If I start a corporation buying houses and renting them out.Is it possible to get a business loan to start it?

KB: If I start a corporation buying houses and renting them out.Is it possible to get a business loan to start it?

Answers and Views:

Answer by Heather C
sure. Go to a bank that specializes in SBA loans and talk to the bankers there. They probably have specialists who can help you with this.

Make sure that you have your business plan in order, and understand all of the real estate laws in your community!

Answer by tool
Only if you have collateral of some type. If not, you would have to just see what kind of mortgage you are able to get, take it out, and then do wit ht he house as you please. If you rent it it is your choice. As you make money off this you can take out a second mortgage and as long as everything is going well you can use those as collateral and start your business. Although you would want it to be an LLC not a corporation I assume. This will take years if you have no collateral or high paying secure job now.

Good luck! Dreams take time and hard work to blossom!

Answer by tljmom
I suggest talking to someone who is already in that field they can answer better than someone who has not.
if your credit is good, you should not have a problem getting a loan. but always be prepared before hand.
my tip for this would be to start out with two or three homes, but fix up one to sell so that you can pay down the loan and then go from there, don’t have several different loans on several different homes, it could take all your money you get from your renters.

Answer by Robert
Not from SBA