How to Get Banks to Call You to Give You Unsecured Cash!
Right now I'm at a trade show in Las Vegas. (See pic below where Ronnie is manning the booth.) While I was sitting there, I got a call from my bank...wanting to give me more money.
More money that I don't want or need. Nice problem to have, isn't it?
You can't access unsecured cash without business credit. I don't care if you have the best and most perfect personal credit in history.
If you want cash, they'll ask you for collateral if you want to borrow under your personal credit. You need business credit if you want cash for down payments on real estate or to invest in building a business.
Many of my students ask me, "Monica...where do I start?"
Answer: Getting involved in any type of real estate investing and/or building a new business that will require an influx of cash to get off the ground on a "serious level" requires cash. Period.
You Can Build Stellar Business Credit in Just a Few Months!
It takes money to make big money. You need money for real estate (down payment and earnest money cash). You need money to build a serious multi-million-dollar business. You need money to make big money.
Of course, there are ways to make money on a shoestring budget but you won't be investing in real estate in today's market unless you have some cash for even the basic due diligence requirements such as building/property inspections and appraisals.
One of the things that helped grow our business (Brie Labs) and allows us to do trade shows and other business-building strategies is through the use of our built business credit. I would never be able to get this business to the multi-million-dollar threshold unless I had the credit needed to be able to pull this off.
Click here for more information!
So...While I Was Sitting in the Trade Show Booth...
Not but 30 minutes ago, I got a call from US Bank (and no, it wasn't Brittany but a "higher up" guy") wanting to give me more money.
Mind you, just last week I got a letter from Wells Fargo, wanting to give me $100,000. My business was already pre-approved for that amount. I threw the letter away.
It's nice to be in a position where I can "throw away" money like that but I didn't get into this position by accident. I worked for it, namely by fixing/rebuilding my personal credit while meticulously building stellar business credit for 2 companies.
And I didn't get rich in real estate by using my own money. I got rich in real estate by using OPM (Other People's Money). And you can't attach yourself to OPM without doing some groundwork (building the credit) first.
See you at the top!