All Forum Posts by: Corey Davis

@Duncan Taylor my understanding is that if a credit partner is part of an LLC, the business loan is recorded as a business loan, and reflects differently than a personal line of credit. Also, this partner would be compensated at 10% of total company profit, making DTI ratio pretty decent. Am I not understanding things correctly? I've never heard of a credit partner until today.

An associate says he added a partner into his LLC because she had a nearly perfect credit score, and became guaranteer on business loans and commercial real estate, effectively making it super easy for him to achieve things he normally couldn't before, due to his own credit being average.

I'm the guaranteer on my business accounts, and intend to finance some commercial RE this spring. Would it be an advantage to find a partner with a perfect credit score? Or is this a rookie/sketchy move?

@Aaron Montague The link just takes you to a login page.

Well, Mr. Sheets, if you DO happen to find a non-MLS property in an up and coming neighborhood with some up front equity and good cash flow, I'd be very interested in a JV partnership.

...what would you do with it?

(Obviously, I'm looking for purely RE related answers)

@Jason Luo I was under the impression that being turned down for a loan was pretty much THE next step after identifying a property you're interested in... Giving up normally isn't supposed to happen until a tornado carries the building into the neighbor's yard and your insurance company disappears in the middle of the night. Obstacles are instruction manuals at this stage in the process.

@Dion DePaoli THAT was a well thought out response, and just made this thread more interesting. Kudos.

@Troy Sheets Hmmm.... The deal itself isn't too bad, from a passive income standpoint, do you have any other JV properties and partners at this time?

@William T. Thanks, I've been using those too, but didn't know if they were hitting closer to the marks. Have you noticed any inconsistencies with them? I mainly liked Zillow because it works well as an app on my phone and iPad. I think trulia and realquest have apps too. I will check it out!

@Troy Sheets Could you possibly outline an example deal?