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General Real Estate Investing

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Steve Dussault
  • Real Estate Investor
  • Indianapolis, IN
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Line of Credit - Best Banks

Steve Dussault
  • Real Estate Investor
  • Indianapolis, IN
Posted Mar 22 2010, 06:48

I am seeking to set up an unsecured line of credit for my real estate business. I want to be able to buy quickly and then put the property under a mortgage later. A line of credit would be a lot cheaper than using "hard money."

I have a 5 year old LLC and good personal credit that I can use to guarantee the line. Anyone have success doing this? Which banks are best for this? My local banks all do secured lines, but I don't have enough equity in one property for this and need an unsecured line.