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?
Dave
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.