Why a business line of credit?

[Ryan B.]

Forgive my ignorance, but I just want to make sure I am thinking correctly.

I have a home equity line of credit that is open and I can draw cash from whenever I want, is a business line of credit along the same theory (except my house is not the collateral) where I draw cash from it as needed for my rental property business?

Also, is your main purpose for having the business line of credit so that you can make cash offers on properties with it and then after purchasing the property set up a loan with the bank to clear the line of credit again? Thus hopefully being able to close a deal quicker and maybe get a better price since you were able to offer cash.