Flip that house question

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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.

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Flip that house question

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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.

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