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Updated over 8 years ago on . Most recent reply
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Rec's for business credit lines
So I have been mostly using my brokerage account to buy properties as my credit line. No issues, and I have the cash to pay off the loan at any time. I am thinking about possibly getting a line of credit. Any suggestions on where to go? I currently use a large bank, but they tend to frown away from lending on investment properties under 1 million dollars. The other bank I also use was interested, but wanted me to move over to their private bank and transfer over my investments to them (they charge a management fee, which would equate to around 12.5k a year for doing nothing). Again, not interested.
Any ideas? I just want to have them setup so in case I need to use them they are there for quick purchases or renovations. Not really wanting a mortgage on any of my properties at this point.