Rejected on getting a line of credit.
I recently applied for a line of credit that was going to be backed by a multi family building I own outright. I like the idea of a line of credit due to the fact that I can pay cash quickly for deals that I find. I own a restaurant that I have improved since I took over but it still does not cash flow well. This was the reason that I was rejected along with the fact that I have a little too much debt. I think I am going to put together a portfolio describing exactly what I want to do and how I plan on doing it to present to the other banks and credit unions in the area. Does anyone have any advice for me?