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Author Topic: Stated Business Line Of Credit For Real Estate  (Read 14824 times)

Offline TonyDiCorpo

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Re:Stated Business Line Of Credit For Real Estate
« Reply #15 on: December 07, 2006, 10:26:29 am »
i looked at thier website before.  it is impressive until your end results.  no place does it mention getting a biz LOC or MAJOR CC without a PG, it's all vendor accounts, store cards, etc.  here is a snapshot of what they post on the site:

$8,000 Wholesale Goods Credit Line


$7,500 Electronics Store Credit Card


$1,000 Office Supply Credit Card


$50,000 Hardware Store Credit Line


$25,000 Computer Line of Credit


$1,000 Corporate Gas Card


$65,000 Equipment Lease


GM Trucks Vehicle Lease


Not one of those is a LOC for cash, or major cc's.  sure they may be practical but I can get you those and charge you half of what this company is charging you.  how about that?  ;D

looking further, after they bait you, it states on another page:

An example of what many of these businesses have been able to achieve individually and in most cases without a personal credit check or guarantee by working with Business Credit Servicesí Business Credit Builder Program are:

Computer Line of Credit of $35,000
Equipment Lease of $15,000
Hardware Store Credit Line of $25,000
Electronics Store Credit Card of $7,500
Department Store Credit Card of $5,000
Office Supply Credit Card of $7,000
Corporate Gas Card of $5,000
Printing Company Credit Line of $5,000
Cadillac STS Lease
Unsecured Working Capital Loan of $50,000
Hummer 3 Lease
GM Truck Lease
Business Lines of Credit totaling $400,000


note what i put in bold type just above:  and in most cases without a personal credit check or guarantee....

ummm, most cases?  most means not with a major cc or LOC.  again, unless you are a fortune 500 co, you won't get major biz cc's or LOC's without a PG, good credit and per credit check and there is nothing that ths company can do for you that is going to speed it along or make it better.  it just can't happen.   I know for myself, I do not need any net 30 accounts for printing and dog grooming, or 3 $5k gas cards.

seriously, why wait 6 months for a program that someone is gonna do when you can get it done for no cost, by yourself and in less than 60 days?  
Peace Ya'll!
Tony

Offline enaohwo1

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Re:Stated Business Line Of Credit For Real Estate
« Reply #16 on: December 07, 2006, 10:38:19 am »
So you are telling me you have a better program, ok now spill it out. Take the altar and share with us what you can do for us and what are your rates.

Offline TonyDiCorpo

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Re:Stated Business Line Of Credit For Real Estate
« Reply #17 on: December 07, 2006, 11:21:12 am »
now i am sure u know i am not pushing any program.  I am a frequent poster/reader at creditboards.com.  i have been for about 1.5 years.  b4 that i was on creditnet.com for about 3 yrs.   that is my program.  i work it.  it's free.  

HOWEVER, i spoke at length with a gal named Robin at Business Credit Services, the site you are talking about.  for $1795 they take u thru 6 mos of this and that.  i still do not beleive that they can get you major cc's and LOC's with no PG or per credit check, for a small biz.  

apparently it's all about compliance.  they make sure you co. is in compliance with local, state and fed rules for corps, biz licenses, this that and everything else and apparently when all this is lined up, and the stars are just right your profile will tell them what banks they can send you to that will give you the HUGE capital that you want.  you have to go thru the steps first, by getting the net 30 accounts, the store cards, the gas cards, use them, pay them, get credit limit increases, maintain biz credit scores....just to name a few.  these points are all lined out for free at creditboards.  i am not the only one that has referred folks on this board there.  

if you want to try this Business Cred Svcs, that is of course your decision.  If you can do what they say exactly as they say and be able to provide the proof, i will recant what i have been saying.  i will beleive it when i see it.  

there were lots of holes in what this gal Robin was telling me.  direct questions I asked her about LOC's and major CC's with no PG were skimmed around with examples and questions back to me.  she is a great sales person, that is it.

this company works a lot with investors and angel investors.  that is where the no PG or credit check comes in for working capital lines.  it's non-traditional.  however, you think these investors are going to loan you money without collateral or gaurantee that they will get it back?  of course not.  you usually have to give them part ownership in your company, plus the interest rate is normally not favorable.  you can find investors on your own if that is the route u want to go.

Robin also told me that regardless of the bank they work with, you will have to give a PG on a loan, becuz 'it's a bank', as she said.  it just won't show up on your per credit.  well duh, if you ask this of the bank before you apply, u can determine if you want that bank!  i ask that all the time and make my decisions accordingly before i apply.  it is, according to her, a NO DOC loan, but that does not mean they are not going to pull a per credit report.

as i said, if you want to try it, go for it.  i really do want to know if they can really do this!  i just don't want to pay $1700 to do it.
Peace Ya'll!
Tony

Offline wealthrx

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Re:Stated Business Line Of Credit For Real Estate
« Reply #18 on: December 07, 2006, 08:43:42 pm »
Like I mentioned in my previous post regarding BCS, they are good sales people, they tell you
everything that you want to hear. That is until they get paid and you can't get in touch with anyone...
Should I say they make it difficult to talk to the right person, Their focus is on SELLING you their
system, not customer service.

It took a couple of months just for them to complete my client's LLC filing!!! He called called called,
sent e-mails with little to no response from the people he needed to speak to. After @ 4 months they
finally Started setting up his credit lines - but he had to use PG and own credit to get even small lines
(under 3k). To some people a 2 k gas card or office supply account is a big deal, but when you are doing several rehabs at a time as we do, it seems to be a big waste of time & money for what they actually provide. Most of what they do can be completed by you without spending @2 g's and wasting several precious months to get it done. Try putting that 2 grand into a major secured credit card and see what
your resullts will be, very comparable I would guess!

I just don't like dealing with people that Promise everything and once you buy they do not deliver results
as promised. I the end my client Did get several small store lines (h.d, mnrds, ctgo, ofc dpt, etc) but
nothign that he could not have gotten on his own.. My advice save your money - take the time to learn
and do it yourself..

 

Offline enaohwo1

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Re:Stated Business Line Of Credit For Real Estate
« Reply #19 on: December 07, 2006, 09:11:23 pm »
Thanks for all your comments

Offline lennyndc

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Re:Stated Business Line Of Credit For Real Estate
« Reply #20 on: December 08, 2006, 05:21:29 pm »
Yes, thanks for the comments. I've been watching this subject with much interest. I was tempted to pay the money to get the services of Business Credit, Inc also.

Any opinions on Thomas Kish's program to establish Business Credit? I think he charges $297.

 ???

Offline TonyDiCorpo

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Re:Stated Business Line Of Credit For Real Estate
« Reply #21 on: December 08, 2006, 05:24:32 pm »
I don't think that anyone's program is worth paying to get corp credit.  I say that because I built my own corp credit.  You can do it yourself, you just have to do some research and studying up on it.
Peace Ya'll!
Tony

Offline enaohwo1

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Re:Stated Business Line Of Credit For Real Estate
« Reply #22 on: December 10, 2006, 09:42:16 pm »
I guess most of us are sold on doing it ourselves now, so can you take the time to online the things you did and the site you got can your information from, so that we can follow in your footsteps. Basically if you
walk us through your steps from the very beginning that will be nice.

I don't think that anyone's program is worth paying to get corp credit.  I say that because I built my own corp credit.  You can do it yourself, you just have to do some research and studying up on it.

Offline TonyDiCorpo

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Re:Stated Business Line Of Credit For Real Estate
« Reply #23 on: December 11, 2006, 08:43:42 am »
i will type it again...........WWW.CREDITBOARDS.COM

go there, read up and building business credit.  it's all laid out there on that site.  sign up, post questions when you are unsure of things.  the folks there are very helpful.  just don't ask anyone to tell you how to do it.  you have to do the research.  make all the steps.  i will answer questions if you get stuck.

there are pinned threads on creditboards that are outlines.  if you read them and take notes. you will be on your way.  trust me.
Peace Ya'll!
Tony

Offline enaohwo1

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Re:Stated Business Line Of Credit For Real Estate
« Reply #24 on: December 11, 2006, 09:05:06 am »
Nice one, can you leave us you direct email address so that those of us that decide to go on the website and do the research ourself can periodically send you emails is we get stuck on anything. Also can you recommend some of the good starter articles they have on there?

Offline TonyDiCorpo

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Re:Stated Business Line Of Credit For Real Estate
« Reply #25 on: December 11, 2006, 05:50:24 pm »
unfortunately i cannot do one on one consulting, sorry.  post your questions here or send me a private msg if you need to ask a question.

HOWEVER, the info on the other forum is fairly str8 fwd u should not have much problem.

i am not aware of any articles on that site.  the info is all in forum form, like this one.  they are all threaded.
Peace Ya'll!
Tony

Offline christopher w

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Re:Stated Business Line Of Credit For Real Estate
« Reply #26 on: December 11, 2006, 10:35:59 pm »
Tony,

I think the poster is being facitious in his final postings. I however thank you very much for all your detailed information. Great job.
Christopher W
C-214.923.5781

Offline enaohwo1

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Re:Stated Business Line Of Credit For Real Estate
« Reply #27 on: December 12, 2006, 05:32:59 am »
Who me?

Tony,

I think the poster is being facitious in his final postings. I however thank you very much for all your detailed information. Great job.

Offline kdhastedt

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Re:Stated Business Line Of Credit For Real Estate
« Reply #28 on: December 13, 2006, 07:58:54 am »

His e-mail address is in his profile.   ;)

You are not allowed to post your e-mail addresses in the body of your messages -- it violates the Forum rules...

Thanx,

Keith
I have CDO...it's like OCD but in alphabetical order - the way it should be!

Offline enaohwo1

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Re:Stated Business Line Of Credit For Real Estate
« Reply #29 on: December 13, 2006, 11:40:22 pm »
So from this website can one learn how to remove negetive statements by creditors and inquiries from ones personal credit report? And have you have you tried to do it yourself? Please share your experience.


unfortunately i cannot do one on one consulting, sorry.  post your questions here or send me a private msg if you need to ask a question.

HOWEVER, the info on the other forum is fairly str8 fwd u should not have much problem.

i am not aware of any articles on that site.  the info is all in forum form, like this one.  they are all threaded.

 




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