All Forum Posts by: Eric Robertson

If you are looking for a business line of credit make sure you have a strong business credit score as well as personal credit.

If you can get the bank to agree to that number, but do not have an end buyer, why not keep the property if it can make money with twice the amount of money into as you are planning to spend. You should be able to get a pretty good profit off of it. How is your credit score? Could you get traditional financing rather than flash funding? Or better yet do you have a corporation with a decent to strong business credit score that you could get financed with so you are not risking any of your personal assets?

The first questions that come to mind are, how much for the property? How much can you afford to put as a down payment? How is your personal credit? How is your business credit? Do you have a corporation setup? How much do you need for construction? There are a lot of factors that go into this kind of financing. For example if you do not have a strong personal credit, or a storng business credit score, you are gonna need collateral. Do you have any besides the 3 properties? And what kind of equity do you have in those 3 properties? A little more information and myself or someone else may be able to point you in the right direction.

There are many companies you can use to help you establish a strong business credit, or corporate credit score. I would just make sure if you search for one online, find one that has been around for awhile and always ask for referals.

There are ways to get finacing without using personal credit, but no credit at all is unlikely. You can get financing based on your company's credit if you have a strong business credit score. If you have good personal credit and business credit, well then that is the best case scenario.

Let me ask, are you buying this property to live in, or as an investment? Because if you are buying it as an investment property and you have a corporation setup, I would establish a strong business credit score.That way you can get financing without a personal guarantee. I assume your personal credit is not great, that is why you are having difficulty getting a lender to work with you.