Obtaining a line of credit

[Keyla Mcdaniels]

Hi everyone, I just had a quick question. How hard is it to get a $50,000 line of credit? And what are the requirements?

[Rob L.]

I will answer this with my favorite answer. 

It depends. 

Where did this number come from? Are you thinking of getting a personal line of credit? Business? An equity line of credit perhaps? 

For instance, we took out a $100k LOC on our primary residence after we finished our rehab. We went into it knowing our purchase price and the estimated work needed and what our ARV would be. So the $100k was our goal and realistic based off of our research.

Your 50k LOC question could be answered but more information is needed. Hope this helps.