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Updated almost 6 years ago on . Most recent reply

User Stats

603
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130
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Adam Craig
  • Investor
  • Cleveland, OH
130
Votes |
603
Posts

Lines of credit

Adam Craig
  • Investor
  • Cleveland, OH
Posted

I am trying to find more lines of credit - I buy most of my rentals properties for cash, rehab them, then refinance so when I have multiple jobs going at once money can get tight, especially around tax payment time :)

I have a 50K line for my internet business with CHASE.

I also have a 40K HELOC on my personal residence.

For someone with excellent credit, 200K+ NET, and 14 renal properties with about 500K equity.... Where would be the best place to get additional lines of credit.

I tried applying for a 75K Wells Fargo personal unsecured line of credit but got denied - I thought I would be a good candidate. Waiting for my letter to find out why. 

Any ideas before I start racking up applications on my credit report are appreciated.

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