Opening an Investment "business" for rental property?

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bubba

New member
I'm 22 years old and 6 months ago I purchased a house that I am currently living in. When the time comes I would like to rent this house and buy a new one. My future plans are also to buy property for the sole purpose of renting them. Should I go ahead and get a business license for this now, so that bankers will take me more seriously when the time comes for me to buy investment property? What type of business license do you apply for when your intentions are nothing more than buying property and renting/selling them for profit? Is this something that would best be left on a personal level? Thanks for any relevant Info.
 
You may need a business license to be a landlord. You'll have to check with your city or county.

Concerning banks taking you seriously, all they care about is whether or not you can and will repay the loans. To be taken seriously, show them financial records that they can easily evaluate (e.g., balance sheet, profit & loss statement, cash flow statement, etc.)
 
You may need a business license to be a landlord. You'll have to check with your city or county.

Concerning banks taking you seriously, all they care about is whether or not you can and will repay the loans. To be taken seriously, show them financial records that they can easily evaluate (e.g., balance sheet, profit & loss statement, cash flow statement, etc.)
 
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