Entities like S-Corps and LLCs are just a few options I've read about on the BP blog, but no articles seem to really dive into them.

Entities like S-Corps and LLCs are just a few options I've read about on the BP blog, but no articles seem to really dive into them.

Hello,I have been lurking around BP for some time now, reading through the different forums. 

I am having issues getting pre-approved through a bank as I only have one year W2 job history and two years self employment history, even though I have 660 credit 10K saved and we'll make around 70 K this year all income combined.

I am having issues getting pre-approved through a bank as I only have one year W2 job history and two years self employment history, even though I have 660 credit 10K saved and we'll make around 70 K this year all income combined.

Thank you to anybody who has read up to this point.

Know how to read and interpret your loan agreement.

Well definitely read through this article, and the comments, to get some more information on it-https://www.biggerpockets.com/renewsblog/2013/08/1...If you decide to still go the LLC route after that, totally cool, but it's important to have all the info.

There are a few things you can do and know on the front end to help prepare. 1)Know how to read your loan documents. 2)Know the differences between Cash Trap, Cash Management, and Cash Sweep. 3)Know what a Trigger Event is, and if you have one written into your loan agreement. 4)Know how to efficiently request reserve disbursements.5)Make sure your lender is never holding more than they need to in escrow. 6)Have a system set up to monitor your lender and their obligations, in addition to your own.7)Know how to recognize and monitor risks based on how your loan agreement was written.8)Know when you need to hire an attorney, and when you don’t. 9)Know the difference between Property Management and Asset Management.Already experiencing some of these issues on a Loan?

However, this is a probable situation.BTW, there must be other Agents/Brokers that represented the Seller but have bought properties in multiple bid situations.I would really like to hear from them.From what I'm reading in the case of the Buyer, he is a Customer, not a Client.