Using business credit for RE investing

[Vanessa Benavidez]

Hey guys I am finding a way to get into my first deal. I am in Los Angeles CA I have very little cash but $20k in business credit that I have considered using as a downpayment for a hard money loan, maybe a turn key or foreclosure out of state. Is there anyone in the community that has done something like this? Would love to hear your thoughts. Thanks.

[Christopher Owens]

@Vanessa Benavidez

Hi Vanessa;

I have experience in starting business and building business credit for purchasing Realestate...

I believe it would be in your best interest to gain key knowledge before making such a decision...

By knowledge I’m referring to mentors/ peers that have utilized this method.

Trust me; most if not all that has used this method does not recommend this given the knowledge base they now have.

However; if your insist on moving forward in the leverage of business credit... try increasing your current business credit from 20k to at least 100k.

This will provide you with more options in addressing any issues which may come up in the acquisition, rehab, holding process.

*** contact your business card holders and request a credit line increase!

Hope this helps!