Money flow between Personal and LLC

General Q & A
1

  1. Mark YOU’RE the Rockstar (matt you too don’t be sad)

  2. I don’t know what to do with my hands either (love the Ricky Bobby reference)

  3. Can you walk through flow of money from buying first rental with personal $ to selling (years later) under LLC for reinvestment

A. My wife and I buy first rental under our name and bank account (not worrying about due on sale).

B. Deed house to new LLC

C. question 1: Do we fund the LLC to then pay for repairs/expenses and start recording income under LLC

D. question 2: Where do funds flow when (5+ yrs) we sell rental. It was our personal bank to start, but have been recordng expense/income under LLC.

(sorry for looooong question)