Looking to refi about 10 paid off properties

[Anthony Owens]

Gm all.  I’m looking to get information to help me to my investing career to its next phase.  I have 10 paid off properties that I would like to put permanent financing on to get cash out to reinvest. My credit is not good and I’m wondering if there are any options for me using just my llc.  If not, I have several people (mom, sister etc ) that I can add to the company that have good credit.  I’m looking for any and all help.  Thank you all.  

[Stephanie P.]

Quote from @Anthony Owens:

Gm all.  I’m looking to get information to help me to my investing career to its next phase.  I have 10 paid off properties that I would like to put permanent financing on to get cash out to reinvest. My credit is not good and I’m wondering if there are any options for me using just my llc.  If not, I have several people (mom, sister etc ) that I can add to the company that have good credit.  I’m looking for any and all help.  Thank you all.  

 Anthony

I'll bring up the 800 pound gorilla in the room; why is your credit "not good"? Is it something you can fix over the next couple of months or is it something more severe? If you own ten free and clear properties, I'm assuming you don't have a bankruptcy or you would have lost them so it could be that you just need to manage your credit for a couple of months and pump up your score. You can get a road map to increasing your credit score from the three credit bureaus and by doing what they suggest, lower the interest rates that will be offered, not have to have a credit partner and not have to go the LLC route.

Adding additional debt to debt that's mismanaged is a recipe for disaster.  Fix the problem before you add to it and potentially lose a great opportunity to flourish with your 10 properties.

One girl's opinion

Stephanie