Many of my real estate investing colleagues have asked where I learned how to get my lines of credit for real estate investing. I share many of those techniques in my book Crushing The Credit Bureaus
One of the techniques I use is called “seasoning”. For those of you who don’t know, the term refers to having a large amount (around $50,000) sitting in your personal or business bank accounts earning interest and “seasoning” for a time. Usually 3-6 months untouched. When you are in the process of going for your 7 figure lines of credit, your bankers will love the fact that you have a significant amount of money in place that isn’t being used or tapped into on a monthly basis.
It’s the old story of “you get money when you don’t need it”.
Well that is exactly what happens here, once you build that relationship and history with a bank, they literally fawn all over you to give you money. Remember though, your credit scores will come into play no matter what anyone tells you. Yes, even if it is going to be in the name of a corporation.