Income Requirements Securing Loans w/ my Own LLC
Hi all,
I'm in a situation where every property of picked up (only 3 at this point) was either with my wife as a co-signer or my mom on one. For the last 8 years I've been self-employed and my primary business, which is video production, I have both W2 wages and pass-through income. I have a second LLC that also brings in money, all straight pass-through money. Then I also do freelance work on the side, but that's not incorporated in anyway.
Here's my question... I'm thinking of leaving the second LLC (whom I am a 1/3 owner) and just continue freelancing to pick up that extra slack. Would it be wise for me to form a single-member LLC as soon as possible so that after two years that income can count towards the requirements when judging me for a loan? I'm not sure how that'll all work because I've technically been freelancing making good money for the last 8 years as well, I just get paid in my personal name is all.
Thanks, any advice would be wonderful.
Christian