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Updated almost 5 years ago,

User Stats

3
Posts
2
Votes
T D
  • Real Estate Investor
  • Peoria, IL
2
Votes |
3
Posts

line of credit

T D
  • Real Estate Investor
  • Peoria, IL
Posted

Hello,

This is my first real post on bp (not counting an introduction several months ago). I was wondering what is needed to obtain a line of credit these days.

Here is my current situation:

26 yrs old, investing in RE for the past 5
Currently have 10 single family/multifamily properties
I have about 40k in savings, 20k in retirement, and 60k in equity of one rental property. Could i use this as collateral to obtain a line of credit of roughly 75k? I'm tired of losing deals to people with cash offers.

thanks

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