Just Formed A One Person LLC!!

[Account Closed]

What are the limits on wholesaling, acquiring properties under it?  

I know that I can get funding for double closings.  They are a dime a dozen

What about having a win win exit strategy.  

Will lenders lower the experience bar when it can be demonstrated that I have stuck with it? That, in the unlikely event of default,  they will obtain assets that will pay for the default, and more once in their control?  LOL!  

What about a business line of credit?  Where the interest is paid on only what is used? Personally, I am not concerned about interest rates at this time.  Performance gets better rates, regardless.

I saved pennies, nickles, and dimes (no quarters! laundry) and paid a lil over $400 to have a LLC formed. Not concerned about taxes etc, yet.

Just looking for input on investment strategies available.

I have and am already in direct contact with principal buyers and sellers, or their designated agents.  Unfortunately not all agents are investor friendly.  The principals are, otherwise we wouldn't know each other.

So I ask:  What are the benefits of having an entity, and how can it be used.

And yes, I have a registered agent for all you legal beagles.

Thanks!

[Chris K.]

Lol I kinda hate to say it but seems like you put the cart before the horse on this one but at least you have it set up already. Would have been better to know the benefits and uses before setting it up. 

One of the reasons I personally haven't set one up is because after all the researching I've done I don't see a use to have one at this moment. I'll eventually get one once I grow but it would be more administrative work than anything for me at this point.

What was your reasoning for getting one?