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Updated over 4 years ago,

User Stats

38
Posts
5
Votes
Shalom Benton
  • Rental Property Investor
  • Tallahassee, FL
5
Votes |
38
Posts

Financing with an LLC

Shalom Benton
  • Rental Property Investor
  • Tallahassee, FL
Posted

I've done some research and it feels like there is some obscurity surrounding starting the process to finance with an LLC.

I have an LLC.

I have free and clear assets in the LLC. And the LLC makes $2100 gross income off of rental units. The LLC also has 50k cash.

What I haven't done is set up the LLC's credit, no credit cards in its name right now..

I want to finance a multi unit. Or do new construction on a lot that I have...What are the next steps to make this LLC less risky to lenders, and get approved?

Do I need to get a credit card in the LLC's name to start some credit history? Will I have to serve as a personal guarantor? Does my personal credit matter? Thanks!!

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