Offline1. I need my LLC. my equity line of credit also apply for loan to accquire for propoerty.
2.If I apply for equity line it needs to be personal.then apply for llc.Then buy property in business name?
Can anyone suggest what first?
I need to apply for equity line of credit {personal}.
Or do I neeed to get llc first?then apply for loan too purchase duplex{2} of them.Some one help!!!!!
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Depends on your strategy. Sounds like you're applying for a loan, which to means me buy and hold, not assign / wholesale.
I would simply apply for the loan in your personal name and hold the property that way, and purchase an umbrella policy for liability protection. That's my personal preference. My attorney advised against an LLC for the buy and hold strategy, because it just creates unnecessary paperwork and additional costs.
Let us know how it goes and good luck!
- Tom
If you are a buy and hold, your loan comes first. You won't need an LLC until you get a few deals under your belt. Consult with your attorney and accountant before you proceed with your LLC filing, they can save you a bunch of grief...Jan