Business Line Of Credit

[Daniel D.]

Hey guys newbie starting from scratch here. I'm currently located in NYC where the big players play lol. I have 25k saved up but I realize that through research my money would go WAY further out of state. Right now I'm looking at Ohio preferably Cleveland, doing buy and holds. My main goal right now is figuring out different ways and avenues I can

receive capital.

What are some strategic ways a person in my shoes can receive funds? Ideally I would want to obtain a business line of CREDIT with a bank or credit union in NYC. What steps should I take to achieve this goal?

Thank you all for taking the time out to read all of this I greatly appreciate all the help and words of encouragement this site has to offer !

[James Wise]

Originally posted by @Daniel D.:

Hey guys newbie starting from scratch here. I'm currently located in NYC where the big players play lol. I have 25k saved up but I realize that through research my money would go WAY further out of state. Right now I'm looking at Ohio preferably Cleveland, doing buy and holds. My main goal right now is figuring out different ways and avenues I can

receive capital.

What are some strategic ways a person in my shoes can receive funds? Ideally I would want to obtain a business line of CREDIT with a bank or credit union in NYC. What steps should I take to achieve this goal?

Thank you all for taking the time out to read all of this I greatly appreciate all the help and words of encouragement this site has to offer !

 Best thing you can do with that $25,000 is to use it as the down payment on a duplex in the $80,000 - $100,000 range. This puts you in a solid B-C Class neighborhood with relatively consistent cash flow and a mortgage with great terms. Everyone is quick to borrow bad money, don't do that. Stack cash & utilize the 30 year money banks give out, best money in the game. 

P.S.

For reference as to what I mean when I say B or C Class neighborhood check out The Ultimate Guide to Grading Cleveland Neighborhoods.