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How to Use LLC

David Michael

Morning PMC.
Is there a resource that explains how to put LLC into practice as a lender?  Specifically if I am using HELOC and WL money that’s in my name not LLC how do I account for that?  I did a search on the Learn section here but nothing hit.  Or its this a question for my accountant and/or lawyer?


1 Comment

  1. Chris Naugle

    I have seen videos on this and I may have even done one.  PMC learn sectin has stuff on this.  The best way is to lend money from your policy & HELOC to your entity at a __% (I do 6%) then have the entity lend it.  Then have all interest payment come back to the LLC.  Then the LLC sends your IBC or HELOC a monthly payment as per the terms you set in the note from you to your company.  **Consult with your lawyer and tax professional for advice but this is how I do it.