Business credit real estate

[Taylor Smith]

So I’m looking to obtain business credit to be able to have the capitol I need to invest in real Estate. Now I get the basics of how business credit works.

Questions is though. How do you make yourself creditable as a business if you do not have a property yet?

Also from my understanding you will need to get vendor accounts to build your business credit. Do if I got to the vendors but I don’t have a property yet. Am I supposed to buy things I don’t not need just to try and build business credit? Thank you in advance for the advice.

[RJ Horwitz]

Taylor-

I own 112 units in Ohio. LFRrentals.com. 

1st get yourself registered LLC & obtain an EIN #.

2-Open checking at a commercial bank like Chase Manhattan. Obtain Denit cards & set limits. 

3-Contact Dun & Bradstreet and provide a profile for D&B  

4-Run all business related fees and gas purchases for business through that Chase account  Establish a payment history record  

5-Open a Lowe’s & Home Depot account

6-Look for a commercial leasing equipment co & establish a LOC See Marlin Leasing nationwide in NJ

Repeat steps 3-6 for 5-9 months until credit bureaus cycle through & establish initial evaluation  

Partner in or buy a property and use your structure  MUST keep all receipts & records for Bookkeeping & IRS filings

That’s a good start  Keep at it. RJ Horwitz