LLC now or later?

[Aquila Phillips]

I hear conflicting information on rather you should wait until you get a few deals under your belt before making your business an LLC and getting it as soon as you decide to get in real estate investing.

What did you do and/or what are you deciding to do? 

Thanks! 

[David Dachtera]

@Aquila Phillips,

It depends on your goals.

If you need a clean credit profile but your personal credit is not healthy, you can build credit in your LLC separate from your SSN as a "second chance".

Lenders like to see at least one - sometimes two - years in business. Start that clock!

I'm in the process of becoming a business credit educator. I'll post about it - probably in the market place forum - when I'm ready to start presenting. I already have substantial business and consumer credit education from the REI education to which I'm connected. It's just a matter of learning the new program's format and syntax.