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Updated over 15 years ago on . Most recent reply

Chris T.'s profile image
Chris T.'s profile image
Chris T.
  • Wholesaler
  • from Amarillo, Texas
  • Member since Jan 23, 2008

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369
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Chris T.'s profile image
Chris T.'s profile image
Chris T.
  • Wholesaler
  • from Amarillo, Texas
  • Member since Jan 23, 2008
Chris T.
  • Wholesaler
  • Amarillo, TX
75
Votes |
369
Posts
Wholesaling

Flipping to Buyer Using BOA LOC

Chris T.
  • Wholesaler
  • Amarillo, TX
Posted

I'm flipping a deal to an investor who is using a line of credit from Bank of America.

Should I expect anything different then a normal cash deal?

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Steve Babiak's profile image
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Steve Babiak
  • Real Estate Investor
  • from Audubon, Pennsylvania
  • Member since Apr 13, 2009

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Steve Babiak's profile image
Steve Babiak's profile image
Steve Babiak
  • Real Estate Investor
  • from Audubon, Pennsylvania
  • Member since Apr 13, 2009
Steve Babiak
  • Real Estate Investor
  • Audubon, PA
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13,453
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Steve Babiak
  • Real Estate Investor
  • Audubon, PA
Replied

The only risks to having LOC are that the line could be overdrawn, or the line could have been reduced or closed due to lending institution tightening things.

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