Quote from @Brian Locker: @Heather McNicol what did you think of the BP short term rental boot camp?

The appraiser gave the house a low score so the bank said it is a risky investment for them and gave me a 70% loan.

The reason for this email is that we need to schedule a call with a representative about our direct deposits to our bank account, we keep having the same problem every month.

@Glenn Banks ok can you tell me more about it?

.- Depends on what you're doing specifically, but usually I'd recommend getting an EIN at least to give access to business bank accounts- Repeating #1, if you're going to a property and 100% of your time is spent doing renovations and the like, sure, but if any of it is for personal benefit, that'd be disallowed.

A traditional bank will not give a line of credit even if there is significant equity because it boils down to being able to pay back the money. 

“ cash flow returns” almost always compare horribly to a simple bank CD after you deduct for insurance, prop taxes< vacancy, capex, prop management (or your personal time.) etc etc etc. 

So you better find something that cash flows or you’d be better off putting the money in a bank CD. 

And assuming a 0% return on the $200k you could have in the bank earning $10k/year if you sold. 

Hard money lenders are much more like banks and come with many restrictions, requirements, due diligence, fees, etc.