New member from Syracuse, NY/Interested in Business Credit

[Ryan Hansen]

Hello, my name is Ryan Hansen, and I am new to real estate investing. My goal is to landlord multi-unit/multi-family homes in the Syracuse and Binghamton, NY area. I am also interested in advice on how to structure my business and how to obtain business credit as a means to purchase properties. I have heard that an LLC is best to own a property, however I have also heard that an S-Corp will allow me to qualify for larger sums of credit. So, I am thinking of creating a corp just for the purpose of obtaining business credit, and having that corp own the LLCs (each individual property). Any advice will be greatly appreciated.

Thank you in advance!

Ryan Hansen

[Will Chamberlin]

Hi @Ryan Hansen and welcome to BP! I invest in da cuse as well. Before you get too deep into business entities, you might want to get some properties acquired. You are going to have to personally guarantee the loans anyway and I have found it makes sense to get the property and be making money before you spend a ton on legal fees and taxes related to being a business. Just my angle, though, so make sure you do a ton of reading and understand not only what to do but why. Also listen to all the BP podcasts as your questions are covered there. Feel free to ask lots of questions, everyone here is happy to help.

- will