Personal Line of credit

[Account Closed]

I would love some more information from anyone who has had success with receiving a line of credit purchase real estate. I would like to start working towards getting one however I am unsure which option would be easiest. I really am striving to find a company that won't require the standard W2 and tax returns. Anyone complete this recently?

Thanks!

[Judah Alexander]

I have 2 ploc's. One for 15k(max amount) and another for 25k(max amount). They are credit based and you don't usually need to send in W2 and tax returns with a credit application. You will be asked your income though.  When I first started out I used them mainly to pay points to hard money lenders. If you are short on funds 40k is nice to have in a pinch if there is a deal you just don't want to pass amongst other things. Remember to pay yourself interest as an expense. You are loaning money to your business and deserve to be paid fairly. Beware that while these lines are still useful they are closer to credit cards as far as interest(14%-25%). 

Wells Fargo seems to be the most useful for personal lines of credit.