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Also remember to monitor your credit. There are 3 main credit bureaus-Experian, TransUnion, and Equifax. You are entitled to a free bureau every 12 months but that is on EACH one of the 3 companies. If you space them every 4 mo you can keep a close eye to make sure your new credit is being reported and that no one is stealing your idenity. You will notice too that your accounts may not show on all the bureaus, just depends on which they report to. Like the previous post says, get a department card (Home Depot,etc) and then you will get blitzed with cc offers. You also need to use them, if you don't it may not be reported. Good Luck and Happy Investing!

I can see that I guess, just always looking for the better route. Something for nothing and the mortgage interest free..... :violin:

Anybody? :help:

What about if you have built up some credit in the LLCs name? Will they still charge a higher rate being in the business name versus personal? :shock:

This is exactly what I have been looking for in the forum. I formed an LLC and just bought my first investment property. I see from farther up this string I can quit claim it to the LLC name, but will I have a harder time taking out a home equity line to buy other properties? I can't seem to find out this kind of info from other places so I am glad I found this site. :D

The market in NW Indiana is still going pretty strong for the lower priced markets. It seems as the slowing economy is hitting the higher houses first. We continue to see lots of Chicago people moving farther out of the suburbs and commuting so that's great news for us small fish :lol:
I just bought another fixer upper and curious if anyone is familiar with land contracts? Always trying to learn.

Hi Dana
I'm close by in NW Indiana and also new to REI. Seems like all my neighbors are driving to your area for work. :D
Welcome and GL!

Hello to all. I have really enjoyed reading through the site and look forward to learning alot from my fellow RE investors. Keep up the good work!

I am purchasing my first rental house and wondered if anyone can help fill me in to any advantages to titling in my personal name versus buying in my LLC's name. The LLC is for a construction company I am starting but up until now has been a few new houses only. I know if I "pay" myself from the LLC, that money is taxed pretty heavy. If I buy in the company's name is there any advantages when I sell or do 1031 exchanges? This post just proves how many new ideas are on this site as I never knew about a 1031 but am learning..... Any help appreciated. :lol:

I just found this site on a google search and I gotta say-great info! I was looking from some insite from some more experienced investors out there. I am working on purchasing a property on a land contract. I found a two story that needs remodeling (mostly cosmetic) that I can purchase cheap. I have built new houses but never done a remodel. So far I have the purchase worked out as paying $10k now and the $25k balance paid in 6 mo. I figure that should give me plenty of time to redo the house and make sure it is in great condition to pull a mortgage on it. Hopefully I can find renters by then too. I look to everyone's collective knowledge to ask if there are any pitfalls I need to make sure to avoid with a land contract. I just ordered a title search to make sure the title is clear of liens as the seller says it is. I am purchasing a fire/dwelling insurance policy to cover myself incase of loss. I pulled the clause out of the land contract that deals with payments/interest/ or the seller's ability to reneg. Any thoughts or advise would be greatly appreciated! I think I'll be reading through all these posts for a while....never know too much! :mrgreen: