I get this question a lot. Can I get business credit if I am a home business? The answer is yes. Home Based Businesses can receive credit as any other business. It is a little more difficult to get the type of limits that a Business that is operating out of an office. The trick is making sure that your business is set up correctly from the start. Also being in the right industry. For instance, if you are in the operating a real estate business from home the chances are you may not get approved for as much credit. Verses operating a solar company from home. The fact that real estate market crashed and all the fraud that went on hardly any company will lend money/credit without collateral. It’s all about your industry and your file.
Another myth is that if you have a paydex score of 80 you can get funding.Again it is about your file and industry. If you have a paydex score of 80 with an empty file you will not get credit. Meaning a file with an 80 paydex with no taxes,bank account,payment history,assets,or any third-party verifiable information. The days of 3 net thirties and boom 5000.00 credit limit has been over for a while. Anybody promising this is probably scamming or using out dated information.
Now if you have a home base business and would like to learn how to get funding I know a place where you can go. The information is current and up to date. His name is Gboogie and the website is http://gboogie.net/default.aspx . They don’t do for you but there is step by step instructions on how to set up your business and credit file. Whether a home base business,startup,or established business. If you would like a discount on membership click here. It is a lifetime membership and you get all the products free for life.I have been doing business credit for 10 years and the information and tactics he provides are priceless. It used to be free membership until some of the people began abusing the information. But it is still very affordable at $55. Far cry from a $5000.00 boot camp and half the information. But with that said feel free to comment on this blog and I will answer any questions you may have. Until the next time fellow business men and women!
Posts Tagged ‘contract flipping’
No Money Down Realestate with Gboogie.net
May 4, 2010Everyone has always been fascinated withe the concept of no money down real estate. So called gurus from dave del dotto (from the early 90’s) to carleton sheets, to russ whitney have all had successful creative real estate financing material. The one that always stood out the most was the no money down information. The concept is definitely a valid one and is practiced everyday even by millionaires. It actually applies to more than just real estate. In this short blog type format, i will attempt to explain it. The best way to describe “no money down” from the correct perspective would be to consider your self as a broker. You have no money to invest in, or purchase the property yourself. Your job is to bring to parties together and make a finder’s fee. That what contract flipping is. The purchase price of the property never matters. Your job is to simply negotiate the best price and terms(if possible), and to have a ready made list of potential buyers to shop it to. To make sure it is not sold out from under you, you use a contract. The contract will state how long you have to make the deal. It keeps others from being able to purchase the property unless they buy it from you. There are always signs everywhere that say “We buy houses”. It is very easy to put together a buyers list from the local investors in your area. It takes some time and experience to recognize a good deal, but sometimes you run across properties that are obviously a good deal. If shopped to the right investor, it will give you your start towards stock piling cash to go it alone without investors. In this economy, the best deals are found in rural areas outside your city limits. As the population grows along with the economy, Counties begin to annex these properties(making them apart of the city to supply the city with more tax dollars) Increasing the value. There are many different way to construct a no money down deal. Just always remember, its about creating a win win situation for all. I will leave it on this note for those that still dont understand. If you were selling a $100,000 luxury automobile and i cam up to you and said…”I will give you $100k in 3 days as long as you take this $100 for now and sign this contract saying that i have exclusive sale rights for those 3 days….I will even give you an out clause that says i will give up my right if you find a buyer and all i want is $200 for my troubles….? What would you do??