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Updated about 1 year ago on . Most recent reply

Leroy K. Williams's profile image
Leroy K. Williams's profile image
Leroy K. Williams
  • Property Manager
  • from Southfield Mi
  • Member since Nov 11, 2018
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Leroy K. Williams's profile image
Leroy K. Williams's profile image
Leroy K. Williams
  • Property Manager
  • from Southfield Mi
  • Member since Nov 11, 2018
Connect
Leroy K. Williams
  • Property Manager
  • Southfield Mi
105
Votes |
101
Posts
Creative Real Estate Financing

Using existing property to create line of credit for flips

Leroy K. Williams
  • Property Manager
  • Southfield Mi
Posted

My family owns a property in one of Detroit's historic districts. It will likely appraise for $250,000.  I want to see about using this property to leverage for a line of credit for $125,000 for flip deals here in Metro Detroit.  How does this process work? I don't believe my credit is strong enough for a conventional lender. 

  • Leroy K. Williams
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