Financing for a new LLC - Posted by Kevin

import · October 8, 2003, 11:35am

Posted by Jason Jones on October 10, 2003 at 14:40:53:

Patent Pending program guarantees a pay dex score of 75 or higher which is needed to business credit without giving a personal guarantee. This program works in 6 months. Call me if you have any questions 800-508-1872 x3201. Jason, Active Real Estate Investor

import · October 8, 2003, 11:35am

Posted by Kevin on October 08, 2003 at 11:35:21:

My business partner and I are new to real estate investing and have formed a LLC in Montgomery County Texas which is just north of Houston. Both of us have good credit but can not seem to locate a mortgage company that will loan in the name of the LLC. Can anyone give advice on how a new LLC with no assets or income can get a mortgage in the name of the LLC?

Thanks,
Kevin

import · October 9, 2003, 4:15am

Re: Financing for a new LLC - Posted by Desiree

Posted by Desiree on October 09, 2003 at 04:15:32:

I’m going through the same thing. Everyone wants a personal garantee unless you have business credit and a rating of 75 to 80 on Dunn & Bradstreet, then you can get a loan without recourse to you.

The LLC has to establish itself with some business credit and tax returns and 2 years of being in business. That’s all I’m hearing right now.

import · October 8, 2003, 9:40pm

Re: Financing for a new LLC - Posted by RM

Posted by RM on October 08, 2003 at 21:40:17:

My experience is that you need to establish credit with your LLC first. The best way to get properties when you are new is to get them under your name or land trust.

I’m here in Houston as well.

Good luck!!

import · October 9, 2003, 1:15pm

Re: Financing for a new LLC - Posted by Jason Jones

Posted by Jason Jones on October 09, 2003 at 13:15:16:

I have a patented program that will guarantee your corporation or LLC a score of 75 or higher in 6 months. Please give me a call at 800-508-1872 x3201 if your interested. No obligation and a money back guarantee. Will give you a special rate for CRE Online if your interested.

import · October 9, 2003, 6:07am

Re: Financing for a new LLC - Posted by Kevin

Posted by Kevin on October 09, 2003 at 06:07:11:

Thanks Desiree. We are willing to provide a personal guarantee to get the business established but have not been given that option. Can you provide any contact details for companies that will finance with the personal guarantee?

Thanks,
Kevin

import · October 9, 2003, 8:49pm

Re: Financing for a new LLC - Posted by George Willliams

Posted by George Willliams on October 09, 2003 at 20:49:45:

I’ve just formed a LLC. Can you please tell me more about your program.

import · October 9, 2003, 6:41am

Re: Financing for a new LLC - Posted by Dimpil

Posted by Dimpil on October 09, 2003 at 06:41:04:

What I’m doing is this; Finacning everything in personal names (my mother and me) then quit claiming it over to the LLC so the LLC will hold the deed/title. When we go to refiance next year the LLC will have built a record so the LLC will then be able to get a commerical loan (as the LLC is a business). We will still need our credit pulled and we will still need to be the guarantor but the LLC will be abel to better qualify as it has paid the notes for 12 months.

So far that is all I know.

import · October 11, 2003, 11:22am

Re: Financing for a new LLC - Posted by Ann

Posted by Ann on October 11, 2003 at 11:22:41:

Does this work in every state. How does this work if you are requesting a line of credit. Compatable with Ed’s program to establish a line of credit or am I off the mark in asking this question.