00;00;00;00 - 00;00;30;14
Unknown
Welcome back to the Seven Figure Flipping Podcast. Today's episode is a big one, especially if you've ever felt that cash crunch on a flip or a deal. We're diving into how you can use business credit to keep your projects moving and your personal credit protected. You're going to hear from Ari Paige, the CEO of Fund and Grow and one of the leading experts in business credit and funding strategies for real estate investors.
00;00;30;15 - 00;00;56;26
Unknown
This conversation breaks down how to get access to 0% business credit, how to qualify, and the strategies that help you scale without getting stuck on market shifts. So grab a notebook. There's a lot of gold in here. Let's get into it.
00;00;56;29 - 00;01;30;03
Unknown
We have a number of members who have just really gotten into business credit, and it was a big part of really getting them going. If I could just share this real quick, Ari. And this probably resonates with a lot of the people that that you serve. But, so G ran a phenomenal flipper fix and flip doing all kinds of deals rolling through, and then has an experience that he openly talks about and just has shared with a bunch of other members, just trying to help them.
00;01;30;05 - 00;01;54;25
Unknown
But ran into a cash crunch market shifted, had a couple deals that he was going to lose money on, trying to just get out of them because he saw what happened in the market. But yeah, as you all know, the carrying costs start adding up and, it's typically always better to get out of those homes quickly and then rebuy at the new market rates and just win again.
00;01;54;28 - 00;02;18;19
Unknown
But he, he just ran into a cash crunch, like I said, lost money on some deals. Was kind of like, oh my gosh, what do I do? And just really got into some of this business credit. It really it carried him through. It allowed him to be able to his credit, his credit and dropped. Yeah. He was able to get zero or really low business interest credit.
00;02;18;21 - 00;02;38;26
Unknown
And it was, it was able to help them relaunch and really carry him through that time where he could just buy right again. Three months later, he's exiting properties, making money, and everything was good. It was just this massive. When you look through history, you go on biggerpockets, you go in all these other places and you see people who really kind of struggle.
00;02;38;26 - 00;03;00;13
Unknown
Oftentimes it's with the cash crunch. And when they have when you have funding something that can just carry you through that, especially when you're strong in your fundamentals. We can't always control market conditions, but when we're that strong in our fundamentals to where we know we just need to buy right, and we're going to win. Like things happen on like one deal.
00;03;00;15 - 00;03;17;07
Unknown
But then with the funding and with the credit just carries the strength. So it's happened with a couple of our members to the point where we had a number of conversations of, man, we need this for all of our members. You know, everybody should have this. And so kind of fast forward, Tracy and I were talking about this.
00;03;17;07 - 00;03;40;09
Unknown
Tracy connected. Ari, with your team. Funding grows you know from an is an industry leader is probably the industry leader. And maybe you'll you'll kind of go into that. But as we started doing our homework, looking around to say who is going to have a strong stewardship and care, you know, for our members, make the process smooth, clear, easy.
00;03;40;11 - 00;03;56;26
Unknown
All that it was we are led to you and then I've had some really good experiences. So that's what led to this call. Ari, I know you have a presentation, but I've got a lot of questions, too. So we're going to make it, like, super applicable so everybody can come out of this call with a game plan.
00;03;56;28 - 00;04;23;29
Unknown
And for all of you on on in the chat, just drop your questions. Just throw them in there. I'll work. In. We'll fit it. But with that, Tracy, do you want to do an intro? Yeah. Thanks, Dave. All right, guys, I am super pumped to be able to introduce to Ari Page. So Ari is the CEO of Fund and Grow, and he's been a leading voice in business funding for almost 20 years.
00;04;24;01 - 00;04;52;26
Unknown
So he has significant expertise in building business credit and financial strategies. And so we're just super fortunate to be able to have him here with us today to break this all down for us and help us understand how we can be leveraging business credit, as real estate investors to do things like Dave was talking about to cover a cash crunch or even things like getting a head on some marketing or hiring a VA, or there's so many different ways that it can apply to kind of help you get the ball rolling.
00;04;53;02 - 00;05;09;27
Unknown
So, Ari, with that, I'm going to hand it over to you. We are super pumped to have you here. So the floor is yours. Well thank you. Thank you Tracy. Thank you Dave. Appreciate you guys. And also, looking forward to just doing this presentation and talking to everyone. So I'm going to go ahead and, share my screen.
00;05;10;01 - 00;05;33;25
Unknown
Are you guys able to see that? Perfect. All right, so like Dave mentioned, getting access to funding. Funding that's not tied to a specific deal. That's what funding growth is all about, getting you access to easy funding that you can use to grow. But I do have a question for everyone. I'd like to know how many people on this call right now.
00;05;33;27 - 00;05;46;09
Unknown
Have access to funding that they can use in between any deal. If you if you already have easy access to funding, just raise your hand. And I'm pretty sure it's pretty easy. And zoom to raise your hand. Is that right?
00;05;46;11 - 00;06;08;20
Unknown
So let's see. Yeah. Or just throw in the chat right there in the chat. Yeah. Whatever. Yeah. Excellent. So we've been doing this for quite some time. I started doing this in around 2007. So Doctor Sherry saying hers is all tied to deals. So yeah, I started doing this around 2007, and that was right before the great crash of 2008.
00;06;08;22 - 00;06;36;18
Unknown
So we have been doing this for quite some time, and we generated over $2 billion in funding. Oh, so here we go. Brandon says he got 25,000 in 0 percent recently. Very cool. So a lot of people are saying that they're all tied to the deals. God's got some could use more. David's saying so. Awesome. Well, then you guys are going to really enjoy this presentation, because you really can't start scaling until you have access to a variety of types of funds.
00;06;36;19 - 00;07;03;22
Unknown
We're all about using mortgages, hard money DSR loans. But also using the most inexpensive access to funding that you can get, getting the 0% introductory credit cards that could be 0% for anywhere from six months up to 22 months. And it allows us to move forward on a variety of different types of spending that are not tied to specific assets, such as any type of real estate.
00;07;03;22 - 00;07;19;19
Unknown
You can literally use credit cards to fund an escrow account. I'm going to show you guys exactly how to do that and what that services, how you can take a credit card, swipe it, fund an escrow account, or pay any vendor that you need to. You can even pay payroll. Let's say you're flipping a house and you're and you're having it rehabbed.
00;07;19;22 - 00;07;39;03
Unknown
You can literally pay the payroll right off of the credit cards. And just to give everyone a sense of what we're talking about. I'm going to show you, exactly. This is a client that's just gone through our program. And so you can see that, the date up top left says 1015. What you're seeing here is the funding that we applied for for them.
00;07;39;07 - 00;07;59;05
Unknown
And we applied in three rounds of funding. So in those three rounds of funding, you can see here's the first round right here, 1015 or that's the last round. Sorry. Then there was this round here. And then this was the very first round. So three different rounds of credit card stacking. Each one of these is going after a variety of different credit cards.
00;07;59;10 - 00;08;21;06
Unknown
And what I want you guys to look at is look at this initial column here where there's lots of zeros and even smaller amounts. And then look at the highlights here. So like for example, this Chase business card went from a decline to a 25,000. This is what Funding Grow does. We show you how to get access to large amounts of funding like this client here.
00;08;21;07 - 00;08;48;29
Unknown
We've got $351,000 0% credit, through our program in three rounds of funding. And so you can see, like this card went from 4000 to 43,000. This card went from decline to 15,000 from decline. Look at this one. 152,000 on one credit card. Who wants 152,000 on one credit card? This is this is how the the the card stacking process works.
00;08;49;01 - 00;09;15;14
Unknown
And, we do more than card stacking. We're, we're a full, consulting service that shows you exactly how to get these higher limits. So let's go ahead and jump into it, Ari, just real quick. I noticed Chase was on there a couple times. Would those be just different cards? But from the family? Exactly. Okay, so I'm going to get into exactly how credit card stacking works.
00;09;15;14 - 00;09;34;11
Unknown
But I'm sure a lot of people on this call have credit cards. If we were to ask to raise your hand, I'm sure that we'd see a lot of hands go up, because a lot of people are already saying that they're using some form of business credit, or credit cards. And so let me explain exactly how easy it is to card stack.
00;09;34;18 - 00;09;53;19
Unknown
Now the card stacking is only part of it. But the other part is how to get the larger, higher limits. But let's say that you have a card with Chase, a $10,000 card with Chase. And you, you, you've had it for about a year. So the 0% is expiring. Let's just, for the sake of the call and say the card is a $20,000 card.
00;09;53;22 - 00;10;10;12
Unknown
So you've had a $20,000 card. The 0% is expiring. You've had a set up for about a year, but you use that card to in your business. So you've spent some money on that card. This is how easy the card stacking processes. We would go back to the same bank, apply for the same product. Many banks allow you to apply for the exact same product.
00;10;10;12 - 00;10;28;26
Unknown
If you can't apply for the exact same product because the bank doesn't allow it, then you apply for a similar one from the same bank. Then, if they only approve us, let's say for 10,000 or 15,000 because the client already has a $20,000 card, right? The one they had set up for about a year, but they now approve us for a new $10,000 card.
00;10;28;29 - 00;10;51;17
Unknown
Now, you might think, well, the 20,000, the $10,000 card is not enough to move the whole balance from the 20,000 over, and that's fine. That's not how card stacking works. What we do is once we have that $10,000 approval, we merge the two accounts together. So the old $20,000 account with the 0% is expiring on, and the new $10,000 account that has a 0% on it.
00;10;51;20 - 00;11;13;03
Unknown
We merge it together. Now you have one $30,000 account. That $30,000 account has a 0% over the entire account. And we merge the new card into the older card so that we could retain the seasoning, we could retain the longevity or how long that account has been open. That way we're not closing brand new or closing old accounts.
00;11;13;09 - 00;11;37;21
Unknown
And hurting your seasoning. And so once you've done that, now you're back to having one card from that institution. Many of the institutions like to have two or 3 or 4, but that way you can keep consolidating them, have higher limits, and get access to more and more 0%. There's no other way of converting an existing credit card to a 0% card without doing this merge process.
00;11;37;23 - 00;11;56;24
Unknown
So guys, let me know if that makes if that if that made sense to you, come to the questions area to the comments area and let me know if that made sense. So these are all 0% cards. And for anybody that's, questioning it. Yeah. It's real. You can just go and Google 0% business credit cards and you can see that they all all the major banks have this.
00;11;56;25 - 00;12;21;29
Unknown
In fact, lots of small banks that you've never even heard of, like Eland and other things, evergreen and other thing. There's a variety of banks that have it and that had the 0% cards. And even if you're only in a geographical footprint that allows it, that, like for example, chase lens in all 50 states, but there are some banks that only allow in certain footprints, and people don't know that they could get a 0% card from that bank, for example.
00;12;22;02 - 00;12;44;09
Unknown
So Maddox is asking, is there a charge with, with you on every transaction you're connected to? No. Like when you go to Walmart with your credit card, they're not charging you. You just you just spend with the credit card. So now this type of credit card, there's a credit card in general is unsecured. Unsecured means it's not secured, which means it's safe.
00;12;44;09 - 00;13;06;22
Unknown
It's safe funding. They're not securing it off of the home or off of work vehicle for example. And so if the worst were to happen and you're unable to make the payments because it's unsecured, it means they're not going to take any of your assets. Let's say that you purchased real estate or you purchased company vehicles. If you don't make the payments, which God forbid, no one's.
00;13;06;24 - 00;13;25;18
Unknown
I'm not saying that that would ever happen. Hopefully that never happens for anybody. But we need to have the safest funding possible. We can't have something where they take your company. Vehicles are going to take your your cash flowing assets because you're unable to make the payment. So now it's really important to understand that business credit cards do not report to your personal credit.
00;13;25;21 - 00;13;48;10
Unknown
So a business credit card we can actually use without pulling your credit score down. And I'm going to get more into what those ratios are, why your credit score would be pulled down. When you're using a personal credit card. It's paramount that we use business credit cards because a true business credit card does not report to our personal credit.
00;13;48;15 - 00;14;11;01
Unknown
That gives us a true separation. Now, although there are no tax returns are required. This is the is a stated income program. So we have to be honest with the bank. We have to tell them what your actual income is. And and but we're not having to cough up all kinds of documents. Hey, I was real quick.
00;14;11;01 - 00;14;34;29
Unknown
That's good. Because in real estate, like we all know, we we all show like we didn't make any money because we have depreciation and we have all these kind of write offs to offset our gains. Are you there's a few other questions coming in there. A lot of them have to do with qualifications. I know I've got some questions on like, timing to after the first year amounts like all that, but should we wait on qualification?
00;14;35;00 - 00;14;59;09
Unknown
We could wait a little bit on that. I mean, I got the questions pulled out, but some of them will make sense to answer for long. But then we're we gotta have Q&A at the annual. Definitely get to. Yeah, yeah, yeah. Okay. I love answering these questions. Now, the cash equivalent means what happens if we get you $100,000 of credit cards and you're trying to spend that at a vendor that does not accept credit cards?
00;14;59;11 - 00;15;20;10
Unknown
Well, we're going to show you how you can use payment services to use a credit card and still purchase at the 0% rate, because we don't want to do a cash advance. And then you can pay any vendor that you want to. All right, guys. So we're going to get into the actual meat and bones of what your personal credit needs to look like in order to qualify for this.
00;15;20;12 - 00;15;41;26
Unknown
And although you have to have good personal credit, understand that these cards, you're going to report to the eon number or the tax ID number of your business. They are not going to report to your personal credit report. So they're these types of cards. You do not require any collateral or assets. That's that was that word unsecured. It means it's not secured off anything.
00;15;41;28 - 00;16;11;05
Unknown
But it's important to understand all these different ratios. For example, like your amount of debt at 30% if you have a credit card and and a personal credit card. And if you start running that credit card above 30%. So just to break it down to numbers, if you have a $10,000 card, if you put more than $3,000 on a $10,000 card, you're over 30% of the credit limit to the balance on that card.
00;16;11;07 - 00;16;42;07
Unknown
So whenever you go over that 30% ratio, your personal score start coming down. Now, if we want to do this card stacking process and get you a lot of business credit, we have to keep your personal scores high. So it's really important that you are not maxing out your personal credit cards. And there's even things that you can do in terms of merging cards on your personal credit report, like if you have multiple cards from the same bank, if you bank with Chase, for example, they might offer you multiple cards.
00;16;42;13 - 00;17;09;05
Unknown
Well, you can call Chase and merge them all together into one card. That way you have a higher limit and you merge into the card that was open the longest. So you retain the account with the longest seasoning. And these are all very important, things to do because otherwise if your ratios are tweaked in the wrong way, you're going to get declined across the board and wonder, how are these people getting 30,000, 50,000, 150,000 on one card?
00;17;09;07 - 00;17;26;17
Unknown
Well, it's because their credit report has been in a good standing, and it's been in that standing for a long time on the credit report, as they look in the little, there's little fields that actually show them the past history of the amount of debt that you had or your payments or the length of credit history, all these things.
00;17;26;17 - 00;17;44;10
Unknown
It's it's recorded and it's going to either help you or it's going to hurt you. So what we do is we help you fix those types of things before ever taking you to the bank. We want to address any of those concerns because we don't want to take you to the bank with a, you know, like walking uphill with the broken leg.
00;17;44;10 - 00;18;11;06
Unknown
We need to fix that first, because if we apply at the bank and you and we basically and you have negatives or you have problems on your credit report, we're basically establishing we're basically telling the banks that you have those problems. So we don't want to do that. We want to make sure that those kind of issues are fixed first prior to doing the applications, because they're going to keep that on file anywhere from 6 to 8 months to a year.
00;18;11;08 - 00;18;35;10
Unknown
So it's important that any of those ratios or negatives are cleaned up ahead of time prior to applications. So now these ten things you might want to take a picture or a screenshot of this. These ten items are very important. We already went over your average credit age. You want to keep the credit of the existing accounts. You don't want to close, old accounts because then you're going to lose your seasoning.
00;18;35;12 - 00;19;02;03
Unknown
Now, I'm pretty sure everyone on the call probably knows what an inquiry is. And inquiry is when they when when a bank or a place that extends credit like a mortgage company looks at your credit, any, any company that can actually extend credit to you will will cause a hard inquiry. Now, when funding grow, when we look at your credit, we can pull your credit as a soft inquiry, meaning that it will not leave a ding on your credit report.
00;19;02;10 - 00;19;22;28
Unknown
But hard inquiries are important to to make sure that you don't have too many. Everyone knows you go to an auto dealer and apply for a credit card, or apply for an auto loan, and they run you through like ten different places. And then you have all those hard inquiries, just as an example. So and there is ways that you can get some credit inquiries deleted.
00;19;23;00 - 00;19;47;19
Unknown
But you can't get all credit inquiries deleted, especially if it turned into an account. Because if you delete an inquiry or if you. I'm sorry, not delete, if you dispute an inquiry that converted into an account, they'll close the account. They'll say, oh, if this inquiry was wrong, then account. The account must have been wrong too. So you don't want to have too, too many recently opened accounts.
00;19;47;22 - 00;20;04;05
Unknown
That's that's really important because then it looks like you're shopping around too much. So that's why we want to do these in strategic batches. If you just apply and then wait a few weeks or a few days and apply for another card, and then wait a little bit and apply for another card, it's, you know, you're kind of stumbling along.
00;20;04;12 - 00;20;24;07
Unknown
We we apply for all five cards in one round of funding in the exact same moment using our proprietary software. It shoots out the applications and we're able to apply for the client very rapidly, where one bank isn't seeing what all the other banks are seeing in terms of which credit report, which credit report is being pulled.
00;20;24;10 - 00;20;49;11
Unknown
So, it's really important that you don't have credit cards or any type of, of accounts that have balances that have that, that, that are not being paid down or that are just totally maxed out. That's really, really important because they're going to start dropping your credit limit once you start making payments. If you have a credit personal credit card and you keep a high balance on it for a long period of time, and then you make a payment on it, they're liable to cut your credit limits.
00;20;49;16 - 00;21;09;14
Unknown
So that's why it's important that you utilize business credit cards. You don't max out your personal credit cards for long periods of time. It's okay to use it and pay it off, but you don't want to max it out for long periods of time. You want to be using business credit cards, and the more that you use the business credit cards, the more that they will give you access to more credit.
00;21;09;17 - 00;21;37;25
Unknown
So. So the limits in comparison to credit being used. Do you see this? If you're not using the credit, they're not going to give it. They're not going to give you more credit. You have to actually be using the credit. So this is really important because we'll do a batch for a client and get 100,000 on their first batch, and then on the second batch they might only get 50,000 because they didn't utilize the credit cards the right way the first time, meaning they didn't actually use the cards.
00;21;37;27 - 00;21;54;08
Unknown
So we help clients to show them what type of utilization needs to happen. Of course, you're not going to spend on things that you're not that you're not using, but maybe in that case, we would have just wait to do the next round until the client's actually needed. Like, we can put our program on pause where it doesn't cost anything.
00;21;54;11 - 00;22;13;09
Unknown
And then that way the client can actually use the cards first, then come back for the rounds for another round of funding. So of course, obviously your payment history very important derogatory is on your credit report are going to really kill you. So you don't want to have any derogatory. If you do have derogatory, there's a referral we can give you to get those types of items deleted.
00;22;13;09 - 00;22;34;20
Unknown
But funding grow is not a credit repair company. We're not doing any type of credit repair. We're taking people with good credit and helping them have exemplary credit, helping them have have great credit based off of changing little ratios, helping merge accounts together, and a variety of other things. So now existing lender relationships means we're going to be applying for you.
00;22;34;22 - 00;22;56;27
Unknown
Like if you already have a personal chase card, we're going to take you for a business chase card because you already have an existing relationship even as little as two years ago, existing relationships did not mean as much as it does today. So what is considered good credit with funding grow? I'd say anything above a 680 is considered to be good credit for funding.
00;22;56;27 - 00;23;13;12
Unknown
Grow. So the cards I use saying the cards I use, I pay off each month, so I don't pay the interest. Is that an appropriate strategy for this? And the answer is yes. The fact that you're paying them off each month shows them that you can use them, and you can pay them off, and you're not using it.
00;23;13;15 - 00;23;38;22
Unknown
If they were to ask why you're doing that, because you're not. You don't want to pay interest, but you are showing utilization. That's important. I've heard of him having been in this game for 20 plus years. Do you have, if for some people whose credits under 680, their personal credit, they want to get going with this, do you have a credit repair company that you recommend that you've just seen works really good over the years?
00;23;38;24 - 00;24;00;03
Unknown
Yes. So Funding grow has a sister company called Tatum Credit help. And I'll go ahead and send out the link to to that company. We actually did it. We did a call. We do have we have an affiliate link with them as well. We can share for everybody. Oh perfect. You know what then. Then delete that and boom.
00;24;00;03 - 00;24;21;02
Unknown
Deleted. All right. Put the affiliate link in there for oh drop it in there. Perfect. You I yeah. And I just wanted to validate to the I mean industry leaders right. And you guys have come together. So that makes a lot of sense. Yeah. It's super important that we work with a credit repair company that actually gets the items deleted so that we can move them forward on funding.
00;24;21;04 - 00;24;41;25
Unknown
And when you pay us for funding, that's what you expect you're going to get. You don't want to hear a song in the dance about credit repair, but the long and short is people that have bad credit. They didn't create that overnight. It took them a while to create it, but yet they want it fixed overnight. Sometimes it takes a bit of time, but once you once it's fixed then you can get access to a lot of funding.
00;24;41;27 - 00;25;03;17
Unknown
So let's go over an actual credit report. I'm going to show you guys the top of the, of this credit report. So what I did as I took a screenshot of a top of the top of a client's credit report to point out a few things that you would never be able to know if you didn't have access to a bank level credit report.
00;25;03;19 - 00;25;19;29
Unknown
A bank level credit report is a lot different than a consumer credit report. Like if you go to Credit Karma or something, that's going to give you a lot of different information than what you're going to get on a bank level credit report, and I'm going to show you one of those. One of those I actually only show you two of those specific things.
00;25;20;06 - 00;25;44;13
Unknown
So let's start here with this account where where we can see the day opening. We put an arrow to it. So on this oh you see an account under the day opened. It's saying that it was opened in November of 2007. But yet if you look over here to what's called the month reviewed column, which is a whole nother column that you as a consumer would not be able to see on your consumer credit report.
00;25;44;16 - 00;26;12;06
Unknown
They have a 25 in there. This 25 indicates that this account has been open for 25 months this month. Reviewed field. This is the field that the banks use to determine your seasoning. Now you might ask why do they have this date open field. That should be the date they used to determine my seasoning. If the account was open in November of 2007, then why don't they just calculate my seasoning based off that?
00;26;12;08 - 00;26;39;09
Unknown
And the truth is, we don't know why. We don't know why they don't. All we can tell you is they have a completely separate field and they will many times manipulate what's in this field because you as a consumer are unable to see what is on your credit report. So if you can't even see what's on your credit report, then they can they can manipulate this field here and they can put it wherever they want.
00;26;39;09 - 00;27;14;05
Unknown
Like for example, this one is saying that it was 25 months, yet this account was opened in 2007. Clearly it should be showing over 99 months of review, but they mess with this field on purpose. Why do they do that? We can't exactly tell you why, but we can tell you that it will bring your scores down. So if someone were to be really on top of their credit and they go onto their consumer credit report to verify what I'm talking about, they're not going to even see this month reviewed field because it only shows up on a bank level credit report.
00;27;14;07 - 00;27;37;04
Unknown
The only thing they're going to see is the date open field. And so from their perspective, they're going to say, look, it looks like it's reporting correctly. But for some reason I have code 30. Do you guys see this code 30 down here I have it highlighted I put this red arrow to it. Code 30 says time since most recent account opening is too short.
00;27;37;07 - 00;28;02;07
Unknown
Does this code is coming up because it's saying that the accounts that are open have been opened for a short period of time. But is that true? Guys, we can see that this client is being screwed on. They're on months reviewed. So what we do is we show clients how to get this updated, how to update the month reviewed field so that this is reporting a 99.
00;28;02;09 - 00;28;20;17
Unknown
We want it to be reporting the correct number in here 99 is the highest by the way guys. So if it's a 99 then it means it's a fully seasoned account. And this account should be showing 99 months of review based on it being opened in 2007. Does this make sense? Guys? Doctor Sherry saying that's messed up and it totally is a totally as.
00;28;20;22 - 00;28;46;02
Unknown
And you would never even be able to tell this if you didn't have access to a bank level credit report. So now let's look at one other thing. So this other code proportion of balance A credit limit is too high on bank revolving or other revolving accounts. So a revolving account is like a credit card. A credit card is different than an installment loan or a mortgage or an auto loan.
00;28;46;04 - 00;29;10;15
Unknown
Because an an auto loan and a and a, mortgage, for example, they're not revolving. You can't use it and then pay it off and then use it again and pay it off. But a revolving account, you can. And so that's what they're talking about here. They're talking about this American Express card. So on this American Express card, what I want to show you is that under the limit field, they have a zero.
00;29;10;17 - 00;29;33;16
Unknown
So I know I got a lot of red on here guys, but are you seeing this this arrow that I'm pointing towards the zero. So in here it says open. Now all of the different credit card companies have their own version of a credit card that does not report a limit in this. Right here they should be reporting limit just like this mortgage up here is reporting the limit of 290,000 under here.
00;29;33;16 - 00;29;53;01
Unknown
They're reporting it as a zero. It can't be a zero because it's open and it's in good standing. And they have an $1,100 balance. You see they have a $1,100 balance on a card with zero. It's impossible. So what we can see is that this is card is called an open card. So, American Express calls, there's the open card, chase calls.
00;29;53;01 - 00;30;18;00
Unknown
There is the no limit card. Bank of America calls. There's the fair and flexible card. All the different banks have a version of a credit card where they do not report the limit to the credit bureau. Why do they do that? Well, what do you think happens on this card where they're showing an $1,100 balance on a zero limit?
00;30;18;03 - 00;30;44;28
Unknown
Look, guys, this code comes up. Proportion of balance. The balance the $1,100 to the limit. Zero. Does it make sense? It's as if this card is $1,200 over limit. All we have to do on this one guys, is call American Express and update this and say, hey, we don't want an open card. We want you to impose a credit limit.
00;30;45;00 - 00;31;09;14
Unknown
Impose a limit. They already have a limit. So they look in your in your, in your account. And they see what the limit is that they've given you inside your account. And then they report it. So that way if this is a $20,000 card, they report a $20,000 limit. That way, a $1,200 balance on a $20,000 card is well under its 30% ratio.
00;31;09;17 - 00;31;29;11
Unknown
Does this make sense? Guys, I don't want to. No, this is not a charge card. A charge card you have to pay off every month. This is a revolving card. You see this as revolving down here. That's different. And no, this is something that we would show you guys how to do. This is something that would never, ever, ever hurt you in the future because you're going to know about it.
00;31;29;11 - 00;31;56;28
Unknown
You're going to know how to fix it. You're going to know what to do about it. If you if you're ever affected by one of these types of situations. So that's two different things that are, you know, that I pulled off this credit report, but suffice it to say, there's a whole plethora of things that our credit analyst will go over and make sure are in an ideal situation, so that we can get you the maximum amount of funding possible.
00;31;57;01 - 00;32;17;07
Unknown
The credit report is a big part of that. But remember, none of this funding reports to the credit report. The personal credit is only about giving you access, getting you access, getting it approved. Once it's approved, it reports to the item number or the tax ID number or whatever. You know, that's the same thing, of your business.
00;32;17;07 - 00;32;39;15
Unknown
So business credit cards do not report on your personal. Now if you go out, if you use a, a, credit card that is not a true business credit card. For example, discover Discover's business credit card reports, right on your personal credit report. Capital one's business credit report card, their business credit card reports on your personal credit report.
00;32;39;22 - 00;33;10;06
Unknown
So are those truly business credit cards? If they report on my personal credit report, the answer is no, because then you're subjected to the 30% ratio. Now, if I'm if I'm using a business credit card, then I have more leeway. I only need to pay down my card to 50 to 60% in between rounds. So if I have a business, if all these business credit cards, I can leave maxed out more than 5,060% and still continue the card stacking process.
00;33;10;09 - 00;33;33;15
Unknown
If it's a personal card, it has to be paid down to 30%. So personal credit cards have to be paid down more. So that's why it's really important that you're using business credit cards so that you can get the maximum amount of credit. So of course, if you have any existing credit cards, it's really easy to call your credit card banks that you already have and just ask them for higher limits.
00;33;33;17 - 00;33;55;20
Unknown
Just ask them, hey, hey, can you give me a higher limit? And you'd be surprised how they will pop up your limit. And that will make it easier when you go and apply for business credit cards from that same place. If you already have higher personal credit card limits. So then of course planning for the inquiries, you're going to have inquiries from from applying for 0% cards.
00;33;55;22 - 00;34;17;09
Unknown
And that's that's okay, because whenever you apply for a mortgage or for an auto loan, we know that we're going to get inquiries because we're using the asset of our credit, but then our scores will go back up to where they were once the account seasons for a month or two. And of course, if anybody needs to remove negative items, just go ahead and use the referral that Tracy sent through.
00;34;17;12 - 00;34;41;29
Unknown
Does asking cause an inquiry for a higher limit? So Robert asks a very good question. Sometimes it will, Robert, and sometimes it won't. Do you do any of you guys have the the credit monitoring inside your portal, like when you log in to, to your bank where they show you your credit score? A lot of times the bank already knows what your credit score is without doing a full credit, pull.
00;34;42;01 - 00;35;04;17
Unknown
But sometimes the bank will do a full credit pull, and you can ask them that when you're on the phone with the underwriter, and we'll explain how that works. You can ask them if they're going to be doing a credit pull or if they're if they can do it based off of your good payment history. I would like a credit limit increase based off my good payment history.
00;35;04;19 - 00;35;26;00
Unknown
Can you please let me know if you plan on pulling the credit report that way? And if you have to, then then do it. But many times they'll do it. And, just base it off of the past payment history that you have with them. But sometimes they will require it. So. All right. Diane had a question about do they look at net income or gross?
00;35;26;00 - 00;35;50;25
Unknown
And I'm just thinking about if they're if they're connecting to our E and are they just looking at cash flow that's coming through there. If it's if taxes aren't even related, tell me just a little bit about the money that they're looking at. So this is this is stated income. And the furthest that clients have ever gone is sometimes to upload a bank statement to show deposits or to show cash flow.
00;35;50;25 - 00;36;19;24
Unknown
And they are go after they're going off of your gross, not off of your net. And it's total household income. So you can include everybody in the household. That's literally what they ask. What is your total household income? Was there any other questions there that I missed? Just scrolling up. All right. What about foreign nationals with the LLC in.
00;36;19;26 - 00;36;47;29
Unknown
So if you have your, Itin then then that can help. If you're a foreign national. But if you, if you, have your Social Security number, if you have your visa and then you have a Social Security number, then that's going to guarantee you. But we have helped clients from Australia, from England, from Canada, and they would need to get an IT and their international tax ID number.
00;36;48;01 - 00;37;11;12
Unknown
So this is the life cycle of applying for cards then doing the, the, the the applications for you doing the negotiations. And this is something that we show you guys exactly how it works. This is something that you have to do. We can't legally talk to the underwriter for you, but we show you exactly what to say, exactly how to do any of the things that we do most of the work for you.
00;37;11;12 - 00;37;29;29
Unknown
There's just a couple of phone calls that we need you to make. Then you are able to use the cards however you want. Of course you have to. Do, you know, follow the payback. We're going to give you our recommendations on how to take care of the cards the best, so as to make it so that the next round and the next round, we get you a lot of funding the third party processors.
00;37;29;29 - 00;37;48;02
Unknown
This is something that I'm about to go over. I'm going to show you guys how to spend even if the business that you're trying to purchase from does not accept credit card, how can you use the credit card to pay by check or pay by wire or pay by ACH? You can do it right off a credit card.
00;37;48;02 - 00;38;14;12
Unknown
You just swipe it. They send ACH a wire or a check, and then of course, the merging of similar accounts and then doing the whole process over again. So our goal is to get you the maximum amount of funding possible. All right. So and then Ari, just real quick if I could. So when you talk about the maximum amount of funding possible, one of the things that I've seen just starting to look into this industry, and there's so many different companies out there that you've never heard of that just pop up, right?
00;38;14;15 - 00;38;39;02
Unknown
Like I get text messages that say you're pre-approved for $100,000. And so, like, I have no idea what this company is, 0%. At the end of that one year, you talked about 12 month cards. There's also 24 month cards, and then there's ways to merge cards. So we're it's isn't just a one year game, but the strategy that you're helping us build is where we can roll.
00;38;39;02 - 00;39;09;11
Unknown
Is it possible to go from year to year to year at 0%? And then what? What are the fundamentals of that? Does my utilities have that usage? Have to come all the way down under 15%, or what are some of those requirements to keep my 0% going year after year? So absolutely, you can you can continue the card stacking process year after year after year, or whether the card is a 0% card for six months, nine months, 12 months, 24 months.
00;39;09;14 - 00;39;40;25
Unknown
What we do is the same thing in my initial example in the beginning of this call, when we talked about the $20,000 Chase card merging with a $10,000 card, the only difference is we're doing that on the business side. So instead of merging personal cards together, we're merging business cards together. So if you have the maximum amount of cards that one business lender gives you, once you've merge them together, now you've opened up new slots to be able to apply for those cards again, and then you can merge them again.
00;39;40;28 - 00;40;05;27
Unknown
That's the only way that we ever that we got $75,000 cards, 80,000, 100,000, 150,000 on one card is because we are merging them together. So that's how you take an old card that has an interest rate and then you merge the new card. Let's say the old card with an interest rate is 60,000 and they give the new ones 5000.
00;40;05;29 - 00;40;31;05
Unknown
Yeah. You merge the 5 to 5000 that has 0% into the $60,000 card. And now you have a $65,000 card at 0%. That's incredible. So I could have a $100,000 balance that I'm about to be paying interest on from a couple cards. And I can merge them into another card that really only has a limit of ten grand and go 0% again, exactly.
00;40;31;07 - 00;40;50;08
Unknown
That's the only way to reinstate 0% on an existing card. Whether it has a balance or not is to take a brand new card that has 0%, and to merge it into the old card. We don't want to lose the old card because the old card has the seasoning. Yeah, the new card doesn't matter. We can get rid of the seasoning on that.
00;40;50;08 - 00;41;21;26
Unknown
All we want is the 0%. So if if we are spending at a place that doesn't accept credit card, you can use mellow payments. Write that down guys. Buildcon sure everybody's heard of that or plastic? Plastic. This one here specifically allows you to fund an escrow account directly. Now obviously sometimes there's seasoning requirements and so on, but either way you can spend directly with any vendor regardless of whether or not they accept credit card.
00;41;21;29 - 00;41;39;16
Unknown
You can do a wire transfer, you can do an ACH, you can do a check payment. What you do is you set it up, set up an account with one of these places. Then you log into the account. Then you add your credit cards into the account. Then you take the invoice from whatever company you're trying to purchase from.
00;41;39;16 - 00;41;59;08
Unknown
You upload the invoice, then the company approves it. You know whether it's plastic build up or Melillo. Then they ask you, how do you want to make the payment? You want to do it in wire? Do I do an ACH or do you want to do un check? And then when they charge your card, they're charging it at the 0% purchase rate.
00;41;59;11 - 00;42;20;10
Unknown
That way we can avoid cash advances. A cash advance is not ever going to be a 0% ever, ever. Even if it's a 0% card, the cash advance part of it won't be. So we have to do purchases off of those cards. And the only way to do it is to use one of these third party payment services.
00;42;20;12 - 00;42;47;27
Unknown
So I'm just curious if anyone has any questions about that. All right. So now when when you are using a credit card you also get this thing called chargeback. I'm sure some people know what that is. Other people are definitely scared of it. And everyone who runs a business that accepts credit cards knows they don't want chargebacks.
00;42;47;29 - 00;43;09;25
Unknown
And for those that are scared of chargeback, it's because their service sucks and so they are unable, you know, they get too many chargebacks so they don't charge, so they won't even allow their clients to pay for them with a credit card. But let me explain in more detail. Let's say that you're working on, rehab and you are putting on a new roof, maybe cost 15, 20 grand.
00;43;09;25 - 00;43;33;20
Unknown
You're in a different state that you don't usually work in. So you're dealing with contractors that you're not familiar with. And so you decide to put that $20,000 charge on a credit card. Well, let's say that that company doesn't get the roof to pass inspection. It's red tagged. They don't care about your timetable. You've been calling the roofing company to try to get them to come out and finish it, but they're not.
00;43;33;23 - 00;43;49;15
Unknown
What you do is you turn over your credit card, you look at the number on the back, you call the number on the back, and you tell them, hey, this company is not living up to their word. So then the credit card bank is going to call that company and try to get through to them, try to get them to follow their word.
00;43;49;21 - 00;44;12;02
Unknown
And if you're not lying and if they're not, if they're they're truly not following their word, then the credit card bank is going to take that $20,000 off the credit card, I'm sorry, out of their bank account and put it back onto your credit card temporarily. It'll temporarily be there until the roofing company either finishes the roof and they they pass in it's passes inspection.
00;44;12;05 - 00;44;38;20
Unknown
Or if they don't respond, then you get to keep the money. Now obviously the company is probably going to call you right away and come and finish that job. I've I've personally had to use chargebacks multiple times with large jobs. One of them was $35,000 and then there was no other way. If I had not paid for that on a credit card, I would not have gotten my money back.
00;44;38;27 - 00;45;07;02
Unknown
Period. So, G is saying there are about 2.9% fees per transaction, and that is exactly right. So if you go back one slide, if you are paying by check, I think it could be like 1% or 2% if you pay by ACH, I believe is 2%. And then if you pay by wire transfers 2.9% g. Correct me if I'm wrong, but it's something is right around there.
00;45;07;07 - 00;45;33;10
Unknown
You're going to pay a small percentage to pull that off, but that's simply part of the cost of of using a business credit card. It's the card itself is at 0%. So it's really low. And let's remember guys, the majority of this you're not going to need to use the payment services. You're going to just go to Home Depot and you're going to spend the money on rehab materials, or you're going to spend it with your contractor, the electrical contractor, your plumbing contract.
00;45;33;10 - 00;46;04;12
Unknown
You're going to spend it for marketing or a variety of other things. And through all of that, you're going to get lots and lots of cash back. Most of these cards give you, 1 to 2 to even some are higher than that. Imagine getting 2% cash back fund and grow could easily spend 50 or 100,000 in one month $100,000, 2% cash back means that I'm cutting my my my my purchasing power of my dollar has gone up by 2%.
00;46;04;15 - 00;46;24;05
Unknown
Think about that. So if I'm spending $100,000, I get $2,000 back. Now, what loans do you guys have? That ever give you anything except for grief? Every other loan that you have, all you could do is you can make payments on it. They're not paying you no auto loan. You got to pay the payments on it. They're not giving you anything.
00;46;24;07 - 00;46;40;19
Unknown
Mortgage. You got to pay the payments on it. They're not giving you anything but a credit card, a credit card. For some reason, when you use the loan, they pay you and this is really important because if you're spending a lot of money every month, then you're going to be able to get a lot of cash back.
00;46;40;19 - 00;47;03;21
Unknown
You're going to be able to go on expensive trips for free. And you guys weren't even thinking about the points. These points here will easily pay for that 2.9% fee. For that 2% fee, this right here will totally cancel out any of these types of payment fees. Does that make sense, guys? Because you're going to be getting cash back on these.
00;47;03;27 - 00;47;29;21
Unknown
And so whether or not you even use those payment services you're definitely getting your cash back. So if you have to use a payment service then it could offset that. So we definitely have clients that are making more money through the cash back. Then it costs them through using the payment services. And a few years ago I flew to Barcelona, Spain with business class.
00;47;29;24 - 00;47;54;22
Unknown
You know, with that it's just amazing with, you know, you basically get to lay down in a bed and you know, there's served and it's I didn't pay anything for it. I would have been a $45,000 trip, nonstop Tampa, Barcelona and back for me and my family. And instead a $45,000 trip cost me $0 because I bought it using my points.
00;47;54;25 - 00;48;22;28
Unknown
And if I was smarter, I would have been able to get them to stretch even further. And let me explain that. So if you have an American Airlines card, credit card, and you're spending on that American Airlines credit card, you're going to get American Airlines points. Now, if you log into your credit card bank that is affiliated with American Airlines, and you spend the points out of your log and your credit card log in, you're going to only get a certain amount of benefit.
00;48;23;00 - 00;48;53;12
Unknown
But if I go over to American Airlines website, not American Airlines, not not the bank that's affiliated with American Airlines, you know, like the co-branded thing, but the actual American Airlines website. And I create a log in there. Then I transfer my points from the credit card bank to American Airlines. These points are transferable. When I've transferred those points directly to American Airlines and spend directly off of American Airlines website, they want to incentivize you to do this.
00;48;53;16 - 00;49;17;10
Unknown
And so what happens is you end up getting three times, four times, five times the amount of points simply by transferring the points from the credit card bank over to the airlines. And this is true with a variety of different points programs from these different credit cards. So that's all really, really important because when you're a business owner, you could be doing a lot of traveling.
00;49;17;13 - 00;49;40;11
Unknown
You're going to be doing a lot of spending on your marketing. And to get cash back on all these things is just super important. And no, I'm not talking Dave Ramsey where he's like, why would I spend $100,000 to make 2000? That's not what I'm talking about at all. I'm talking about the spending that you and your business would be doing anyway.
00;49;40;13 - 00;49;55;16
Unknown
How much spending do you do every month? How much? What about for your facility, or for your electric bills? Or for your phone bills, or for all of these different things? Instead of spending it out of your business bank account, put it on a credit card. Get your cash back. This is what lots and lots of people are doing.
00;49;55;18 - 00;50;21;01
Unknown
So funding growth can help people that have good credit get you access to huge amounts of credit. And we're talking about more than 250,000. We advertised up to 240,000. If I were to take you into our database and sort it, you would see 700,000, 600,000, 500. You would see countless clients that have received more than double what we promise, because we're simply able to get a lot of credit.
00;50;21;01 - 00;50;41;14
Unknown
But for today's call, I'm only going to be talking about going up to 250,000 because that's average. That's average. And so that's what we're talking about. And you can use that to pay off other credit lines. You can use it to invest in and whatever aspect of your business you want. Yeah Dave Ramsey doesn't live in reality. That's right.
00;50;41;21 - 00;50;58;28
Unknown
Exactly. So and you can do all that without going to these questionable money sources. And so here we have a client, two clients that have gone through two batches. So the one that I showed you in the beginning was a client that went through the entire program. This these clients have only gone through two batches so far.
00;50;59;04 - 00;51;27;27
Unknown
So they both have one more batch to go. So I'm circling the batches. So so far this client here has received 190,000. And again look how it came in declined with with this bank. And then up to 30 grand through our negotiations again declined. Then 131,000 then declined 13,000. So this right here is what the expertise of funding grow does.
00;51;27;28 - 00;51;45;28
Unknown
We show you how to get 70% higher limits. This is a very real thing we can show you. I'm probably actually if I have time, I'll bring up our CRM and show you live how much funding we got today, yesterday, this month. And you're going to see this exact same trend. One third of the funding comes in from the applications.
00;51;46;01 - 00;52;09;04
Unknown
You see this the applications and two thirds come in through the negotiations. So when I say one third comes in through the applications, imagine how much work we've done. Remember we just went over the credit report, all these different statistics, all these different things that we're doing on the credit report. And then we only got nine grand for this client.
00;52;09;06 - 00;52;32;14
Unknown
Do you think this client would have even got that nine grand if we hadn't done all that positioning for them? Heck no. That's what we do. All that positioning so that we can get them these higher amounts. That's why this approved column shows so much funding as because of that positioning. So even if the positioning isn't, bringing in the credit right in the initial amount, that's because this is what most people are used to experiencing.
00;52;32;21 - 00;52;54;13
Unknown
They're used to experiencing getting these denials. How many times, guys have you applied for something? Let's say that you were at a line in the some department store and they're like, oh, you'll get 20% off if you apply for this card. So you said whatever and you applied for the card. And then whether you got approved or whether you got declined, you just took whatever they said and left.
00;52;54;13 - 00;53;17;01
Unknown
That was that. And you never called. You never find out why you only got approved for that amount. Is that most people story? How many people call the bank to negotiate? Most people don't. And that's why they're missing out on this. This client would not have got 145,000. They would have gotten 9000. And again, that's after we did all of our positioning.
00;53;17;04 - 00;53;41;24
Unknown
So here's a client that's a group, real quick, all right. If you could, just kind of break down timing. So we're looking at some dates in there. Sometimes there's a six month kind of gap. Another time it's maybe only three months. And we're going through again if I'm, you know, if I haven't done any of this and I'm coming to funding growth saying, okay, hook me up, how long is this process going to take and why?
00;53;41;24 - 00;54;03;06
Unknown
The difference between sometimes three month gap and six month gap. So it depends on the client. If they want us to move forward right away, then we'll move forward. Some clients will opt to put their file on hold so that they can. They don't lose any money. They don't lose any membership. They just put it on hold and then we can move forward.
00;54;03;08 - 00;54;23;14
Unknown
You know, like six months later when they're when they're actually ready to move forward. So in this instance, this client here did three batches. Is that also part of that strategy where you were saying you've got to spend some of this, you know, in here. So is are we also looking at where we're putting money and timing for it.
00;54;23;14 - 00;54;40;04
Unknown
So that's it's all if they hadn't spent it properly than we were then we would actually recommend, hey you need to utilize these cards. We're not telling you that to make your membership expire or run out. In fact, you can put it on hold, but you need to go use the cards properly so that we can give you a really good next batch.
00;54;40;06 - 00;55;10;22
Unknown
Like for example, look at this, look at this. So this client on this on these accounts got 12,000 1160 3007 thousand. And that was in 2004 November. Then on their next round of funding that they got a 6000, a 26,000 and a declination. This might have been from spending from not spending properly. And then on the next round, suddenly they get a $105,000 card.
00;55;10;24 - 00;55;33;17
Unknown
So a lot of times that's from spending properly and utilizing the cards. And then that allows us to go after those higher limits. Now every situation slightly different because we can also migrate over. So here's a client that got 223,000. We can also migrate over some of the personal limits that you had. For example, on this one you see here was as preexisting.
00;55;33;19 - 00;55;58;20
Unknown
Some of these accounts were personal cards that we moved over to the business side. So when you have a approved limit from a bank, let's say that you have you're talking about Chase Bank, for example. They look at their total amount of funding that they've extended to you. They don't care whether it's personal, whether it's business. They see the total amount extended.
00;55;58;22 - 00;56;21;18
Unknown
So if you have a huge amount on the personal side that you're not going to even use because it's not a 0%, we can migrate those over into your new business accounts and have higher limits on the business side. And it's not just us. You can do this too. In fact, we explained to you guys exactly how to do this so that you can speak to the underwriter and you can get these types of outcomes.
00;56;21;20 - 00;56;42;13
Unknown
There's not that difficult. You just have to know who to talk to at the bank. Which is called an underwriter. It's sometimes sometimes, you know, it's hard to find the right number, you know, but there's a variety of different, like, call centers, like Chase has a bunch of different call centers. We know if we call call center A, it's likely we'll get this outcome.
00;56;42;17 - 00;57;04;08
Unknown
And if this client is having a problem, don't call them. Call this other, you know, call Chase's call center in the Midwest. So it all depends on the client situation. Depending on how we're going to tackle that specific, you know, their applications, but we're going to look and find the ones that are most likely to approve the ones that are most likely where we can merge together.
00;57;04;15 - 00;57;20;09
Unknown
And then we're going to get you as much funding as we can. So I see Josh is saying I started using a miles guy. He gave me a very real, real quick just I hope if it's okay, if you could stay a little bit longer for some of these questions that. Yeah, great. I also want to get in here.
00;57;20;09 - 00;57;42;07
Unknown
People want to know what does it cost to work with funding grow. It sounded like the membership was a we're literally we're like one slide from there. So we're going to get to that okay. All right. Cool. But Brandon said this is cool guys called called Amex last week for my 20 5KA 0% for 12 months after being declined.
00;57;42;10 - 00;58;04;17
Unknown
So in other words, he applied. He got declined. And then he gave them all they needed was articles of organization. And then they approved him for 25 K. That's that's a good example of a lot of the negotiations. So when when calling in, it's as simple many times as giving them the articles of incorporation or whatever simple documents they're asking for.
00;58;04;20 - 00;58;25;18
Unknown
And by the way, guys, this is us in front of our building. This is me right here in the very center. So we are very excited to do this. We've generated over $2 billion for over 30,000 businesses, and we're super proud of that. So let's get into it guys. So this is what we have. This is what we have for you guys today.
00;58;25;20 - 00;58;53;05
Unknown
Now if you go to fund Negro's website, you're going to see that our service is sold for $4,000. So today my arm was twisted. I had to give you guys a really good deal. So it's at $3,500, but you can't just sign up without qualifying. So I need you to take out your camera pointed at the prequalified at this at this QR code, click on the little thing.
00;58;53;05 - 00;59;19;04
Unknown
It'll pop up. Go to that page, fill out your name and the information that's asking, and only ask for a couple fields. And this will immediately within 2 to 3 seconds, give you a pre-qualification amount of a snapshot of exactly how much funding we can get for you and your first round of funding, as well as over the life of our entire membership.
00;59;19;06 - 00;59;40;04
Unknown
So Doctor Sherry saying the cost is a no brainer. And you're absolutely right. It is. This is why we've been doing this for since 2006. And again, you remember what happened in 2007. That or I'm sorry. Yeah. Well, for us, it started in 2007 because we were doing, mortgage lending to. And then the great crash was in 2008.
00;59;40;06 - 01;00;03;18
Unknown
But this type of lending has just gotten more and more popular because think about if you were a bank, would you want to just give out million dollar loans to on real estate that could just go belly up? Or would you prefer to do micro loans 50,000 40,000 100,000 and mitigate the risk between different lenders? So it seems to be that how the banks like to get money out.
01;00;03;20 - 01;00;32;21
Unknown
But again, before you can sign up, we need you to pre-qualify. So if you scan this QR code and you qualify immediately, you're going to see the 3497 buy link below the, pre-qualification form. So once it shows you exactly how much funding you qualify for below that, you'll see that you can buy at that price. And there is payment plans, by the way.
01;00;32;23 - 01;00;51;07
Unknown
So let's get to some of these questions. So what have you already signed up before with Funding Grow David how much funding did you get the first time with funding grow and you're allowed to sign up again? David, we I don't know if you had to pay 4000 the first time. Now you'll get you'll get a better deal the second time.
01;00;51;10 - 01;01;11;27
Unknown
But, yeah, we most of our clients sign up year to year. So I already filled out and booked on the website before you offered the QR code. Ethan, you're on top of it. So Doctor Sherry says it's a no brainer. Let's see, I could use some of these business credit credit funds to private money lend. Oh, yeah.
01;01;11;27 - 01;01;38;26
Unknown
That's that is that is definitely a thing. We've had quite a few people, they ask, well, how do you do that? And the answer is you could you could do it just through simple no loans. So Maddox says you renew every year. We have some clients that do renew every year. So here we have a client that just went through their first round and this is and he's received 68,000.
01;01;38;29 - 01;01;50;00
Unknown
So and that's just on round one as a pretty average amount for round one could be anywhere from 50 to 60 70,000.
01;01;50;02 - 01;02;12;27
Unknown
Here we have a client that's on I'm not sure exactly which round they are, but they've received 200,000 so far. Can you expand on the commercial credit listed as a bonus? That is a great question. So let's go back to that. So the corporate credit. So if you guys want to buy buildings like this then you will want to use corporate credit.
01;02;12;27 - 01;02;34;21
Unknown
So this building is a $2 million building that I bought using corporate credit not using credit cards. Now of course I have access to a lot of business credit cards, but once you get access to a lot of business credit, you can start building what's called corporate credit, which is a credit through Dun in Bradstreet and through your pay score.
01;02;34;23 - 01;02;52;25
Unknown
You have to have revenues, of course, so you have to actually be earning money and you be able to prove it on your tax returns. But if you can, then you're going to be able to get access to a lot of funding. I own multiple, office buildings that I've purchased, and you can buy it doesn't have to be an office building or commercial building.
01;02;52;25 - 01;03;22;18
Unknown
It can be residential, too. But that was purchased using the corporate credit program. And the hundred thousand is just a starting point. This is something that that pretty much anybody can get access to when they're when you're first getting started, even if you don't have much revenues. But then if you want to get a $2 million loan, then you're going to need to start having revenues and have a good payback score, which is your score with Dunn and Bradstreet, which is the corporate credit bureau.
01;03;22;20 - 01;03;41;09
Unknown
So here we have another client of, 351,000 in funding. I'm not sure if this is the same one from the very beginning of the call. This might be another one. But we can see that they did three different rounds of funding.
01;03;41;11 - 01;04;07;17
Unknown
And that, that that culminated in them getting 351,000. They got 152,000 just on one credit card alone, on one chase card. Chase is good for those high limits. But many of the banks give out, you know, fairly decent limits you can build up to like even 36,000. It's not a bad limit, especially if you're merging it or I'm sorry if you're using it in conjunction with other high limit cards like another $24,000 card.
01;04;07;20 - 01;04;27;19
Unknown
So Doctor Sherry's asking how does it work? Since my my hubby and I both have our own credit scores? Oh, perfect. And we're both partners in the business. Can we use our individual credit? Both. So now what you guys are getting for with this program right here is you're actually allowed to put in your partner for free. Do you see this?
01;04;27;21 - 01;04;50;27
Unknown
This partner upgrade means that we are allowing you. I can't believe I didn't call this out Dave. We're allowing you to use two different credit partners. So, doctor Sherry, you are credit partner number one. You don't have to pay the 3500 again for your husband. He gets to join the program for free because you're a member. So this is another thing.
01;04;51;00 - 01;05;14;21
Unknown
I guess it's not truly priceless. The price would be 4000, but priceless. Looks better. But, anyway, that's something that we'd like to offer because we see a business many times as being two partners. It could be a husband and wife. It could just be two business partners. We've seen businesses that are, you know, the business owners working with their adult children.
01;05;14;24 - 01;05;36;05
Unknown
So we've seen all different types of scenarios, and that's pretty common actually. Both of my children work at fund and grow my daughter's 22. She works at Fund and Grow and my son is 20 and he's one of the application specialists. And so a lot of times, people will work with their adult children. I don't use them for funding, but we have a lot of clients that do.
01;05;36;09 - 01;05;58;18
Unknown
And so I actually, I have, but I didn't used our funding. I, I did it to help them build their credit so that they will have better credit. But I didn't need to use their funding. But you can you can if, if, if you, have their permission and you're working together with them. So, so here so this client at 351,000.
01;05;58;18 - 01;06;18;28
Unknown
So Maddox is asking, how long does it take to find out what funding you'll get if you're on the ball with getting what you need from us and have great credit, Maddox, you're going to find that out instantaneously. Go to the scan that QR code, fill out that form, and you're going to instantly see exactly how much funding we can get for you.
01;06;19;00 - 01;06;43;17
Unknown
So I'm going to go ahead and, bring up our CRM. Give me just one second, guys, because I didn't have this brought up. I'm going to have to log in real quick. So, Dave, are you able to see this the funding grow? Yeah. Yeah, yeah. Your screen your screens up right now and, and just R2 with that package that you've offered the seven five group.
01;06;43;19 - 01;07;01;26
Unknown
That was kind of important for us to have all of that. You know, those calls, the strategy, all of those pieces. Because just as a mastermind, we wanted everybody to be on the same page. So as we're going to have a lot of different members going through this, and there's just a power and being able to talk about, here's what I just did.
01;07;01;26 - 01;07;24;23
Unknown
Here's what I just got, here's what's happening and everybody being on the same page. So anyway, thank you to you for being flexible and putting all of that together for us. Absolutely. So what I've brought up here, it looks kind of boring guys. But this is this is the the vlog in the back end to our CRM. So this right here is what our employees log into.
01;07;24;24 - 01;07;39;28
Unknown
And by the way, you guys get a really cool log in to. And I can show you guys what that log in looks like in just a moment. But we make it really easy for you to fill out your documents. There's just one click sign. It's not. We make it as simple as possible. So now, guys, look at this right here.
01;07;39;28 - 01;08;03;17
Unknown
Let's look at this month down here. So unfortunate I can't draw on this because this is live. But do you notice that it says 11 million. And this column right here. So this month so far the funding growth team has generated 11 million in business credit cards. And out of that 11 million, 2.9 of it came from the auto approvals that came when we applied for the client.
01;08;03;25 - 01;08;26;21
Unknown
We got 2.9 million in funding, but 8 million came, which is the two thirds amount that I was talking about. The 70% more 8 million came through this negotiation process. This is everything. So these these folks that we applied for would have only gotten 2.9 million in funding. It seems like a lot that was a lot of clients that went through that add on top of that, that 8 million.
01;08;26;21 - 01;09;00;11
Unknown
Now you're talking about 11 million in total funding. That is that that is way worth it. So let's look at today. So today when we applied we got 74,700 in funding, which admittedly is a little bit low. But under negotiations you see 887 887 for a total of 962,000 today. And so yesterday was a more typical day where we got 237 and auto approvals, then 357,000 in negotiations, for a total of 595,000.
01;09;00;13 - 01;09;28;14
Unknown
So and then if you look like like the other day, we got $1 million in funding right here. And, out of that was 602, 620 negotiations and 446 in auto approvals. So that's just a little background snapshot of of what we're doing. But let me I'm going to go ahead and log in to the client portal. And but I just got to make sure that none of my.
01;09;28;16 - 01;09;48;21
Unknown
All right guys. So this is what you'll see as soon as you log in. Welcome to funding growth I'm all right. So once you're logged in, instead of seeing this welcome thing here, what you're going to see is the documents that we need you to sign to get started. Now once you've gotten started and you have funding coming in, you're going to notice that over here on the info center, this is where your funding shows up.
01;09;48;28 - 01;10;05;02
Unknown
So this is a, a round of funding that the Funding Grow team did for me a number of years ago, 40,000, 30,000, 25,000, because I got to keep using it even though I don't really need it for much. I got to keep using these cards. So. But this is what the inside of the account looks like for you guys.
01;10;05;02 - 01;10;26;04
Unknown
It's very easy to log in is very secure. We have we have two factor authors, authentication. And we make it super easy to be able to go through and sign all the documents and move forward and actually get funding. So let's go back to these questions.
01;10;26;06 - 01;10;51;12
Unknown
All right. So I use a miles guy and he has a schedule where we open up cards every three months that are mostly personal cards. And occasionally business card. Was signing up with you be too much. Josh, I highly recommend that you stop doing that with personal cards. It's not a it's not an ideal way of going about getting, you know, of doing this.
01;10;51;14 - 01;11;13;11
Unknown
I really recommend that you use business credit cards so that you can get access to funding easier. Like like there's there's a lot of a lot of companies out there that get people personal cards because it's easier to get your personal cards, but it's better to use business cards because business cards do not require the same pay down.
01;11;13;11 - 01;11;33;16
Unknown
Do you guys remember the 35%? The 30% where if it's a personal credit card, in order to get ready for your next round of funding, you have to pay all your personal credit cards down to 30%. Do you guys remember when I went over the credit report? So personal cards are difficult because you have to pay them down to 30%.
01;11;33;18 - 01;11;53;24
Unknown
They're easier to get approved. So your miles guy, he wants to do that because he gets paid when you get approved. But that's not as helpful for you as a business card would be. So a business card would allow you to use the full limit and then you can you would only need to pay it down to 60% prior to going for your next batch.
01;11;53;26 - 01;12;17;18
Unknown
So let me know if that makes sense. Josh. So how long then? So since he doesn't really do much with business cards, I can still do the business cards with you. That's right. But remember, they're going to interfere. Because if he's racking up all kinds of inquiries on your credit report from applying for personal cards, and let's say that you've used some of these personal cards, and they are carrying a balance.
01;12;17;20 - 01;12;40;26
Unknown
Well, you're going to need to pay every single one of them down to 30%. Okay. It's just two cards every three months. Is what he's doing then that probably once you get started with fun to grow, you would definitely want to coordinate his efforts to to to go along with when we're applying so that when we do a batch, he could apply on the same day after we've applied for personal cards.
01;12;40;29 - 01;13;02;05
Unknown
But that way it's kind of like shooting off a gun when the train is going by. No thank you. So how long before you can utilize it? From the day we sign up? One week, one month. Okay. So that's a great question. So usually it is a 30 to 45 day process. So 30 to 45 days because of the following.
01;13;02;08 - 01;13;23;01
Unknown
If we're working on your credit and we're helping you raise your scores, it's going to take 30 days for that to report. Does it make sense guys it takes 30 days for something to update on your credit report. And we're not doing rapid risk for everyone. That's for mortgages. What. So so the 45 days now and so that we have two weeks to apply for you for the negotiations.
01;13;23;06 - 01;13;47;08
Unknown
So 30 to 45 days is a, an average time frame. Now, let's say that you're above average and there's absolutely nothing we can do to raise your scores. In that case, you could have funding coming in within 15 days, just a week or two. Brandon, you are absolutely welcome. Thank you for joining us tonight. So he's jumping off.
01;13;47;11 - 01;14;10;12
Unknown
So the 3500 is a flat fee up to 250 K. Are there additional fees. And no the 3500 is a flat fee. There is no additional fee from us. Now if you don't have an entity set up, we will direct you to set up an entity and each state charges to set up an entity. I'm not talking about like a fee to set up the entity.
01;14;10;12 - 01;14;30;05
Unknown
I'm talking about the actual filing fee from the government, from the state. So if you don't have an entity, there could potentially be a small fee for that. That's not to us. That's for you to get your own entity set up. The other fees that could be involved are, like when we talked about moving the credit off of the cards.
01;14;30;08 - 01;14;56;12
Unknown
Let's go back to that slide. So there could be fees with this with, when you're pulling the money off the card, it could be up to 2.9%. However, this is usually offset by the client's spending where they're getting cash back. So do you guys understand that I'm being very, very, very, very, very upfront. Most of the other programs that do this would not even go into much detail.
01;14;56;12 - 01;15;19;14
Unknown
They're just like, nope, there's no fees, you're good to go. But we're trying to be as honest. We're not going to charge you any fees, Jason, but there could be other ancillary fees that are just part of doing business. So what are the payment plans look like? Let's go ahead and bring up one of the payment plans.
01;15;19;17 - 01;15;25;01
Unknown
So,
01;15;25;03 - 01;15;50;21
Unknown
Actually, I just realized I would have to go through the pre-qualification to do it, but, so so the payment plans are as follows. You can pay a full payment of 3500, or you could pay two payments of around 1800, or you could pay three payments of around 1300, or you could pay five payments of around 800. And something.
01;15;50;24 - 01;16;13;07
Unknown
So once you once you get in there, if you prequalify and and you and it takes you to the purchase now page, you'll be able to see exactly what those programs are. I mean, what those payment, what the payment programs are. But really, we should have had that breaking down for you guys. Sorry. Next time we will.
01;16;13;09 - 01;16;33;22
Unknown
Okay, so a one year renewal option each year. So how long is the coaching program? Thank you. Dave. So Adam says I signed up for this about 20 days ago. Awesome. We look forward to serving you, Adam. So, hypothetically, if I get 70 5K1 round, how long before you can go for round two? So that's a great question.
01;16;33;24 - 01;17;09;20
Unknown
We generally do around three rounds of funding in one year. So it could be it would be a couple months before we go after the next round of funding. Is tonight the only time that we can sign up? Well, we certainly wouldn't be processing millions if that was the case. So no, that is not that. Tonight might be the only night you can sign up at 3497, but, in fact, I actually that link is, is a, negotiated discount for you guys that you guys will get from now on.
01;17;09;22 - 01;17;32;16
Unknown
So, the seven figure flipping, Empire has essentially negotiated that for you guys on a on a permanent basis. So you guys can sign up for the 34, 97 at any point. So let's see. Robert says, can you find a way to buy manufactured homes before you put them on real property that have obviously refi out of them?
01;17;32;18 - 01;17;57;20
Unknown
I'm a new manufactured home dealer. Don't want don't know where to start on financing. And the, the answer to that is yes. So can you, to buy manufactured homes? So when, if you if you're buying a manufactured home directly from a company, then you can request an invoice from them and you can upload that into your, into your account.
01;17;57;20 - 01;18;31;05
Unknown
In terms of the let's flip back to that guys to hear millio.com and plastic. So these right here allow you to pay vendors that don't typically accept credit cards. So a manufactured home company will give you an invoice. You upload it and then you choose which ones, which credit cards you would like to purchase out of. So and Josh is echoing, he's saying the factories I use don't care where the money comes from and that he's personally been using hard money.
01;18;31;07 - 01;18;52;09
Unknown
So this is awesome. We got a little mini mastermind going on in here. So, Robert says I will be the company. I am a dealer now. Okay, so I can do that as a dealer. Same thing. And absolutely. So. All right. Did I miss any questions?
01;18;52;11 - 01;19;15;24
Unknown
So, Scott, ask, is this a lifetime membership? And no, this is not a lifetime membership. This is a membership that is for one year. And within that year, we're going to get you around 30, around three batches of funding, which is going to get you around 250,000. If you know that you have good credit, then you know you'll get more.
01;19;15;26 - 01;19;32;25
Unknown
If you know that you have bad credit, then you might have to do some work to be able to qualify. So how does this work for someone who's yet to set up Naomi, what have you not set up? You talked about your entity. Because if you haven't set up your entity, that is something that that we can help you with.
01;19;32;28 - 01;19;54;16
Unknown
Inside the funding program, you'll see there's actually entity creation. We don't charge extra for this. This is free. So depending on where you are, you go through this and get your entity set up. And so we although it would be easier for us to apply for a personal credit card for you, we want to get you a business credit card.
01;19;54;19 - 01;20;20;11
Unknown
It's our business credit card. So it's really important that you have an entity. If you need any help getting the entity set up, then our team will help you with that. But that's paramount to us being able to actually get you business credit. Could signing now be necessary? I'm not sure. Would you be able to clarify exactly what you're asking?
01;20;20;13 - 01;20;42;29
Unknown
Oh, okay. Yes. No. Yeah. You would sign up with our program now and we will help you with the entity. Yes, absolutely. You can go ahead and get started. So how do you utilize the cards to make cash purchases with vendors or labor, or can you. Yeah, you can actually even pay, payroll using those third party payments.
01;20;42;29 - 01;21;06;01
Unknown
So they've. Oh, I thought yeah. No, I was I was just about to jump in there to an answer. Fanatics like 680 was the magic credit score. And, you know what team? Just feel free to message our info at seven figure flipping.com. Any other questions? You guys have to. All right. You've already stayed almost 30 minutes late.
01;21;06;01 - 01;21;28;26
Unknown
You were not kidding when you said you were just going to be totally transparent. Bring it. Spell out exactly how all of this works. You've been doing this for 20 plus years, obviously crushing it, opening up your career and the show. What you're funding people today is phenomenal. Thank you for the package you've put together for us and for all of our community.
01;21;28;28 - 01;21;50;07
Unknown
Man. Yeah, guys, just keep just sign up, sign out, do a strategic. All right, sign up, see what you qualify for. If you if your credit score is under 680, you need to come. Tracy, drop the Kingdom credit link in there. We can also send it to you from info at seven. Figure flipping.com. Well, we just we're really good at private money.
01;21;50;07 - 01;22;08;26
Unknown
We're really good at hard money. This was a gap for us. All right? Like we didn't we just didn't have a great partner for business credit. Now we do. We're so glad that we found you. Grateful for your team. You guys have just been super straightforward. Adam posted in there that he signed up with you guys about two months ago.
01;22;09;03 - 01;22;29;10
Unknown
His experience has been elite. It's been the highest level, super happy with it, which is why we then wanted to share this with everybody else. So thank you. Thank you. Signed up undercover and we didn't even know we we would have marked the file as VIP, but we didn't even got to know. It's for our people. We have to know.
01;22;29;10 - 01;22;49;27
Unknown
We have to know what we were, what we're recommending, and you guys, you guys respect that. Yeah. Flying colors. But no. Thank you so much for jumping on today. You've just been you've given our group a wealth of information. Thank you. All right guys I hope you got a ton out of that conversation with Dave, Tracy and Ari from funding.
01;22;49;27 - 01;23;18;10
Unknown
You grow. If you're serious about building a real estate business that's stable, scalable, and protected from cash crunches, this is the kind of strategy that separates hobby investors from real business owners. If you want to check out the link to Funding Grow that was mentioned in this episode, just click the link in the show notes. And while you're there, check out our previous episodes of our funding series.
01;23;18;12 - 01;23;25;20
Unknown
Thanks for listening and as always, I'll see you on the next one.
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