All Forum Posts by: Patrick Noel

As a LLC you are allowed to either make a draw and/or a distribution. A draw is basically payment for your services rendered within the company since according to LLC Rules you cannot be an employee if you are a member. A draw is basically synonymous for "salary". A draw is also tax-deductible for the LLC. Since a LLC is a Flow-through entity, you can wait year-end and have your portion flow through to your Personal tax returns and cut yourself a check then. For the best results it is best to consult a Tax Accountant or your CPA, for a more qualified recommendation. Best of Luck!

Yeah, I am in the same situation, the Down Payment in my area has increased to 25%, and Multifamily Homes to be used as an investment can go as high as 30%. It seems the best opportunity is to capitalize on incentives as a First-time Home Buyer.