When Is the Best Time to Get Money from a Bank?

Banks love giving money to borrowers who don't currently need it and it can be hard to get money from a bank when you actually do need it. Right now, we're in an environment where the banks are making it pretty darn easy to get money. However, the market is getting a little bit tighter so make sure your debt service is in order.

Now is the time to make sure all your investments are properly leveraged to what you’re comfortable. With the way things are going, it could come to a point that you may have a lot of free and clear assets, but you still might not be able to get bank debt.

I'm not saying go leverage up all your properties and turn your assets into liabilities, I’m saying be smart about things. Instead of getting the second mortgages to access the cash, maybe get a home equity line just to have access to when you need it.

Again, don't leverage it to the hill and take out all the cash but access to a line of credit if you need it or you think you may need it in the future because it may be harder if banks tighten up lending. Now is the time to think about that, even if you currently don't need it.