Alyson Wolfe
Transferring money into and out of an LLC bank account
Hi- I have recently formed an LLC with my partner at the request of a hard money lender in order to get a loan, they also want to see my personal funds in an account under the LLC. If I transfer my personal funds into...
Has BiggerPockets Money become too focused on FIRE (financial independence, retire early)? For the past seven years, we’ve been bringing you shows highlighting the journeys of those who left their jobs to enjoy early ...
What should you do if you suspect financial infidelity from a partner? Money is a taboo subject in many marriages, and it doesn’t help that some spouses take a hands-off approach to personal finance. As you might imag...
Yaritza Rivera Serrano
Questions about profit after flipping a house
I bought a house using a personal loan. My partner and I flipped it and sold it. We are splitting the profits but he said that I can’t get the money I paid for the house using the personal loan plus the monthly paymen...
Bret Weigel
Partnership Setup-Splitting of equity based on duties/investment?
Hi all, I had a question regarding partnerships and equity % in said partnerships. In this example Person A would simply be the money guy and a silent investor. Person B would be in charge of finding properties that m...
Bill Mitchell
How to spend money you EARN in an LLC
I am gearing up to set up an entity in the form of an LLC. My question is, when you earn money that is made payable to your LLC, how do you spend it?
You can't commingle funds, so how do you spend the money y...
Mary Jay
What is the proper way to
Can you guys help me out with this?I know that the rents deposited into my LLC bank account can not be just transferred into my personal bank account (Because if I do it then it pierces the corporate veil) 1) But what...
Nicholas Acosta
Hard Money and Private Money
If I'm using an LLC to purchase a property with a hard money loan, but I am borrowing money from a family member for the downpayment.. How would I receive that money from my family member? Would it go to my personal a...
Robert Carpenter
Private money loan contingencies
Suppose you borrow private money for a deal and the deal goes bust. Now with a bank mortgage there in normally a 'deficiency clause' allowing the bank to try to seize other assets you may have if the foreclosure proce...
Eric Jones
Personal Funds into Rental Account
My current goal is to scale.I would like to send money from our personal account into our rental account on a monthly basis to let the cashflow and personal funds accumulate. This money would then be used to purchase...