My business partner and I will be working together throughout our journey of both learning REI and working on future deals (wholesaling, rehabbing, BRRR, etc.) We will be going through the beginning stages together over the next few years and will continue working with each other in the future. However, at some point we know we'll be making our own deals and running our own separate REI businesses.
I understand it takes some time, 1-2 years to build up a strong Business Credit in order to be eligibile for future Business Lines of Credit.
So for the purposes of building Business Credit, is it recommended to create one LLC together first through the beginning phase (share in start up costs, fees, accountability, etc) and start our own separate LLCs later down the road once we're more experienced?
Or should we start off with our own separate LLCs now to start building up that Business Credit?
Side Question: How impactful are recent hard inquiries for personal credit cards on applications for a Business Credit Card for a brand new business.
Thanks for any tips/advice!