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Updated over 6 years ago on . Most recent reply
Can an aged LLC with credit help boost mortgage financing?
I don't have very good credit, but recently I sold my house and have a little over 200k in the bank. Starting to build my credit, but its not good enough for what I want. I'm looking to invest in an apartment complex or any good passive income real estate. My question is this: can an aged LLC with credit help me in acquiring financing for an apartment complex when having 200k for down payment? The reason I ask this is, credit takes time to build, and I have the money now to invest. Any clarification is appreciated.
Most Popular Reply
@Juve Madriz The aged LLC will not help you that much. You (or a loan guarantor) will still need to personally guarantee the loan. Credit score is one of the factors that your lender will look at, although it won't be as important as in residential lending.
Keep building your credit!