Hey guys, I am wondering if I should establish business credit for my real estate venture first. I am ready to pick up my first rental property but, I am just not 100 % sure. Any help will be greatful !!!!!
It's always good if you can establish credit in your business separate from your personal credit.
Start by getting some Net-30 accounts, then move up to trade-lines at local builder's supply places and hardware stores. Once you've established credit under your entity's EIN, check with D&B and see if you have a Paydex score of at least 80. After your first year, start applying for business credit cards.
...and always keep learning about business credit!
if you want step by step instructions go to creditsuite.com