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Updated over 7 years ago on . Most recent reply

Rigo V.'s profile image
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Rigo V.
  • Investor
  • from Morris Plains, NJ
  • Member since Jan 20, 2017
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Rigo V.'s profile image
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Rigo V.
  • Investor
  • from Morris Plains, NJ
  • Member since Jan 20, 2017
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Rigo V.
  • Investor
  • Morris Plains, NJ
47
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294
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Buying & Selling Real Estate

How did you use your personal unsecured line of credit?

Rigo V.
  • Investor
  • Morris Plains, NJ
Posted

Would anyone be willing to share their story on how you used your personal unsecured loc? The numbers etc.

I am interested in going this route versus a HML and wanted to see how its worked out for others.

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Andrew Kerr's profile image
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Andrew Kerr
  • Rental Property Investor
  • from Everywhere, USA
  • Member since Aug 18, 2012
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Andrew Kerr
  • Rental Property Investor
  • from Everywhere, USA
  • Member since Aug 18, 2012
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Andrew Kerr
  • Rental Property Investor
  • Everywhere, USA
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Andrew Kerr
  • Rental Property Investor
  • Everywhere, USA
Replied

@Rigo V. - I use my LOC multiple ways. I have used it to buy land that will then be built on; I have used it to buy properties for cash; I have used it to fund short term renovations as well. What I have avoided using it for is as a fix for long term financing.

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