Creating an LLC and Managing Business Credit Cards

This chapter discusses the process of creating an LLC, applying for a business credit card, and the impact on personal credit scores. It also covers the importance of an EIN, organizing LLC documents, and the limit on credit cards for business accounts.

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Want to know how to start an LLC for real estate? Whether you’re looking to form investing partnerships or avoid being sued, creating an LLC is one way to protect your personal name and assets. With that said, there are several factors to consider before setting one up!

Welcome back to another Rookie Reply! Each week, our inbox is flooded with questions about LLCs, so we’re dedicating an entire episode to the topic! Tune in as Ashley and Tony share their own experiences with LLCs, their benefits, and issues you might encounter. You’ll learn about the requirements for LLCs, when to put multiple properties under one LLC, how to apply for bank financing, and how to take advantage of business credit cards!

If you want Ashley and Tony to answer a real estate question, you can submit a question here, post in the Real Estate Rookie Facebook Group, or call us at the Rookie Request Line (1-888-5-ROOKIE).

In This Episode We Cover:

How to start an LLC for your real estate business

Requirements you MUST meet to keep your LLC in “good standing”

How to apply for bank financing as an LLC (and prevent a deal from falling through!)

The hidden mortgage clause you NEED to know about

Alternative asset protection strategies to consider for your real estate business

The biggest differences between an LLC and umbrella insurance

And So Much More!

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