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Updated over 7 years ago,

User Stats

5
Posts
1
Votes
Harry Patrick Falls
  • Aberdeen Proving Ground, MD
1
Votes |
5
Posts

Avoid using Real Estate SIC Code 6531?

Harry Patrick Falls
  • Aberdeen Proving Ground, MD
Posted

Hello all, 

I am new to the Bigger Pockets community. I have done a forum and Google search for the following answer, but I haven't had any luck. I have being doing research on applying for my Dun and Bradstreet number. I have been able to find advice from multiple sources that warn about using the high risk real estate SIC Code: 6531, but not much advice is given on how to structure my real estate investing under a different SIC Code. My concern is that if I use a different SIC Code, wouldn't I still have to present my real estate business plan to the banks, in order to acquire funding to buy property? What are your experiences with structuring your corporations, and business plans for real estate funding? The more recent experiences, the better. Thanks in advance.