Establishing Credit for LLC
I would like to start looking for properties to make offers on, but was wondering about making the purchases through an LLC for liability purposes. My question is two-fold. Is there a way to establish credit for an LLC and build a FICA score to do REI?
Is there a way to buy using my personal credit (640 FICA), and transfer TITLE without paying a large sum to transfer the ownership?
[addsig]
I am not sure how to establish credit for the LLC directly. However, I do know you can purchase property using your own credit and quit claim it to your LLC after purchase for just a recording fee.
Quote:
On 2003-06-04 21:18, caregvr wrote:
<IMG SRC="images/forum/smilies/icon_rolleyes.gif"> I am not sure how to establish credit for the LLC directly. However, I do know you can purchase property using your own credit and quit claim it to your LLC after purchase for just a recording fee.
Can you elaborate any on how to claim it to your LLC?