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Updated about 5 years ago,
Banking with business credit!
Hello all!
I get that it takes time to build a did business credit and relationship with banks. With that being said. How do you buy a property with business credit.
So obviously the down payment is probably the easiest part. You can take out a 20k loan under your business name for down payment... But I can't really understand how a bank will approve a business for a 250k house investment....
So if I want To buy 250k house... I take out my 20% business loan for down payment, but how do I get approved for a business mortgage Or would that credit be under my personal name? So if I'm into house flipping or the BRRRR strategy... Eventually I'll have so many mortgages on my personal credit reports... Banks will no longer want to give me loans...
Can you take out a 250kmortgage loan with your business (ex. An LLC)
Does this make sense?