All Forum Posts by: Sol Romand

Well, make sure credit is good, review the business tax return for health of the company. Part of our company strategy is setting you up with multiple banks to achieve maximum unsecured LOC.

I've used business credit cards for all renovations. It's cheaper then hard money and the supply vendors normally take credit cards so I don't pay the transaction fee. BTW did you ever think about unsecured line of credit? Shoot me a DM if that interests you. 

Well just my take but it really depends on your rate and how big your line of credit is. Your game plan can include using the bigger leverage as well. I have customers who will use a LOC to purchase a house AKA cash purchase, and later refinance their entire purchase price. This gives them a bargaining chip when coming to the negotiations. But as some have said earlier be cautious not to over leverage, and make sure you can afford the payments with some extra reserve. If numbers are great then using your cash to carry you over is not unheard of. Just my 2 cents.

Sure, I started my RE journey using 0% APR business credit cards for renovation cost as they don't show on the personal credit report. Credit cards have an advantage that 1) They're easy to obtain 2) You can get some great 0% APR offers. However credit limits can be low and unpredictable. If your business is healthy and you can afford the interest payments then lines of credit can be a great option. I've got experience obtaining them. Shoot me a DM if your interested in learning more.

This is an old post but may as well add my 2 cents. Sure, we have done this both with conventional lenders as well as SBA programs and there are ways to get more than 100% financing if you can support the loan with your business financials.

Thanks

You might think of buying a business occupied property and renting out the rest.

I can help you with business LOC if your interested. Send me a DM and let's talk

Picked up on this old treat. Wondering if anyone has done this recently? It would seem that these small offices are more the trend now.

I've got some customers who are leveraging their business LOC to invest in RE. I'd gladly share what I know if your interested. Just shoot me a DM