Trouble With Getting Loans

[Branden Wilkinson]

I have two rental properties which has racked up roughly $400,000 in mortgage debt. I never have late payments, my credit score is 730ish and I went to apply for an auto loan but was denied. I have no other debt and have a decent amount in the bank, so the only thing I can think of is because of my mortgage debt. What should I do? I thought about creating an LLC that way it would fall under the companies debt and not my own.

[Eliott Elias]

If you want to scale, and you are using your personal name to buy, you are going to tap out very soon. Start your LLC ASAP to build up two years of history. In the meantime, use DSCR loans and owner finance.