Buying Property With Business Credit
Hey guys,
I found this 9 unit portfolio that cashflows about 50% or above COC ROI that's all stabilized with Section 8 tenants. I have been building a rapport with the agent involved and definitely want to make an offer. The only thing is I don't have enough money for the down payment. I know that I will be able to get some of the best rates for a DSCR loan because of my credit which is at a 755. So with that being said I'm thinking about applying for business credit that way I can use that as my source of funding for a down payment. I've already been pre approved for a business/personal credit card/line up to $150k. I need $90k for the downpayment. I just wanted to know if anyone has actually bought properties using either a business credit card or a business line of credit. How exactly did you do it?