Finance suggestions and referrals needed

4 Replies

Hi All, I am looking for advice and a link to financing sources which will work for my situation. Any help is greatly appreciated!! I want to finance for purchase and cash out refinance some other properties which I own with 100% equity. My credit score is 740. My work contract is limited and will end Dec 2018. Meanwhile, I am interviewing for the next role. I am looking for financing with minimum loan amounts of $40k. I could settle for a bit higher, but estimate the market val of the properties and 70% LTV requirement would give me loans around 40k +\- Property location is Indy. Loans made to LLC which owns the properties, but I will personally guarantee. Any suggestions on who to contact for this?

Hi Kris - $40k is too small for most lenders, I would suggest a local credit union or savings bank.  Good Luck!

@Kris Johnson   We may be interested in these as we have a 100% program we just rolled out.  Send me an email to continue the conversation.  We don't have a min loan amount.

Kris, not sure what the timeline is but I would personally want the LLC's business and corporate credit profile with DnB and Experian to be as high as possible. Message me if you would like any free advice on that or shoot over the and click on Business Credit. You'll need about 4-6 vendors reporting net terms on the LLC, then you can go to places like OD, Staples for charge cards, then maybe Home Depot and banks for business credit cards, and then finally the holy grail, a business credit line. Also, I would personally shoot for 800 on the personal side, and get DTI maxed by moving all personal debt to the LLC. Unfortunately, building credit takes a lot of time but I hope this helps.

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