Can my LLC pay for a loan in my personal name?

3 Replies

I purchased my 1st BRRRR over the Summer through a HML. The purchase was done using an LLC I set up. I have rehabbed and rented it out with the rent going to my LLC. I am refinancing the property into my personal name (the rates were so much lower for a conventional loan in my name). Am I allowed to pay the mortgage through my LLC which is collecting the rent?

@Andrew Menkes

The whole purpose of the LLC is to protect your personal assets. If you're paying your personal bills with the LLC's funds, you've pierced the corporate veil and you may as well get rid of the LLC. If you want to do that, just get an umbrella liability policy.

Not an attorney and not your attorney.  Just so you know.:)

Stephanie