Financing Headaches
Hi, I am new to investing. I have a couple questions. I am apologizing in advance if they are dumb. Have mercy folks. I have set up an S-Corp based in Nevada. I am awaiting all the paperwork from the state of Nevada. I need this paperwork to begin a business bank account. And then try and apply for a line of credit . What I am wondering is can I apply at a couple different banks for credit? How can I maximize the amount of credit? Are there investor friendly banks anywhere? Any advice would be very much appreciated. BTW I have a very good credit score but no cash, and live in San Diego. So to even get started I am going to need some credit. Thanks for reading this, Dave
Comments(0)
First off I would not form an s-corp to buy investment properties. If I was to form anythign I would form an LLC. But most likely I would buy them under your own name since you are new to investing.
If you are planning on getting credit in the name of a new corp or LLC do not count on it. I have also good credit and a 2 yaer old LLC and could not get a loan on property. had ato get it in my name and then switch the title to the LLC Good Luck
thanks for the heads up
dave