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I'm about to start my first LLC in Illinois. Any tips on establishing business credit conventionally and creatively will be great. Any info on trusting HML's will be greatly appreciated also. Thanks BP Family.
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Quick background for those who are new to REI: For liability purposes, it is generally preferred to hold real estate in an LLC (so if you're sued, creditors can't touch your personal assets, e.g., savings acct, primar...
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Hopefully not too off topic? I'll try to avoid asking "where does a multi-family investor buy a set of toe nail clippers?"But... I need a new bank where I can open up a pile of business cehcking accounts to operate Ci...
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Hi I'm trying to buy rental properties for 80, 90k. Wells Fargo is telling us they can not give loans with the title being in the LLC, it has to be an individual loan. They only do LLC title loans for above 400k. Is t...
We are buying with a second home mortgage. We intend to use the home personally when we can but primarily for STR. Our plan was to quit claim deed the house from the bank to an LLC after closing but we know there’s a ...
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So today I decided to take a HELOC out on a rental property that is out of state. I called BofA and the lady said no HELOCs on investment properties. No way I thought and asked to speak to someone else. After much ...
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Hi! I have a rental house that is owned by an LLC. I was told by one bank that I would have to get a commercial loan because the house is owned by an entity, and not a person. How do commercial mortgage loans compare ...
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Hi guys, due to my credit score, most banks will not entertain me. Long story short, I'm able to buy the ABC property without any mortgage with my personal savings to start but of course it'd be wise to use bank's mon...
First time investing in property and have a few questions - Buying townhouse in North Carolina with intention to rent out. My bank does not give mortgage loans through LLC, so rather than getting another bank to do co...
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HI All-
I am in the midst of closing on my first deal, which will be the first of hopefully many units to be a part of my rental portfolio. However, in the closing of my first unit, I am putting the property ...