Updated about 9 years ago on . Most recent reply
For a cashout refi - Are all LLC expenses incleded in P&L?
Hi all! I have a question about a P&L and a trailing 12 for an apartment building.
I currently have a personal loan that I used for a down payment on an apartment building. The apartment building is in an LLC and is paying that personal loan payment every month out of that LLC's bank account.
The question is: when I go to a bank to refi the apartment building, do I need to include that monthly loan payment as a property expense? I'm assuming that the bank will want to see the business bank statements and will see that personal loan payments deducted every month, so should I be paying it out of my personal account instead?
Thoughts?