Obtaining business credit

[Bill E.]

I'm a new investor with one property currently ( duplex) and I want to grow exponentially. I am looking at different funding options for fix and flips and also multifamily properties. I've been researching business credit from 100 pf on YouTube. My question is should I form a business just to access business credit for these purchases? Is this a viable option and could someone lay out a strategy for using business credit.

[Kenneth Garrett]

@Bill E.

Business credit is a great idea. It takes time to establish. It is based on trade lines, need a business. Can be LLC, S-Corp, C-Corp. You will have to provide Ein Number. Many of the vendors want your business to be 2 to 3 years old. Some over 5. There are a few as along as your in business they will extend you credit. Recommend going to Dun and Bradstreet and getting a DUNS number. If you call D&B they are excellent sales people and will try to sell you a program. Its very expensive. You can create it yourself on there website. Just a FYI there are good sales people. Scoring is up to 100 with a Paydex score. You want to be above 80. There are companies that will help you establish credit like D&B, can be costly. I use monitoring through Experian Business Credit $100 a year. D&B wanted $139 a month.

Good Luck.