Multiple Lines of Credit

[Michael Garrett]

I am still in search of my first deal so I'm busy looking while also seeking out funding options. Since I am just starting out flipping single family homes, I have no documented experience or homes as collateral so getting a giant amount of money is unrealistic. I've thought about approaching multiple banks asking for smaller sums of capital via unsecured lines of credit and pooling those lines together to purchase the properties I'm looking to rehab. I've already had one bank tell me they can use my "day job" as income in place of previous year business cash flow.

Is this a viable option? If I qualify for one line, will that make getting subsequent lines difficult or impossible?