Hi All,
Long time forum lurker, first time poster!
From what I have read so far this cannot be done, but any additional info would be useful.
If I pay a cash deposit for an IP, can I then use a LOC to pay myself back once it is set up?
Eg. $50k cash deposit paid
LOC $110k (inc $50k to be returned to me)
IP Loan $400k
Once setup draw down $50k from the LOC to refund the cash?
Ideally the LOC would've been set up in time to pay the deposit but unfortunately this has not been the case.
Repaying a Cash Deposit from a LOC
Long time forum lurker, first time poster!
From what I have read so far this cannot be done, but any additional info would be useful.
If I pay a cash deposit for an IP, can I then use a LOC to pay myself back once it is set up?
Eg. $50k cash deposit paid
LOC $110k (inc $50k to be returned to me)
IP Loan $400k
Once setup draw down $50k from the LOC to refund the cash?
Ideally the LOC would've been set up in time to pay the deposit but unfortunately this has not been the case.
0 commentaires:
Enregistrer un commentaire