Buy property under LLC with personal LOC

[Shawn H.]

Like the title says, can you buy a property under an LLC using a line of credit secured by a rental property under personal name? What are the ramifications? Thanks

[Patti Robertson]

If you have a true line of credit with a checkbook in your possession, you can write a check for anything you want. The LOC is already collateralized by something else and guaranteed by you personally.