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Updated about 6 years ago on . Most recent reply

Evan Smeenge's profile image
Evan Smeenge's profile image
Evan Smeenge
  • Real Estate Broker
  • from Chicago, IL
  • Member since Aug 7, 2016
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Evan Smeenge's profile image
Evan Smeenge's profile image
Evan Smeenge
  • Real Estate Broker
  • from Chicago, IL
  • Member since Aug 7, 2016
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Evan Smeenge
  • Real Estate Broker
  • Chicago, IL
23
Votes |
56
Posts
Buying & Selling Real Estate

Putting Money Into Your Pocket

Evan Smeenge
  • Real Estate Broker
  • Chicago, IL
Posted

So,

Let's say I have $4,000 per month profit in rental income, how do I legally take a cut of that...

I'm formulating a plan to get enough rental income to pay my own personal mortgage, how do I do that?

The money would be in my LLC, do I need to take a salary?

Looking forward to answers!

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Frank Jiang's profile image
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Frank Jiang
  • Investor
  • from San Diego, California
  • Member since May 30, 2014
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Frank Jiang's profile image
Frank Jiang's profile image
Frank Jiang
  • Investor
  • from San Diego, California
  • Member since May 30, 2014
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Frank Jiang
  • Investor
  • San Diego, CA
765
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592
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Frank Jiang
  • Investor
  • San Diego, CA
Replied

LLCs' are pass-through.  You just take an owner draw.

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