My husband and I just bought our first house, we are looking to rent out the basement and live upstairs. The house needs some work cosmetic work and minor priorities. We don’t know if we should do a business line of credit to fix the house or if there are other better options ?? We don’t want to use our cash because we do plan on investing it in the near future for a second property.
@Ingrid Rivera I’ve never used a business line of credit, but I have financed smaller rehabs on “no interest for 12 month” credit cards. I know Home Depot offers one and I’ve used a Best Buy credit card for this also. After I paid everything off, I just canceled the card. Would definitely recommend it!
That sounds interesting, thank you I’ll definitely look into it
@Bryan Balducki Why did you cancel your credit card?
@Michael Mejia I canceled this particular card because I know longer has use for it. I have other cards that I use more frequently and didn’t want to have too many cards, as it is something to keep track of. It worked great for financing what I needed.