Starting a LLC

[Damien Davis]

Hey BP Family,

After listening to the real estate rookie podcast from episode 1 to current (I had a lot of time on my hands), one thing that stuck out was that owning real estate was a business. It didn't really click with me until I kept hearing about the tax benefits. So, i started my own business and will refinance my multi-family with a DSCR loan and will close in my business name. This will help alleviate the DTI issue I was facing on the personal side. One thing that been weighing on my mind is how will I fund this business to effectively scale. I understand BLOCs, Business CC, loans, private lenders, hard money but all takes a considerable amount of capital. Any suggestions where to turn next so I can start funding the business without over leveraging myself?

[Jason Zundel]

Damien, on the topic of building business credit specifically, one aspect that many new to investing and business credit forget is to report and get your name out there - your business name!  Make sure you have an EIN for your business, are opening cards and using them properly, but also register your business with 411 and get a DUNS number through D&B (Dun and Bradstreet).  Here are a few other sites for speading your name as a good way to build the credit: 

https://www.411.com/
http://www.listyourself.net/ListYourself/
https://biz.yelp.com/
https://yext.com/
https://accounts.yellowpages.com/

Note: This information is for educational and informational purposes only and does not constitute legal, tax, financial, or investment advice. No attorney-client, fiduciary, or professional relationship is established through this communication.