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Updated over 4 years ago on . Most recent reply

Financing a lot development and purchase of lots - RV
I am plagued with how to finance the purchase of lots and development of RV pads, landscaping, etc. I was told the only way to finance this is through a local bank with a personal loan. It occurred to me that maybe I should set up a bank account in my business name to build credit. Are there any creative financing strategies for this that I could use? Drawbacks of using my business account to build the credit? I just want to make sure I think of every aspect. I am sitting down with my local bank early next week to discuss the options. Because the deal in the works, I am purposely being vague on the specific details. Thanks in advance for any advice!
Most Popular Reply

@Jay Hinrichs: We actually had a construction company with experience in the mix at that time, roughly 3 and 1/2 years ago. It was only for one lot anyway and not a large park. It was just to see if we could do something simple that cost less and was right in our back yard. I only needed $25k at the time. I"m very glad I didn't do it because that family has been torn apart, and the business dealings would have been impacted. I always pay attention to what you write in your posts etc. I appreciate your no-nonsense approach and not sugar-coating the reality!