800 FICO, 100k cash, any way to leverage? - Posted by jason
Posted by jason on September 25, 2008 at 17:52:30:
I am looking to buy a few properties in the 70k range after rehab costs…rent for a year or 2, and sell in the 120k range.
I have an 800 FICO, low DTI ratio, and 100k cash.
What would be the best way to leverage this $$? I see that the banks have really tightened up so I’m not sure what’s feasible?
BLOC to a company established under 2 yrs seems impossible. Chase bank said they cant offer me any leverage if I put up my 100k as collateral in an account.
I hear it will be tough to get a HELOC on a rental property in first position. Is that so? If not, what kind of terms would be available? At a decent rate it may be a good way to go.