Show47: The Why and How of Obtaining a Line of Credit From a Bank

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 “How many millionaires do you know who have become wealthy by investing in savings accounts? I rest my case.” 

– Robert G. Allen

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So we've stepped out of our comfort zone a little bit.

But isn't that what it takes to grow your business?  Putting yourself in a situation that is different than what you're used to, so you can learn and grow. As we continue to move forward and plan ahead for our real estate investing business, one of our major goals is to start working with partners and creating relationships with banks.

While we have bought two properties in the recent months as our first partner deals, we also decided to start meeting with banks to get access to a line of credit that we can use in future deals.

Why?

That's exactly what we discuss on the show.  We felt that there may be a lot of you out there who may eventually want to get to a point of growing your business who may be interested in just how we went about doing this.  So tune into today's show to learn all about gaining a line of credit from a bank.

What You'll Learn...

  • What is a 'line of credit'
  • Why we decided to start looking for other ways to finance properties
  • How we went about calling and meeting with banks
  • What we took with us to the meetings
  • Our future plans with the line of credit

Resources Mentioned or Related To The Show...

 

 

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2 Comments

  • Congrats on successfully getting the line of credit. I bet they were impressed you came in so prepared, I’m sure they get a lot of people coming in that are completely disorganized and don’t know their numbers.

    • Emily

      Reply Reply April 6, 2016

      Thanks Brian! Yes, we are excited about having access to the funds. Now we just need to find the right property!

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