Line of credit to start investing

[Adam Bush]

I am looking for ways to get started while I continue to save capital. Is it possible to get a line of credit through an LLC if I am just starting out? My idea is that I would use the line of credit to flip properties to help build more capital quicker to invest in multifamily rental properties. Also instead of just flipping, would it be possible to use for a BRRRR type of strategy to keep the property as a rental and refinance to pay back what was borrowed from the line of credit?

Appreciate any insight.

[Brie Schmidt]

Originally posted by @Adam Bush:

I am looking for ways to get started while I continue to save capital. Is it possible to get a line of credit through an LLC if I am just starting out? My idea is that I would use the line of credit to flip properties to help build more capital quicker to invest in multifamily rental properties. Also instead of just flipping, would it be possible to use for a BRRRR type of strategy to keep the property as a rental and refinance to pay back what was borrowed from the line of credit?

Appreciate any insight.

You can talk with a commercial lender, it would depend on the value of the assets in the LLC. If the LLC has no assets yet you can get a unsecured personal loan, but rates are terms are pretty high