All Forum Posts by: Melanie Pendrey

Thank you for the feedback. 

I forgot to mention I had read that we could do a promissory note on the LLC for tax purposes so we can write off the HELOC interest. Would solve the tax problem?

I'm interested in buying a 50k-100k property with my HELOC. But I'm not quite sure how things work best with taxes this way.

I plan on buying the property(s) in an LLC. Then have that in a holding company.

The idea is to put all of the rent back in to pay down the HELOC. Then withdraw through the HELOC whenever cash is needed (such as taxes).

From a tax standpoint will this work well writing off interest and anything else?

Any tax advice or suggestions would be appreciated.

Thank you

I’m interested, can I get any additional information and address. 

Thank you