All Topics / Finance / LOC structure

Viewing 3 posts - 1 through 3 (of 3 total)
  • Profile photo of naked_seednaked_seed
    Member
    @naked_seed
    Join Date: 2010
    Post Count: 10
    April 3, 2011 - 4:14 pm

    Hi guys,

    I want to take out a LOC over an IP I have in Australia to be able to fund cash purchases of US properties via LLC's. Do i simply take the LOC out in my name or is there an advantage to taking it out in a company name, maybe for greater borrowing purposes down the line ie not having a loan attached to my name directly?

    cheers,

    Jason

    Profile photo of Richard TaylorRichard Taylor
    Participant
    @qlds007
    Join Date: 2003
    Post Count: 12,024
    April 3, 2011 - 10:01 pm

    Is going to depend in what name the Title is in.

    If it is in your personal name then the LOC will need to be in your personal name also (Can only think of one lender who does things slightly differently) 

    Taking the loan out in a Company name with you as the Director and Guarantor will not increase your borrowing ability.
    That myth was put to bed many years ago.

    Cheers

    Yours in Finance

    Richard Taylor | Australia's leading private lender

    Profile photo of naked_seednaked_seed
    Member
    @naked_seed
    Join Date: 2010
    Post Count: 10
    April 5, 2011 - 2:42 am

    thanks Richard

Viewing 3 posts - 1 through 3 (of 3 total)

You must be logged in to reply to this topic. If you don't have an account, you can register here.