Jeff, I know cash advances on CC can be pricey, but there isn much rehab that can be handled with a Visa. Yeah, some of the handy man guys only take cash, but there are some ways around that with most guys worth working with.
You need to work to get your business credit Air Max St Grey
When I paid cash for my rental, I rehabbed it with a small LOC and a personal Visa. The balance was just too small to get any other kind of financing. And I like that the credit was not tied to the house.
There is a gentleman named Russ Lebrasc who is selling a 10 module course for about $300.00 that is supposed to teach you how to get business financing to flip houses. The short of the long, from what I gather from his web video ad, is that it is relatively easy getting up to $50,000 in unsecured credit for business financing. He even goes so far as to show you the link right there on Capital One's website indicating credit card limits up to this amount granted and requiring no documentation. I Air Max Custom Design
Edited Feb 27 2012, 07:30 by Moderator
Business Credit for Flipping Business
and not an investor.
went to the Capital One's website and sure enough, there it is. This is not exclusive to Capital One, but that is the bank he uses as an example.
Basically, I am asking if anyone here on BP is willing to share for free what can be bought for $300.00. The link to the video is below. I apologize in advance if I can't make it clickable:I guess the website is censored. It is from [REMOVED]. If I am not supposed to share Air Max Yellow Lobster this info on the forum, I apologize in adcance.
So, my question is, have any of you guys with LLC's had success in getting small business financing rather than investor loans for your flipping business. If you did, how did you present your business to the bank? Likewise, if you tried and were denied, what was the bank's reason for denial?
The apparent challenge to getting business credit rather than investor credit is to present yourself as a small business and not as an investor. The insinuation of the web ad is that he will teach you the right way to present your flipping business to the bank so that they will see you as a business Black Nike Air Max Tumblr
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scores (Paydex, Experian, etc.) up to snuff and show some nice cash flow, but unsecured lines aren that hard to get below $50k. The trouble is that $50k doesn go very far in real estate!I know interest rates could be fairly high, but I am trying to find alternatives to hard money. If I put in 20K in cash and have 50K to use in credit, I just might have enough money to do a little flip. So, this might be just what I need. Thanks for the leads Bryan.
Unsecured lines in excess of $50k are much harder to get. You can get $50k in unsecured funds with a personal guarantee and good financials.
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