Skip to content
×
Pro Members Get
Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
ANNUAL Save 16%
$32.50 /mo
$390 billed annualy
MONTHLY
$39 /mo
billed monthly
7 day free trial. Cancel anytime
Creative Real Estate Financing
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated over 2 years ago on . Most recent reply

User Stats

50
Posts
15
Votes
Everett Morris
  • Homeowner
  • Brandon, MS
15
Votes |
50
Posts

Lines of credit question

Everett Morris
  • Homeowner
  • Brandon, MS
Posted

Hey everyone! 
I recently been looking at other lines of credit options to buy more real estate. I am having a hard time with securing a HELOC, because I don't have enough paid down on my current home. Is there other lines of credit I can explore? I have an LLC that I have my rental income going to. That was recently started last month. I currently rent rooms out in my primary. I am not cash positive, but it has brought my cost down to about 300 a month.

  • Everett Morris
  • Most Popular Reply

    User Stats

    2,618
    Posts
    898
    Votes
    Dave Skow
    • Lender
    • Seattle, WA
    898
    Votes |
    2,618
    Posts
    Dave Skow
    • Lender
    • Seattle, WA
    Replied

    @Everett Morris contact your bank and also smaller credit unions and bank in your area and ask for a personal LOC ...rate will be high if you qualify and you likely will need to pull funds out and deposit to your account and let season for 2-3 months before you can buy another property

    Loading replies...