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Updated almost 2 years ago,
I need some help with some questions about a forming a Delaware LLC for property
I understand that forming an LLC can be a great way to build good business credit for purchasing investment properties while protecting yourself personally from any lawsuit that could come up, on top of other tax benefits.
1) Once you form a Delaware LLC, what are some of the fastest and best ways to build business credit with your new tax EIN?
2) Approximately how long does it take to obtain a great credit score for being able to obtain your first LLC business loan to buy properties?
3) When forming a Delaware LLC, is it best to choose taxation as a sole proprietor, S-corp or C-Corp if hte LLCs primary purpose is to purchase investment properties?
4) What does a lender typically require in terms of issuing a mortgage loan to an LLC for its first property purchase?
Thank you in advance for your help with these questions!
- Chad