Quit Claim Deed Strategy

[Xavier Strong]

BPers,

Here's the run down. A partner and I created a LLC. The partnership was formed for credit purposes, his credit is great and mine is so, so. The plan is for him to purchase a property and Quit Claim it over to the LLC. I understand only the rights and ownership transfer, and the loan stays in his name. We're planning to "buy and hold" and tenents will be making payments to the LLC.

QUESTION: Would these payments benefit the LLC as establishing business credit for future loan in the LLC name?

QUESTION: How often can this process be repeated?

If anyone has used this strategy in this manner please offer insight.

Thanks in advance,

Xavier Strong