Unlock Your Real Estate Future: Which Stage Are You Truly Playing At Right Now?
Dave:
Those in our audience, Tony, who aren’t familiar with the term line of credit and what it can be beneficial for, can you just fill them in?
Tony:
Sure. So a line of credit is typically equity that you have on a property that you can go to the bank and say that I want to borrow against this property without putting a complete fixed term on it. What you’re looking to do is basically have the ability to borrow against it and pay interest only on it, and you only pay interest if you are borrowing that amount of money.
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