Posted by fan man on November 09, 1998 at 23:36:56:
there are a variety of strategies to avoid the disclosure of the full scope of your personal assets and any potential personal liability arising from that ownership…
But that’s not what Im here to talk about. Find a nice, small bank in your area (make sure they have no plans to be purchased by a GREAT BIG BANK) and explain the full scope of what you want to do to a loan officer who understands real estate. I am a loan officer at a bank and currently I am doing about a dozen revolving lines of credit for small borrowers. The lines of credit are secured by real estate already owned by the borrower, and the available equity is leveraged as purchase money for more real estate (which is then added to the collateral pool). There are thoughtful bankers out there that can help you, the problem is there are also alot of a-holes.