All Forum Posts by: Jason Kenyon

 Thank you!, I thought that was the best entity to open for starting r.e business, maybe i was told or thought wrong ...and then possibly incorporate it with an S-corp?. WE is I'm working with a partner trying to get this business started. She has 4 years working with a wholesaler and has done many responsibilities along the way, all the way up to managing and teaching new reps.

 Thank you!, I thought that was the best entity to open and then possibly incorporate it with an 

S-corp?. WE is I'm working with a partner trying to get this business started. She has 4 years  working with a wholesaler and has done many responsibilities along the way, all the way up to managing and teaching new reps. 

Hello, hope you are having an amazing Friday!, we started an LLC got the EIN # and then the business bank account last September, had trouble getting institutional lending roadblock, so now the Important question is, what way would you recommend if you were starting out with limited capital 4-6k plus in this hectic current market with rising interest rates only getting worse is a major concern, Would you start with wholesaling, get commission connecting the seller with investors or buyers and then progress something else or another way, possibly faster with a loan? Either fix and flip loan or other? Concern is being careful and not being left holding a house if we buy anything in the next few months and investors and buyers pull back on buying.

Thank you a million! God bless!

Hello, we started an LLC got the EIN # and then the business bank account, had trouble getting institutional lending, the Important question is, what way would you recommend if you were starting out with limited capital plus in this hectic current market with rising interest rates only getting worse? Would you start with? Wholesaling and then something else or another way, possibly faster with a loan? Either fix and flip loan or other?

Thank you a million!

No I have not heard of that before or looked into that, but I would like to know more about that if that is a viable option. i sent you a request to connect. 

Hello everyone, we have started an LLC and got the EIN number last September for our hopeful flipping business with motivated sellers, but have been coming into roadblocks with getting additional funding. I am needing to ask for direction and suggestions on recommended reputable lending companies that would lend to a new real estate business.

I have searched and found Bay Mountain Capital, Upgrade, Fundera, 1 West, Fund&grow, Lima1 capital, Dominion Financial Services and others, but I am unsure if you recommend one of these to go with, or if you suggest and know of a better one and lends to newer businesses that could give funding in around a few days to get funded?
I have also heard of a DSCR loan, but I don't think that would work with flipping because we would not be not renting out at this time.

God bless and Thank you!

@Daniel Parrish hello, no we don't yet we are just trying to start out, and needing a little more capital, the property if it will still be available is around 20k. 

@River Sava @Brittany Minocchi @Adam Bartling 

Thank you everyone for your direction and help! We are trying to start off helping motivated sellers who need to sell for around 20 - 40k who are in need of help and cash and have the title put under our company either resell or do cosmetic improvements and then resell. I know about creative investing through Brandon from his book with Gov loans "Real estate investing with low or no money down", but really don't know anything about DSCR loans or the complexity or the time it takes, ill research it. Seems we will possibly need to do creative financing option or do a personal loan since we are just starting out and don't have any properties yet, little to no business income and my annual personal income is not too much around 26k, which is why I'm needing to improve my future!
my credit scores are excellent and FICO is 700-714, 

 I also know mixing personal with business income is a BIG no no, but if I get a 15 -20k personal loan for some extra financing, how would I go about doing that? Would it be okay if they send that into my business account or to have it put in my personal account?, then I pay the seller through my personal account? There are some small, but very important things I'm not clear about, I need a little guidance and clarity. 

What would you do in that position?

ohh okay thank you! yess its looking like it.

Hello Biggerpockets family!, we started our LLC 3 months ago and have little income from 2 JVs, but really hoping to get properties under our own title, do cosmetic improvements resell and be able to grow. We were thinking of only 15k to 20k extra capital. It seems getting a business loan from the bank where I have the bank account for the business in is not likely since it is new with little profit they say. I'm trying to figure out if anyone could help with any recommendations OR if you have been in this situation and what lender you got a small loan with. Im not sure whether I should go with a personal loan and what lender such as upgrade etc. or if a business loan? I have excellent credit, and At this point we are looking for something sooner than later, I have been asking around other wholesalers, but no one knows anything or is able to help. I thought i would try here as the last hope. I greatly appreciate any suggestions and direction.

Thank you very much and God bless!