Private Lending & Conventional Mortgage Advice
Market News & Data
General Info
Real Estate Strategies
Short-Term & Vacation Rental Discussions
presented by
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Tax, SDIRAs & Cost Segregation
presented by
1031 Exchanges
presented by
Real Estate Classifieds
Reviews & Feedback
Updated over 4 years ago,
Financing with an LLC
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!!