Corporate Funds?
I currently have one rental property, but I'd like to acquire more in the very near future. I need to improve my personal credit history/rating though. If I were to start a corporation ,would it be any easier to sell the home to it. Then take the equity as purchasing capital? <IMG SRC="images/forum/smilies/icon_confused.gif">
Thx CC[ Edited by MRCCAL on Date 10/31/2003 ]
The corporation is useful for certain tax purposes and personal protection.
It will not change your credit situation. When you are attempting to purchse properties through the corporation, the will still look at you credit as you will need to guarantee the loan.
I was also a little confused about what you said about selling the property to the corporation. If the corporation buys the property, you would need to fund the corporation for the purchase, so I don't see how you got ahead?
You can transfer title into the corporation without a sale if you are looking for the protection