Show164: How we Doubled our Unsecured Line of Credit

unsecured line of credit

Lines of credit can be a great financial strategy when it comes to financing rental property.

Whether it be a HELOC, secured line of credit or unsecured line of credit it allow you some flexibility to acquire property.

What is an unsecured line of credit?

An unsecured line of credit is a revolving account that allows you to draw and repay based on your need for the money.

What’s great about an unsecured LOC is that you don’t have to put any personal funds or properties up as collateral for the access to the money.

This is the fundamental difference between a secured and unsecured line. For a secured LOC you must put up property or cash as collateral so that if you can’t pay the line back the bank may take your assets.

In this podcast episode we shared how we were able to take our secured line of credit to an unsecured line of credit…

…then we were able to get it increased by 50%.

Tune in to hear the strategy we used to reach this goal.H

Read More: The Ultimate Guide to Financing Rental Property