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re: 401k loan to fund a potentially profitable investment
Posted on 6/11/13 at 11:03 am to eng08
Posted on 6/11/13 at 11:03 am to eng08
quote:
The example I was going to use is I know some guys (my grandfathers friends) who own tugs and barges on the river and have done very well company A. In order to pass on $ from the company they created another company with only the grand kids as owners company B. Company B got a big loan from a bank with a written contract to charter so many barges at a certain rate from Company A. Company B then purchased the barges and now exclusively lease to company A.
Essentially yes. Company A is the operating company. The investment group will be formed into an LLC with the mentioned equipment.
I really don't know why the company started doing it. We are still only medium sized, private, and as cliche as it is, we are like family. I guess you could call it profit sharing; however, I guess in all reality you are "technically" an owner.
This post was edited on 6/11/13 at 11:09 am
1
Posted on 6/11/13 at 11:05 am to TheWiz
Yeah that's a no brainer to me. I'd do it.
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