community. New to the site and first post. Given the recent changes to the federal tax rules/rates, I have a question regarding funding investment properties with personal (HELOC) money lent to my personall...
Lori Lamkins
Use business money to renovate a property for split usage primary
I have an excellent opportunity to purchase an historic 1920s home on main street middle of downtown zoned residential and selective commercial use. I can qualify for loan have 20 % cash for down payment. My business...
Young Fenton
Tax return… sold commercial building
Hi,
We sold the commercial building and paid off the bank loan, plus personal money to close the deal.
1). Is this company expense?
2). How do we show bank loan pay off and our personal money?
...
Troy Rucker
Financing a Fix and Flip
I am currently exploring different ways to finance a fix and flip for a SFR. My current plan would be to fund part of the deal with my personal money and the other part of the deal with a portfolio lender. Does anyone...
Nathan Boulet
Bought First SFH without any of my personal money!
Hello Everyone,
I recently bought a SFH in my town of Timmins, Ontario without using my own money. The house is a 3brm, 2 bath SFH with unfinished basement. I got it for 55,000 and I believe the ARV is abou...
Chris Walters
Putting Personal Money into Your Business! Loan vs Investment
Hi everyone,Can anyone please provide advice as to whether it is best to put your personal funds into your company as a Loan or an Investment? I read a lot about the topic. Just to put you in context, this would be fo...
Nathan Salgado
private money personal loan vs bank secured personal loan
Hey Bigger Pockets! So heres my situation. Closing on a house may 21 but I want to back up my savings with a personal loan. Giving the current covid crisis was thinking maybe someone would want to earn some interest o...
Kumar R.
EIN for property LLC under Umbrella LLC
Hi,I wanted to check how this entity structure works. If there is manager-managed umbrella LLC and have property LLC with member as umbrella LLC. Can we get EIN for property LLC using name, address and EIN of umbrella...
Jessica Howell
Funding LLC's, deposits and draws
Hi everyone,
I will have 2 LLC's shortly. How can I go about transferring emergency funds between the LLC's as needed? What about depositing personal money into an LLC or drawing money from an LLC to put in a persona...
Rickie Mincy
Bank Account Suggestions
Hi BP!I will be closing on my first rental property next week and Im looking for suggestions on how to manage the bank accounts. Based on my research, Im going to open a checking account for rental income and savings ...