How would you like to know how to get a HUGE LINE OF CREDIT with which to fund your real estate investing business even if you have foreclosures, bankruptcies, or late payments and a poor personal credit score? If that sounds like something you could use starting TODAY, then you’re going to love today’s episode. I interviewed two of the premier experts in a certain type of credit (this is not credit repair, folks, this is a real, live line of credit) and they told me (and, by extension, YOU, you lucky REI Today listeners) how to make this happen so that you can STOP looking for funding and START doing deals, pronto.
I’ll tell you all about it in just minute, but first I want to take just 30 seconds to bring up something pretty important that a lot of listeners brought up last week. You guys have been LOVING the Trump Tracker (thank you, by the way, and if you haven’t signed up yet, you can do so at www.rei.today/trumptracker, one word) but I’ve had so many requests for more information about Hilary and even Bernie (yes, a few of you either are “feeling the bern” or feeling concerned, I’m not sure which) and their possible influence on our national housing market that I’ve gotten right to work pulling together some very important information on both of these potential presidential candidates and their housing history. It’s coming very soon, so keep an eye on the REI Today Vault (or, if you subscribe to Trump Tracker, you’ll get it automatically) for a comprehensive real estate study on the remaining three presidential potentials left in the race. And whether you love him or hate him, go ahead and sign up for the Trump Tracker as well at www.rei.today/TrumpTracker where we’ll provide you with weekly updates about what the Donald is up to whether it’s taking on the media in a press conference or creating a stir in national publications that fear he’ll take over the media coverage of the presidential race completely. It’s your race, guys, your housing market and your country. You need to know what this guy (and his competition) are up to!
Now, back to the biggest reason YOU can’t get funding for your real estate deals (and what to do about it)!
So, here’s the deal: if you ask most new real estate investors what their biggest stumbling block to getting started in real estate, to really getting involved is, they’ll tell you one simple thing: (and believe me, it’s the stumbling block for a LOT of things in life) MONEY. Most investors who truly have the drive to be successful are able, willing, and dedicated to their own education, so they know how to find deals and what to do with them once they’ve spotted them. And yes, there are ways out there for real estate investors to do deals without ever using any of their own money. It’s completely true, and I’ve seen plenty of people do it. However, in the end, wouldn’t it be EASIER to make your real estate investing business work – or hey, just about any other business endeavor for that matter – if you had some startup funding of some kind? Of course it would! And most investors have a major, major misconception about where their funding should come from: they think it either has to come from themselves or from ANOTHER INVESTOR, be it a private money lender or a bank making a mortgage loan. And that’s the kicker for a lot of investors because they can’t GET personal loans for their investing. Maybe you have a bankruptcy or a foreclosure on your records. Maybe you just have a low credit score. Heck, maybe you did get a loan for your first two or three real estate investments but the bank isn’t interested in loaning you any more money for more (hey, four mortgages starts to look a bit risky to a lot of lenders!)
So what do you do in this situation? Well, most investors give up. They either decide that they’ll have to put in sweat equity and hope for the best (and believe me, that’s not easy if you’re working one or two “quote unquote real jobs” and taking care of a family already) or they figure that real estate is something that is just not accessible for them. They never consider the THIRD OPTION, a CORPORATE CREDIT. We spoke to Credit Card Builders CEO Ari Page about this option at length, and he told us that there are four huge advantages to using BUSINESS CREDIT in real estate that most investors have no idea about. Ari is a business credit specialist who has been working with Credit Card Builders since 2009 to create alternatives to high interest lending for real estate investors and entrepreneurs. “Real estate investors should NEVER use their personal credit,” he explained, and pointed out four major advantages that a business line of credit has over just about any other real estate funding option.
First, he said, business credit is easier to access than just about any other type of credit. If you work with a bank to get a mortgage loan, you could be waiting 60 days, 90 days, or even longer to get approved. That’s a little long for a real estate investor as you well know!
Second, he pointed out, business credit is easier to SPEND. Most people think of a line of credit at a specialty store, like Home Depot or Lowes, when they think of corporate credit. However, Ari said, a true business line can be used in just about any venue for business-related purposes.
Third, you don’t get business credit based on your debt-to-income ratio! That’s huge if you were nodding your head a minute ago when I was talking about getting individual mortgages on your investment properties. They’re not looking at your personal credit AT ALL.
And finally, fourth, the credit is unsecured. Again, in case you didn’t hear me, they’re not looking at your personal credit! So if you have bankruptcies, foreclosures, late payments, just a plain old low or nonexistent credit score, then hey, that’s okay, because (as it SHOULD BE IN REAL ESTATE), it’s NOT ABOUT YOU, it’s about your business. And if your business is sound, then your line of credit is likely to be also.
Now, if the idea of up to $250,000 in cash credit at ZERO INTEREST for your business has got your attention, you’re definitely going to want to hear the entire production and, perhaps even more exciting, Ari and his partner, Mike actually follow up the training session where they tell you HOW TO GET THIS TYPE OF CREDIT with a live QnA session. So don’t let it be YOUR FAULT any longer that you can’t get funding on your deals. Go to www.rei.today/bigcredit (one word BIGCREDIT) right now and reserve your spot. They do these trainings live and, as a result, they’re not always available and spaces are not always open. Don’t delay, go to www.rei.today/bigcredit (one word) right now. Not only can (and should) you access this funding for your own deals and business, but you can actually offer the SAME OPTIONS to your clients and buyers, thereby creating a FANTASTIC, BUILT-IN MARKET for your deals. And, if that wasn’t enough to convince you (yeah, right) then allow me to point out you’ll be getting a huge bonus ($3,500 worth, in fact) just for attending the training (and they line-item that sucker out, it is $3,500 worth no kidding). Head over to www.rei.today/bigcredit right now to reserve your spot, and remember, REI Nation, (as if this didn’t make it clear enough to you)
Your best investment is ALWAYS your own education.
Carole Ellis is the host of Real Estate Investing Today, a popular 9-minute daily podcast focused on educating real estate investors about the important topics that will make their investing SAFER, FASTER, and MORE PROFITABLE. She's also the editor of the Bryan Ellis Investing Letter. She has more than a decade's worth of experience in and reporting on the real estate industry and, additionally, has written dozens of courses on the topic. Carole lives in Kennesaw with her husband, Bryan, and four children. She believes wholeheartedly that your best investment is always your OWN education.