Shelf Corps to finance real estate deals

Hello all, purchased a 20 year old shelf corp with established tradelines and business credit from trillliant for 7,500.00 about a month ago.

Question: I just received the first round of financing for 100k after 30 days.

Does anyone know how long it takes to get the second or third round of financing for up to a million?

And lastly is the company i purchased fro trustworthy enough to carry the project through. The company i purchased from is called trilliant.

Funny, your first posting and it seems your pushing a shelf corp sale through a company. SPAM!!!

but hey if it is not, tell us, Was it NPG $$$$??? What is the financing source??? 100K in 30 days is great… Is it a straight cash line or tied to a fixed credit line like AMEX??

What was used for financials to get the line? How strong is the corp woith D&B? Tradelines, Paydex?? How many employees listed in company and annual sales/profit?

HEY
was wondering where you found this company you are doing business with

Shelf Corps are a scam. Go to www.creditboards.com and do a search on the subject. You will find all you need to know.

I did extensive research on shelf corps and lines of credit for the same reasons you alledged for your purchase. Over a two year period this is what I learned and concluded about shelf corps:

  1. Most of the vendors are theifs,
  2. the shelf corps were created with false/made up information to obtain their paydex scores,
  3. if a person were to use these made up stats on the shelf corp to obtain a loan or mortgage, I believe they are commiting mortgage fraud.

As you know, mortgage fraud is serious and if you take the position that it is only true if you get caught and most do not, then you are only fooling yourself! There is way too much money available, like 7 trillion, just in IRAs that can fund your deals without such nonsense.

One humble man’s opinion from outside the bars of a jailhouse and planning to stay that way!

Rob
R.E. Investor/Mentor

Rob,

You are right on the money. Regardless of the paydex score no bank is going to loan money to a real estate investor (corporation or not) without multiple years of tax returns showing strong income. With that being said it is possible to build up business credit in a legal albeit slow way that a real estate investor can make use of. Companies like Staples will allow you to set up business accounts that can be used for marketing materials, and Home Depot for repair materials during a rehab. Hope this helps.

Unless the corporation in question is currently publicly traded on a major exchange the banks will still require a Personal Guarantor and that PG will still have to qualify. WITHOUT EXCEPTION! With that in mind does it still make sense to buy a “shelf corp” with all the liabilities discussed above?