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Updated about 7 years ago,
Young Newbie with a question about Lines of Credit.
Hello, I am 19 and just started learning about real estate investing. I'm posting this hoping some experienced investors can give me input on lines of credit. Within the next 2 months I will be starting to work as an apprentice after my first month of working I plan to open 3 lines of credit. The first line for usage of Propertie loans, the second for rehab cost, and the third line for my everyday/weekly/monthly needs (non real estate related). I plan to build credit on all three credit lines over the next 2 years untill I qualify for a conventional loan. Could I please get some opinions, is this a good idea or bad idea?
Also i would be grateful if someone could link me to a book on this topic.