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Updated over 5 years ago on . Most recent reply

Account Closed
  • Conyers, GA
3
Votes |
19
Posts

Start business credit

Account Closed
  • Conyers, GA
Posted

How do you start business credit in order to help finance real estate loans? And she business credit better than personal credit?

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Charles Carillo
  • Rental Property Investor
  • North Palm Beach, FL
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Charles Carillo
  • Rental Property Investor
  • North Palm Beach, FL
Replied

@Account Closed

Banks loans are going to require a personal guarantor. Even with non-recourse agency loans (fannie/freddie), they are going to check your personal credit and your business credit is not part of it because you are normally forming a new LLC for each rental purchase. I am not sure how you would start building credit outside of opening credit lines in the business' name but you are most likely going to need to personally sign for them so it really comes back to the fact that your personal credit is more important than business credit.

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