Posted by Mike Oldfield on May 09, 1999 at 21:14:05:
Tie up the proerty for 30 days then go get a $25,000 line of credit which should be easy with your other investment income. Dont tell the lender what your up to. Just tell them that you want some flexibility to take advantage od other opportunites as they come up. When the line closes go get that cash flow Yahoo!
If the deal doesnt fly you will still have the line for other deals. If it does you will restore with your cash flow from 8 units in only one year and you can do it again.
Shame on you. You should have a line established already! Now you know why.