All Forum Posts by: T Giddens

@Nathan H

I currently own 2 properties one under my LLC. I'm pretty conservative with spending so 1 business credit card, 1 card note in my name. I'm trying to find any benefit to buying a car under my LLC. I'm hoping to buy 2 rentals this year (BRRR) and I thought if I rid my personal car loan from my credit and attach it to my LLC that would help in the long run. But it sounds like my business credit matters too....

Believe it or not I don't care about the car I was thinking more about how removing one account from my credit file would open the door to a lower DTI for my next property. Bottom line, a car isn't an appreciable asset so I agree.

Thank you George, I totally agree. I much rather spend the money on another property which seems really hard to come by lately. 

I would check with your local credit unions. I refinance my first rental with a credit union in under 3 months. 

I'm a fairly new investor, completed my first BRRR a year ago. My real estate business is under a LLC. I recently accepted a $10,000 business credit card with BOA and they are now offering a business loan for a vehicle (2.49% interest vehicle under $50k) I'm not in the market for purchasing a new car. I have under 2 years left on my car note which is under my personal credit file.
I am however considering the offer because the loan would not be connected to my personal credit file. I’m shopping for another BRRR property so to have one less account on my credit would help.
My concerns: are business vehicles more expensive to insure? Are there Tax liabilities or incentives? Is it too soon or even worth it?

I'm a fairly new investor, completed my first BRRR a year ago. My real estate business is under a LLC. I recently accepted a $10,000 business credit card with BOA and they are now offering a business loan for a vehicle (2.49% interest vehicle under $50k) I'm not in the market for purchasing a new car. I have under 2 years left on my car note which is under my personal credit file.
I am however considering the offer because the loan would not be connected to my personal credit file. I’m shopping for another BRRR property so to have one less account on my credit would help.
My concerns: are business vehicles more expensive to insure? Are there Tax liabilities or incentives? Is it too soon or even worth it?