This is referring specifically to the mortgage and the debt-to-income ratio analysis that credit lenders undertake.

Finally, the business owner is personally liable for the debts of the company, and unfortunately, personal assets can be taken to pay company obligations.Thats not to say dont do a Sole P I just think incorporating is better.And when you incorporate it just means you creating a business entity.

As soon as everything is complete you can do your cash out re-fi, pay off the hard money loan (as quickly as possible because hard money is expensive) and still have money left over for debt servicing the property.

Get your credit score to about 740 or better, have no debt, have a good paying job for at least 10 years in one industry, and have a fairly large sum of money in the bank and you can walk into almost any home in your budget with the best loan rate and tax bene's and live large!

I was in debt from my husband's hospital bills-he had heart failure and my credit was on the verge of being ruined because of it.

Make some extra money and pay your debts, thereby improving your credit.

i am looking to set up an LLC owned by my Roth IRA. i would like to find someone who can give me a legal opinion on having debt within the LLC, without having to pay taxes on profit, and compensation within the LLC.thanksjim

If you can find a worn out, tired landlord you may be able to negotiate his monthly rent cost by giving him a "worry free" lease meaning guaranteed payments on the 31st, no repairs in the middle of the night, no one calling him fussing about stuff, basically eliminate most of the hassles of the typical landlord position.

though i am still in process of setting up LLC, i know from reading other sites and articles that there is no limits on number of properties. if it is done right the LLC is it's own entity, with IRA owning membership shares.the one restriction that is tricky, is leveraging. if not set up correctly you could have to pay taxes, because you can't have debt in the IRA is the way i understand it.we will be setting ours up in such a way as to avoid this problem. though i don't know the specifics yet, i have talked to a couple of consultants and they say IRA investing in a LLC is the way to go, if done correctly. and they say we can avoid many restrictions and that there are ways to do it.

Get to know the bank manager, ask questions there...The big banks etc will fob you off...but get local.I started at $20k in debt and no job...but bought two properties within 3 months.Hope that helps...