Hello all! My name is Matthew and I'm new to real estate investing. My partner and I have formed an LLC and are currently financing ourselves. It's slow going to say the least but we are making regular deposits into the business account and opened a small secured line of credit to start building the businesses credit. Currently we are educating ourselves and just trying to get enough scratch together to move forward. We're not 100% sure the best direction to go but we're leaning towards purchasing a SFR for rental income to get our feet wet. Im basically just trying to figure what's the next best step. Im open to any and all advice. Thanks in advance!
Can you get a business credit card as well? In order to determine the best path, you need to define your business, who you are, what you do, etc. What are your goals?
Hi Linda, the form of credit we have is a secured credit card seeing how we just incorporated this year. We signed up for a couple of small net 30 accounts hoping to build it up for our future borrowing needs. We want to be real estate investors mainly dealing with rentals, we started the LLC thinking it would make the most sense considering we're operating out of 2 different states (we paid the fees to operate in both). The goal is enough residual income to leave our current careers and invest full time
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