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20 November 2024 | 3 replies
@Sharad BagriI would open a bank account at a local bank or credit union that will lend on the properties you are buying.
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2 December 2024 | 5 replies
There are banks that do non-recourse loans to IRA's, a simple google search should render you some results. 2) If you are still working for the government, you likely can't rollover the TSP to an IRA. 3) When borrowing money with the IRA, you do have a special tax, called UBIT, not a deal breaker, but something to be aware of.
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28 November 2024 | 5 replies
The bank I have used, Lyons National Bank, lends to me through my LLC.
2 December 2024 | 1 reply
Next year i'll hit top pay and should start bringing in 1.2-1.3k a week. and the year after that i plan to move to linehaul and make about 2k a week.I do have a lot of debt, or at least it feels like it to me. the breakdown being;23k in college debt i got getting a bachelors that i never used across 5 loans ranging from 3 to 5% interest rate5k in bank loan debt i got getting my trucker cdl a at 12% interest rate.2.5k in credit card debt from not having an emergency fund and then having emergencies.
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29 November 2024 | 6 replies
So the loan for the rental shows as a debt but the income is not reported to the bank where we are trying to get the new loan.
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1 December 2024 | 5 replies
I agree with @Jamie Banks that, while it takes time, its best to develop these relationships organically.
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5 December 2024 | 25 replies
When I asked the point of contact for additional information (contract, copy of earnest money check, bank account verification) , they went silent.
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28 November 2024 | 1 reply
If you are looking for loans on real estate or a business lenders don’t necessarily care about the credit history of the LLC - they care about the performance of the asset and your creditworthiness since you will most likely have to sign personally.I have established multiple LLCs just days before closing on large loans for different assets, those particular entities barely existed and the banks did not care.If you are talking about pulling a business line of credit (like a HELOC, but against your business equity) then the banks like to see some history of revenue.