All Forum Posts by: T D

Josh,

being a banker, if i was to walk into your office and i wanted a $100,000 line of credit, what would you need from me?

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

Hello,

I have been reading this forum for about a year but I have never posted. I am 25 yrs old, I have been investing for the past 4 years (mostly single family rentals) in Peoria, Illinois. I am looking to share ideas on financing with some investors that are in a similar position.

thanks,
tim