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Updated over 7 years ago on . Most recent reply

Tony Mondalano's profile image
Tony Mondalano's profile image
Tony Mondalano
  • from Chicago, Illinois
  • Member since Jan 4, 2017
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Tony Mondalano's profile image
Tony Mondalano's profile image
Tony Mondalano
  • from Chicago, Illinois
  • Member since Jan 4, 2017
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Tony Mondalano
  • Chicago, IL
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Starting Out

Advice on a line of credit

Tony Mondalano
  • Chicago, IL
Posted

I’m currently in the process of finding a house to do my first flip. I initially planned on funding the whole deal with my own cash but am  also interested in learning more about financing. My realtor introduced me to a broker that sent me some info on a line of credit from FINANCE OF AMERICA- COMMERCIAL-. He explained it to me that it’s a liquid asset based Loc, they give 5x the amount of cash that you have in the bank, minimum credit score of 600. Anyone have any experience with Finance Of America or similar lines of credit? Any advice or input is greatly appreciated. 

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Eric Taylor's profile image
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Eric Taylor
  • from Orange County, CA
  • Member since Jan 3, 2017
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Eric Taylor's profile image
Eric Taylor's profile image
Eric Taylor
  • from Orange County, CA
  • Member since Jan 3, 2017
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Eric Taylor
  • Orange County, CA
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Eric Taylor
  • Orange County, CA
Replied

Tony- did this turnout to be a viable financing option?

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