LLC is like other investment property. However, it is little tri

to put down a number how much your asset is worth by owning an LLC.

Say you have 1 LLC that owns two houses. 1st purchased at 100k but assessed at 120k. You paid 40k cash and had a mortgage of 60k, out of which you have paid off 5k. You have owned for 3 years and the depreciation since your purchase is 10k.  2nd purchased at  100k by self financing (HELOC). Assessed at 120k. You have paid back 5k HELOC and depreciation since purchase is 5k.

Now,   tell me how much this would be for your tuition benefit purposes...

To make your head a little bigger, let's toss in a few odd balls...

Same example, you self financed with 50k from HELOC, but now you have a partner to whom you issued a secured bond of 50k of 10 years, payable 10k a year for 4 years and a lump sum payment of 30k at the end of the 5 year term. You have the option to pay off the bond with any amount between the 50k and the accumulated payment, plus 20% any time.