How to use business credit cards to buy real estate?
I actually made a video about this before. But this is the
updated version because I needed to give you this new information.
Because I have been able to get more than 2 million dollars in business
credit and there are some things that I learned in the process that i just
had to share with you guys. Because there is just so much wrong information out
there and i just had to set it straight for you.
So, let's go.
So, real estate investing has been life transformational for me. It has literally
taken me where i was working a job, hated my life,
literally actually in my parents basement to a multi-millionaire with
lots of properties, books, podcasts everything that I do now.
Real estate has literally changed my life. But it wasn't real estate,
it was investing in real estate, okay? So, the thing with real estate and where I
really had it wrong, but I want to make sure that you know the difference is.
You must invest in real estate as an investor and not
as a civilian. Real estate investors look at real estate very differently.
We only care about if the real estate is going to make us money,
how much profit there is based on what we plan on doing with it.
So, when I first got into real estate, I thought that I had to own
properties and that i had to have all these houses to make money in real
estate. But I was so wrong. Literally I had
properties and lost all of them and ended back up in my
parents basement with no properties and bad credit. But in that
basement is where I found someone that taught me
that you do not need to own properties to make money off of them. He
taught me a concept that i had never heard of before
called wholesaling where I would find people that had property problems either
they were in foreclosure or bankruptcy or divorce or all these other situations.
I would get those properties under contract
and then i would flip those contracts to someone else for more money. This was
completely legal and I started picking up fees of 5
thousand, 10 thousand dollars and then I just scaled from there. And
you could do the same thing. Once I started wholesaling, I then got
into fixing and flipping. I would buy properties (again) using those same
tactics that he taught me to find people with property problems.
Instead of just signing the contract over to another investor,
I started keeping those properties myself, getting a hard money loan,
fixing them up and then selling them for profit.
I then took that and then I turned it into rental properties
and the rest is history. I was able to quit my boring 6-figure job
and spend the life that I wanted. Owning my time, with my kids and my husband and
doing what i wanted to do. Life was really good for me. But it
wasn't until I added in the business credit that I was really able to scale
my business. Like I said, I was doing wholesaling and
I was doing the fixing and flipping. But around that time i started learning
about business credit. And people were telling me that you could get way more
funds in your business's name. So, I started applying for business
credit. They were giving me business credit cards and lines of credit.
I got a business checking account at different banks. I was going to different
banks and opening up different business checking accounts.
And they were all giving me business credit cards and business lines of
credit. And I could turn those lines of credit
into money. I could literally buy real estate with them
and I grew and blew my property portfolio
up. I started making so much money that I was like, "Wow, let me teach other people
what i'm doing". And that is the beginning of the story
not the end. So how, I was able to use the business
credit cards and turn them into real estate is
I took those business credit cards. Like I said, I went to multiple banks. I got
multiple business checking account at different
banks. They all offered me business credit cards and business lines of
credit. And I took those credit cards and lines
of credit and I bought rental properties with them,
okay? It was really just that simple. Many people said, "Well, how did you get cash
from a credit card?" Well, literally, almost every credit card
they gave me had a portion of it that I could take
off as cash. The funny thing about it is I had been taught never ever, ever
take cash off of a credit card. That's what my parents had told me, that's what
people professors had told me. This was like this crazy thing that you were not
supposed to do. But the millionaire that was investing
in real estate that had tons of money, he told me "You should do that." And the
reason why you're usually told not to take
the cash off the credit cards is because it hurts your credit score.
For some reason, when you start using your credit cards on their personal
credit, they usually lower your score. Because
they're like, "Oh, this person's using their credit cards." Even if you just use
them and you use 40 or 50 of the limit, they will
lower your credit score. But the great thing about the business
credit when i would take cash off those credit cards,
nothing happened to my credit score. Not even my business credit score.
They didn't seem to care and I could use that money to buy real estate.
And again, so can you. The next new thing that I did get even more business credit
and even more business funds is I opened up a paypal business account
and I opened up a square business account. And I would run
a few transactions through there. And then literally after 3 months,
both of those companies offered me over $100,000
in business funds that did not report on my business, on my personal
credit. They only reported on my business credit
and they were in my business's name with no personal guarantee.
That is how i got well over 2 million dollars just by using different
companies and setting up different business
account with companies that would lend me money.
Once I had all of the money, of course, I didn't just take it and buy
one house. So, even if I got $100,000 from Paypal. I
didn't just take that money and buy a house.
I still used a mortgage. But now, I had $100,000 as down
payments or to furnish the properties. So, instead of buying one house cash with
$100,000, I still use the mortgage. In the business
credit world, they didn't care that the down payment
was borrowed. That just was not a big deal. But in the personal credit world, if
you borrow your down payment, that is an absolute
no-no. But with hard money loans and thinking like a real estate investor,
it was totally above board. In fact, it was encouraged. And I was able to get way
more properties than I ever would have been able to get
using my personal credit and my personal name.
So, if you want to learn more and you feel like this is the beginning, I have
an entire course that i created for free just for you. Please go to
noellesfreetraining.com. It's an entire training that I made just
for you that breaks down my exact formula for investing in real estate
without losing money and without needing a lot of money.
Go there, check it out. It's absolutely free for you.
I just want to make sure that you are successful. This is Noelle,
to your success.