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Updated 10 months ago on . Most recent reply

Liam Ritter's profile image
Liam Ritter's profile image
Liam Ritter
  • Member since Jul 26, 2024
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Liam Ritter's profile image
Liam Ritter's profile image
Liam Ritter
  • Member since Jul 26, 2024
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Liam Ritter
4
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8
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Personal Finance

Got an unsecured business line of credit

Liam Ritter
Posted

Got $100k business line of credit with 710 credit score to buy some more properties.

Do you think it is better idea to buy a rental house (worth $70k) with the credit card paying all? Or do downpayment 20% with it (approx. $14k) and get a DSCR for 80% to close?

APR 0% for 18months

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Myeasha Jones's profile image
Myeasha Jones's profile image
Myeasha Jones
  • Property Manager
  • from San Francisco, California
  • Member since Feb 17, 2020
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Myeasha Jones's profile image
Myeasha Jones's profile image
Myeasha Jones
  • Property Manager
  • from San Francisco, California
  • Member since Feb 17, 2020
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Myeasha Jones
  • Property Manager
  • San Francisco, CA
17
Votes |
53
Posts
Myeasha Jones
  • Property Manager
  • San Francisco, CA
Replied

I am curious with what bank is the line of credit? - I need that! 

Which of the two options make you more uncomfortable? Do that 1.

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