Newbie REI bank financing question..

[Dennis J Marsack]

Hey guys and girls, I'm new to the REI world and super excited to land that first deal. My Question is.. Should I start our LLC before or after our first purchase? And should I purchase the house under the business name? I ask because the LLC will be a partnership between my fiance and I. My credit is pretty good so I don't think I'd have a problem pulling a second mortgage, (1st mortgage is the house we live in) however her credit is not the greatest. She's working on it and it's getting better but still mid 600's. So would the fact that both our names would be in the LLC affect our approval odds? Or should we pick up that first house in my name alone and transfer the title to the business later? Also the down payment would most likely be coming out of her 401K sooo... just trying to weigh the pro's and cons here..

Any advice you can give will be greatly appreciated! 

Thanks and Happy Investing!

Dennis