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Updated almost 2 years ago on . Most recent reply

User Stats

36
Posts
25
Votes
Alex Martens
  • Investor
  • Rochester, NY
25
Votes |
36
Posts

Would you use a personal line of credit to purchase a property?

Alex Martens
  • Investor
  • Rochester, NY
Posted

Hi all,

I am trying to find ways to fund my third RE deal. I was thinking that a possible solution would be to use a personal LOC to secure a property, then refinance into a conventional or portfolio loan. Assuming the numbers work with the refinanced terms, would this be a good idea? What else should I be aware of? I don't believe I have enough equity in my other two properties to borrow a useable amount. Thank you!

-Alex

  • Alex Martens
  • Most Popular Reply

    User Stats

    36
    Posts
    25
    Votes
    Alex Martens
    • Investor
    • Rochester, NY
    25
    Votes |
    36
    Posts
    Alex Martens
    • Investor
    • Rochester, NY
    Replied

    @Malcomb Stapel Thank you for your input. I appreciate it!

  • Alex Martens
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