EP 93 - Don't Get Wrecked By Lines of Credit!
Collecting Keys - Real Estate Investing Podcast
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Lines of credit have a reputation of being very secure, but that isn’t entirely true. We were one of the “few” where a line of credit was pulled and had to pay it back within days.
This happens more often than we think, so we thought we would take this opportunity to relay what we discovered about lines of credit and how to stay productive while financing.
In today’s Friday Focus episode, our host, Mike Dehaan, will be going over what happened when our line of credit was pulled, why it was pulled, and steps that you could take to mitigate the potential disaster losing your line of credit could cause.
There is a simple yet effective strategy to ensure you are leant to in this recessionary economy, while also being prepared in case your line of credit is pulled.
Tune in to hear how you can make the most of having a line of credit and what to do if it is pulled.
Topics discussed in this episode:
- Why line of credit isn’t as reliable as we think
- How to stay productive in your business if you rely on financing
- Relationships are more important than ever
- Why our line of credit was pulled
- Importance of checking in to the products you are involved in
- Don’t renew your line of credit at the same time
- Use exploration for cash on hand not lines of credits
Download the FREE 5-Step Guide To Generating Off Market Leads here: https://www.collectingkeyspodcast.com/free
If you are interested in learning from Dan and Mike to receive coaching and learn how they built their business, head to instantinvestorprogram.com and see if you are a good fit for the mastermind group!
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This episode was Post Produced by Podcast Boutique http://podcastboutique.com
