Borrower tip if you own and LLC and are borrowing money. Remember, when your bank says NO, we say YES!
Jack: Hey Jack and Marcy at Gelt Financial.
Marcy: Hi! How’s it going?
Jack: It’s going pretty good, Marcy. We’re having a pretty busy day.
Marcy: What’s the tip of the day?
Jack: The tip of the day is often overlooked. If you’re an LLC or a corporation, have all your LLC or corporate docs up to date. Whether you’re buying or refinancing, every lender is entitled company is going to want it: up-to-date operating agreement, accurate operating agreement.
Marcy: EIN.
Jack: EIN, certificate of good standings. Again, one of these little things, it’s not a big deal if dealt with early, but if it’s dealt with like an hour before settlement.
Marcy: It’s a problem.
Jack: It’s a problem.
Marcy: Also, you know who’s in your LLC. So, like if there’s a trust in your LLC, you know things are more complicated. Let’s discuss it all ahead of time and have all the documents, so that we can just move right to closing.
Jack: Yes, let’s discuss this. I would like to discuss; I want to discuss more. Anyway, remember when your bank says no, we say yes. Tip of the day, like the video, subscribe to the channel, leave your comments, what else.
Marcy: Have a good day.
Jack: Have a great day.
Category: Borrowers
Tag: pro tip
