All Forum Posts by: N.A N.A
N.A N.A has started 2 posts and replied 12 times.
Hi,
I plan on starting my own business in about 5-7 years (HVAC/Electrical Service and Installation). However, I was wondering if it would be a good idea to create the company name and establish the LLC sooner, so I can get a head start on establishing business credit. Or should I wait?
I'm 23 years. My credit score is 750. I have 2 major credit cards, and no debt. My credit history spans nearly 3 years. I've never taken out a loan or financed a large purchase.
If I start out now, will my business credit score be zero? Or is my credit score a factor as well? Would it be like co-signing for myself?
Any help would be greatly appreciated.
Thanks
It seems like those who value a degree the most are those who don't have one.
I dropped out of a Big 10 school after three semesters. I absolutely hated college. Some will claim that it was the best time of their life. Others have their best years after college. Personally, I would feel pretty sad if my best years were spent sitting in school.
I later entered the trades and become a pipefitter. I specialize in HVAC and refrigeration, and I am making more money than any of my friends who completed college. Or at least the ones who have actually been able to find a job.
I do have an associates degree, which I received automatically by completing my apprenticeship as well as the coursework from my 3 semesters of school. I can always transfer it to a BS in Construction Management if I felt it was necessary.
You don't necessarily have to get a 4-year degree. You can always learn a trade or some type of vocation and start out making a salary that's pretty close to what someone with a BS or BA can make.
There are too many people in college these days for me to think that it actually means anything anymore. I expect there to be a lot of white collar dead weight in the future.
If real estate investing is what you want to do, then jump right in and get started. If you have a fall back option, like a college degree, you will most likely fall back onto it at the first sign of failure anyway.