I am having a little trouble getting line of credits on my investment properties in Pittsburgh, PA. The first hurdle is that most of the properties would have a loan under 50K so most brokers stay away. The second hurdle is that I am in Northern Virginia. So the local banks are shying away. Any suggestion would be greatly appreciated.

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Michael C. Glass
REMAX Select Properties
Licensed to Practice Real Estate in Virginia
20 Pidgeon Hill Drive, Suite 201
Sterling, VA 20165
703-444-5900 (O)
703-723-2379 (D)
703-444-5921 (F)
http://www.moveupwithmike.com

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Two easy ways are to pay nothing out of pocket or have a ready supply of investors to flip properties to via double closings.

Depending on whom your investing for...

If for yourself simply set up short chines to HELO's. Recommend never exceeding 3 to 5 and always in LLC or trust.

If for an investor client, have them set HELO's on their properties. Again advise them to limit liabilities via Trust.

Set up HELO for $100k+ for multi property purchases within a Trust.

Or flip a few and then pay Cash... a far more powerful option.

I have read that a line of credit is hard to come buy. REED- wrote about an OREO investor who had to buy the loan officers OREO's in order to get the line of credit. I'm sure you have tried Fleet Boston's easy line and others. Have you tried bringing in partners who pledge their equity? Good luck