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Updated about 3 years ago,
Help to BRRR from personal loans to company (LLC) loans
I have been lucky so far to have a slow but steady plan to grow my real estate, but I am now having an issue.
I think I'm headed down a good path but could use a good resource for the next step.
I have 7 properties, 5 in my name and 2 I bought in my LLC's name.
I used a Heloc on my house to buy two rental properties so I was able to buy them in the company name. I have credit services with Home Depot and Menards in the companies name and have a D&B number and have over a year with the LLC.
I now would like to refinance the 2 houses in the company name to build company credit. I would like 75K out of 130K house and 100K out of 150K value house to pay off the heloc and put the loans on the right properties.
I am looking for advice on the best place to go for the loans. Is a local chain bank a good place, local credit union, local savings and loan, a broker? What path to finance in the company names should I try to follow?
How did you get loans in your company names to build future credit?
Thanks for any help.
I think I'm headed down a good path but could use a good resource for the next step.
I have 7 properties, 5 in my name and 2 I bought in my LLC's name.
I used a Heloc on my house to buy two rental properties so I was able to buy them in the company name. I have credit services with Home Depot and Menards in the companies name and have a D&B number and have over a year with the LLC.
I now would like to refinance the 2 houses in the company name to build company credit. I would like 75K out of 130K house and 100K out of 150K value house to pay off the heloc and put the loans on the right properties.
I am looking for advice on the best place to go for the loans. Is a local chain bank a good place, local credit union, local savings and loan, a broker? What path to finance in the company names should I try to follow?
How did you get loans in your company names to build future credit?
Thanks for any help.