Flip that house question

by Joe

How did you finance this one?

LM Says: Joe this was financed with a line of credit that I use for my real estate business. For future purchases I am working on acquiring private money so that I can further expand. I'll keep you posted.

Comments for Flip that house question

Average Rating starstarstarstarstar

Click here to add your own comments

Follow up questions on flip that house
by: Joe

Is the line of credit unsecured, secured against you personal residence, or secured against another investment?

LM says: Joe, it is a line of credit secured with another property. I also own rental property and the line of credit is secured by the equity in those properties. However, I do know other investors that have secured lines of credits against personal assets. This is done with small local banks. This is something I am working on so that I can expand my purchasing power and therefore my business.

Click here to add your own comments

Join in and write your own page! It's easy to do. How? Simply click here to return to House Flipping.

wealth steps rss feed wealth steps facebook wealth steps twitter wealth steps google plus

Get on The Road to Wealth!

Subscribe and get access to my FREE ebook and tools for investing and managing your money.

Your Email:

Your Name:


E-mail will not be shared with anyone. See our privacy policy.

wealth steps blogWealth Steps Blog Newest Content:

wealth insights newsletterNew Posts by Email

Lets Connect!

Best of Wealth Steps

Most Popular:
My Current Project: Flip That House
Importance of Financial Planning Signs That You Need Credit Counseling Debt Relief
The 6 Steps to Basic Financial Planning
My First Flip: Flip This House
Simple Net Worth Calculation
My Favorites:
Going From Debt to Wealth by Focusing on Wealth
Solutions To Credit Card Debt: The Debt Snowball Plan
Dealing With Problems When Flipping A House
Buying Foreclosures – Creating Wealth with Foreclosure Investing
Building Wealth Through Dynamic Planning