I have been in and out of the carpentry business for just about 20 years, and have just been let go from the last company last week. I have extensive experience in all fields of residential construction. (minor electrical, plumbing, drywall, cabinetry, decks, basement finishing, etc....)

First question, I want to get this business running and protect myself and my family. I Live in the Chicago SW Burbs, and looking to find out what I need as far as insurance, bonds, getting INC. And how and where do I do this? And what the cost’s might be?

Second, someone told me I should get a business loan. In the line of that, was told that I should Inc. the business 51% in my wife’s name because some minority thing for loans. Does this make any sense to anyone?

Third.. .I have, and want to buy and sell fixer uppers, and not having the greatest credit, (current credit score is 640) not sure if I can get a loan to buy houses or town homes, to fix up and sell. So any advice on how I can go about doing this would be greatly appreciated.

Last, if the previous isn’t an option (not qualifying for a loan), I was wondering if there is anyone or someone who might know of someone that would be interested in being a partner, in this venture. I have a few other capable hands that want to work for me and do on some of the bigger jobs I do, so, quick turn around on repairs would be a breeze.