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Updated 11 months ago on . Most recent reply

User Stats

8
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2
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Mike Farr
  • Sacramento, CA
2
Votes |
8
Posts

HELOC or Business line of credit

Mike Farr
  • Sacramento, CA
Posted

I am new to the investment game although i have listened, studied and taking courses for years. I have a fully paid off property in an LLC (open to quickclaim deed for the loan) that I am trying to use the equity to BRRRR and begin investing. I have talked to and applied with a few lenders but havent had much luck. My income is a bit low but my business partner does have a solid income. Both of our credit is well into the 700s and the property estimated value is 900k plus. Is there something i am missing?
To be honest (as a business owner myself) I have been surprised by the professionalism and communication skills of these lenders. 
Are there any lenders or CU you all suggest to get this done a bit smoother? 

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