Feb 26, 2020
What if you could make $10,000 more on every flip, simply by paying less for capital? What if you could access large lines of credit with NO personal guarantees and not attached to your personal credit? How many more deals could you do? What would it add to your bottom line? How different would your life be 5 years from now if you could do two more profitable deals each year between now and then? These are the types of questions you should be asking when you begin to think about business credit. Now I’m not talking about the type of business lines of credit where you pay what amounts to 40% interest and you have to make daily payments starting the next day after you receive the money. I learned this business model the hard way about 8-9 years ago. I had a few conversations with some money guys in New York. Turns out they had clever ways to avoid having their interest rate labeled usurious, but they were work arounds. And they were a rip-off. Since that time I have been on the robo-call list as a sucker who needs money. I get 5-10 of these call every day. Still to this day.
But that is NOT what we are going to be talking about. We are talking about legitimate lines of credit for your business, obtained because of and on behalf of your business. These loans are solid and real. And I’m going to tell you right now that since I favor good quality debt backed by real estate, this program qualifies. Stephen Wible is coming up in a few minutes to explain it, which I will let him do.
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Real Estate Investing QuickStart
Announcements:
- The Flipping America REIA meets every Wednesday from noon to 2 and Thursday from 7-9. You can join the REIA and learn real estate investing from the comfort of your own home, or get together with a few friends and form a chapter in your area. Learn more at flippingamericareia.com.
- Flipping America App is in the app store. You can listen to the show, read the show notes, and the entire catalog of shows is now available to you. It’s a free download and there are no upsells or in-app purchases. Free to download, free to listen. Go ahead and give it a try and drop me a line and let me know what you think.
- FlipCalcs allows you to enter one data set about a property and consider up to six deal ppossibilities.
- “Real Estate Investing Quick Start” Fifteen lessons to start your real estate investing career. Study from the comfort of your own home. I give you 8 action assignments in lesson 1 and show you how to complete them while holding your feet to the fire over the next 15 lessons. bit.ly/requickstart.
News:
- Kathy Fettke called it on this show. Crystal lagoons could be a “wave” of the future. https://www.cnbc.com/video/2020/02/12/crystal-lagoons-is-disrupting-beach-front-real-estate.html
- Can investors also become HomeSnap pro users? https://www.housingwire.com/articles/homesnap-new-platform-guesses-when-people-will-move/
- People are on the move - away from expensive coastal cities. https://www.redfin.com/blog/q4-2019-housing-migration-report/
Topic: Business Credit, with Stephen Wible
info@creditsuite.com
- Home Depot Lowes, visas, master card, etc.
- Car loans.
- Email address is a potential red flag.
- Need a real business line.
- Google voice doesn’t work for this, Its not listable.
- There are 125 items in the fundability database.
- Wheel of fundability. Most of it is automated.
- LexisNexis
Your Questions: Send emails to questions@rogerblankenship.com
- Cherry, Atlanta “What do you see for the market in 2020?”
- Stephen, Atlanta, “What are your top criteria
for entering the market in a distant city?”
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