My father has fully paid off his commercial building mortgage recently, so his Corporation has now 100% equity on this property. Is it possible to apply for an Equity Loan off this commercial building and use the loan to fund the multiple downpayments that my brother and I may need to buy multiple Single House real estate properties? We are planning on getting conventional loans for these properties.
I am not sure how this will impact my father's corporation tax filing or any other financial status.
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