@Joshua Bailey - If you are new to REI you should be primarily concerned with finding good deals and growing your business first.

While the mix of business and friendship requires clear expectations and contracts, it offers a unique chance for collaboration with someone trustworthy.

One option is to wait three months, and get some business credit cards under a new business I started so that it does not hit my personal.

I've seen this happen... not between a borrower and lender, but in other business situations where an attorney brought a suit against both the LLC and the individual members of the LLC.Of course, if the lawsuit has no merit and is a pure act of desparation, it seems to be a waste of funds for the borrower when discussing options with the lender could work towards a viable solution.

Hi everyone,I'm in the process of scaling my wholesaling business and am exploring the idea of hiring someone to not just make cold calls, but to also play a crucial role in finding properties and securing buyers.

She declares bankruptcy/pays off those cards with the cashed from the sale and moves forward investing as a business entity.additionally, her personal residence is income producing as well since she rents out two rooms on Airbnb and runs her cleaning business out of an office there. my questions are1.

What would you say is the most important thing to do for someone who is new to the business?

This is how most hard money works now Rates: 9% to 13% (Most Deals are 11-12%)Terms: up to 36 Months (Most Deals are 6-12 months)Fees: 2-4 points(%) of loan amount paid at closing (Most Deals are 3 points(%))Minimum Loan Amount: $50,000 (For loans less than $250,000 $2,500 minimum fee)Max Loan: 65%-70% of After Repair Value(ARV) 100% Rehab Financing Available (Require 20% of purchase price down payment or cross-collateral)Closing Timeframe: 48 Hours - 3 Weeks (Most Deals are 2 Weeks)NO PRIMARY RESIDENCES, NON-OWNER OCCUPIED ONLY, BUSINESS AND COMMERCIAL USE ONLY.

It's tight and if you didnt execute your business plan, your staring a cash-in refi or sale square in the face. 

Business Lines of Credit are a different thing than a HELOC.