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I/O loan to pay myself back after loaning my LLC money to purchase property
I previously loaned my LLC $150K to purchase a rental property (SFH) and I'd now like to set up an interest only loan, let's say for 5 yrs, until the LLC can refinance the property through a bank and ultimately pay myself back the $150K. What is the best way to accomplish this and/or is there a better strategy?
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Patrick Roberts
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Patrick Roberts
#1 Private Lending & Conventional Mortgage Advice Contributor
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Is there a reason that you cant just take a withdrawal of capital when the time comes, rather than creating a potential mess with a loan?
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