You could form an LLC real easy with you as the manager. Then you loan the LLC the money and the LLC pays you interest. Of course there is no tax advantage because you pay tax on the interest earned. Plus now you have to do a business tax return and a K1 for yourself. All your LLC expenses can be applied to the individual lots and as you sell them off, you get to deduct that percent from you income. The LLC might give you some protection but it can be a lot of paper work for what your trying to do. This is what I did when I bought some land and divided it into lots. I had 2 other partners to work with so it was the most practical way for us to do it.
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Today's Featured Article - Talk of the Town: Best Tractor? - by Staff. This recent discussion on the Tractor Talk discussion board here at the on-line magazine drew quite a bit of response. We see the question of "Which tractor is best for me?" asked quite often. We thought you might find the responses interesting. As always, the names of the people participating in the discussion have been left out - we did not request their permission to reprint their names in this article. However you can find this discussion in it's entirety in the Tractor Talk archives.
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