Would it be easier for someone with terrible credit to get a loan as an LLC?

[David Fields]

Let me first say that I am a student/fan of Robert Kiyosaki. I own all of the videos/audio books/games he's made. Aparently the "No Money Down" days are over for hard money lenders. I was told the other day that my financial education is outdated, because I was looking for a no money down loan to purchase a very cheaply priced two-family rental from a friend. I'm wishing to start out in REI, but I partied a little too hard in my past and have terrible credit. I've matured alot since graduating college, but my past still haunts me financially. I work as a delivery driver and half of my money is from tips, which dosen't count towards my income. So I have bad credit, no capital, and a bad debt-to-income ratio. Would it be easier for me to just form an LLC and aquire investment properties through that entity? I eventually wanted to hold my future properties in an LLC for asset protection and liability protection anyway.

[Eric M.]

It confuses me why this question gets asked so often. is some "guru" telling people that they can get easy credit through an LLC?
If they are, they are wrong.
It is much harder to get credit for an LLC even if you have great credit.

Think about it from a lenders standpoint. If you are a bad credit risk personally, why would you suddenly be a good credit risk with an LLC which actually makes it even easier for you to walk away from debt?
An LLC needs to have an established business with revenues and profits on its own to begin to establish credit.