Logan McConnell
Credit reports - collection accounts
Hi, I just got my first credit and background check application. I am not familiar with credit reports. I understand the credit score part, but does anyone have any info on collection accounts? Is it a red flag for...
Andrew Taylor
Need Guidance: How to Post Draw Payments
Quick question. I'm trying to clean up the transaction records from my first flip. I understand (mostly) double-entry accounting concepts, and I have most of my transactions recorded (just using Google Sheets for now)...
Kenny Lincoln
How To Understand Reserves Needed for Financing
Looking for feedback about the following scenario, thanks BP. Plan to sell an investment property and receive around $215k. I would like to use a 1031 exchange to leverage all of this money. I’m trying to get an under...
Brandon Powell
Setting up or Paying with Credit Accounts in Solo401k or Self Directed IRA
I need advise from investors who have had their SD Retirement accounts set up for a while. I have one major hurdle that I can't seem to get past.In our Fix and Flip business (in a non retirement owned LLC) we utilize...
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Conventional Loan with Co-signer
Hello -
I was wondering what the chances are of a bank or other lending institution letting me borrow with a co-signer. I am 24 with a 750 credit rating, but I really don't have any assets to speak of other than a c...
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UK citizen investing in US. Needs help building credit
Hi there.
I am an non-us citizen investing in real estate (mainly foreclosures) in Michigan.
As I have no credit score/history I am currently reliant on hard money lenders.
Does anyone know how I can begin to build...
Jamar Arbelo
Credit score
Does anyone know of any tips to boost credit scores?
David C.
What bank account should I use.
When first starting out with less than 5 properties, should I open a business bank account? Or should I just open a personal checking/saving/line of credit account and treat it like a business bank account? Also are t...
Steven Weiss
Business Credit for Trust Account
Hi All!So I've been reading biggerpockets posts mainly about business credit with LLCs, but haven't found discussions with trusts. Is it possible to obtain business credit using a trust with an EIN? The rental propert...
Chris Roche
Separate Bank account? Credit card?
I currently only own one 2 family. My wife and I are house hacking, we live in one unit and rent out the other.Should I set up a separate business bank account and credit card?Currently, I am just running it through ...