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Updated about 8 years ago on .

User Stats

1
Posts
0
Votes
Yakim Flores
  • Investor
  • Fort Lee, NJ
0
Votes |
1
Posts

Line of credit on 3 condos in same complex

Yakim Flores
  • Investor
  • Fort Lee, NJ
Posted

Hello BP community,

First of all, I'd like to sincerely express my gratitude to the entire BP community. 

I recently purchased 3 condos in the same complex for roughly just under 50k a piece. The purchase was all cash. 

I would like to take out single a line of credit with the 3 units as collateral. I do not want 3 distinct lines. Is this possible?

Id like an open line of credit as I do not have an immediate need for liquidity, but would like to be able to draw just in case.

Do I have any other or better options?

Please let me know if any additional information is needed.

Thanks,
YF