[mbhomes]

Hi everyone
im new to this site let me say i have found a good wealth of knowledge on the corporate credit section NICE. But not a lot with real estate especially investment properties.

I just closed on 3 homes (2 duplex's and 1 single family). they are owned free and clear with a market value (mv) of roughly 160k they are in indiana and one in ohio thats why mv is low. the single family is 3400sqft. So heres my question, i went to get a line of credit to fix these homes and purchase more. i was going to use the big house as collateral and this is what i was told "if the home is none owner occupied you have to hold title for minimum 90 days". WHY!!!!!

I have access and some connections with whole sale homes even 2-6 plex homes. but you need cash for these. now im stopped dead in my tracks until i sell the single and start getting the rent from the duplexs... errrr

ANYBODY HAVE ADVICE ON HOW TO SECURE FUNDS USING HOMES AS COLLATERAL.

I have been looking for a motivated hard working person to possibly partner with. If anyone is looking for the same i live in IN. Let me know