100K Personal Line of Credit good or bad for BRRRing?

[Alfonso Aramburo Zepeda]

Today I got an offer from my bank that I’m approved for 100K in a personal credit of line.

I don’t have any rentals income as I’m about to buy my first one. Truth is I’m highly motivated to start my investor journey in real estate and want to speed up the number of investments per year by financing creatively. This being said, I’m exploring all possible option and running numbers.

Now, before jumping the gun anyone out there with good/bad experiences on this type of credit lines?

Your insight will be much appreciated!

[Craig Jeppesen]

Originally posted by @Alfonso Aramburo Zepeda:

@Craig Jeppesen

Jeez, it is scary to get into loans! I think I will BRRRR a property in the cheapest possible neighborhood just to learn & get some confidence.

It is not scary, just make sure you understand how everything works. People get in trouble with all kinds of things in life because they don’t take 20 minutes to read and understand what you sign. Good luck.