You know, if you want to be a real estate investor, you're always looking for the best
angle and the best way of doing it, the most intelligent way.
Today in this video, I wan to talk about how you can actually fund your rehab for free.
Because if you're doing the deal, there's going to be some cost.
How do you actually get out of paying interest on any of that.
And I've got special guest.
Mike Banks.
He's flown in town to produce this special video just for you.
Now Mike, he's a member of my personal wealth team.
What Mike does is he specializes in something most people don't even know exists.
It's called business credit.
Not personal credit, not personal lines of credit.
We're talking about a type of money that doesn't even show up on your personal credit.
So, it's money most of you don't even know about and it's how you can get your hands
on a quarter million dollars.
So whether your rehab is 2,000 or $20,000.
Or even if you needed to buy the house cash, there's even a way to do it at a zero cost.
So, dude Mike, welcome.
How you're doing man?
Doing great.
Thanks for having me.
Dude, so glad to have you here.
Listen, you had been in the game of the last 7 years and you've funded hundreds and millions
of dollars?
Over 450 million.
So, 450 million.
For people like you.
In fact, how I met Mike was a fellow YouTuber was out there making a video with Mike and
he was getting all this clients like all this business credit that I hadn't even heard about
to do all these deals and yeah, my jealousy factor like "Boom!"
Went like...
Dude, that's it.
My people need this too.
So after taking time...
In fact, we met for the first time a year before.
And what we're going to talking about today is it's not just how do you fund your rehab
for free.
It could be funding your entire project for free.
Real estate cost money and there's always a cost when you use money.
And that cost can be 20%.
It can be 15%, it can be 12% or it could be nothing.
So today, we're going to talk about how could it be nothing.
Basics.
Business credits.
Most of don't even know what it is.
What is business credit?
So, business credit is credit that you establish that does not report to your personal credit
report.
So, it's reporting to the tax I.D. of the business and that's a big deal.
Now, tax I.D. for some of our viewers are like, "What are you talking about?
You just lost me."
Every business, when it's organized, at least in america with the IRS.
Just like you have a personal social security number.
Your business has ones too.
But it has a different name.
It's called the tax I.D. number.
T-I-N or TIN number.
And what ends up happening is when you set up your business account, which we'll show
you how to do it shortly.
Then what'll end up happening is you talk to the IRS and then boom, they assign you
for your business.
Your social security number.
Or in other word, your business's tax ID number.
And if you have those 2 things, even if it's a brand new fresh business, they can apply
and get this?
Yes, absolutely.
So even brand new, fresh business and already in the first year...
How much money your people getting on average.
On average between 150 to 250 thousand.
150 to 250 thousand is enough to fund more than just the project.
But there's going to be a cost to the money after a while.
Most of the time, you guys are actually getting the money for the first time 1 or 2 years.
Actually 0%, right?
Right, exactly.
Tell us something about that.
Okay, so each offer comes with zero interest anywhere from 6, 9, 12 all the way to 21 months
long as zero interest.
And we apply for multiple rounds for our clients over 12-month membership.
So that your able to extend that zero interest period.
But there's not everything you can buy with a business line of credit or a business credit
card.
I mean, like could I actually buy an entire house and have zero interest on it?
Yeah, absolutely.
But dude, you can't like...
It's like, "Hey, I want to make a $200,000 purchase on my credit cards, slap it down."
What do you actually do to make that happen?
So, there's no credit card machine you know, at the house.
So what you do is you use one of these vendors that we worked with to cash the card out to
send a check from a card to the closing company, the title company where you're going to be
purchasing the property with.
They can put the fund in into...
So, you basically have partners that know how to extract that off of the credit card.
So I mean, obviously if I was funding rehab and I go to home depot, swipe and boom...
And I don't necessary have to have interest on that.
But You're actually talking about that there are ways to actually buy an entire house with
this business line of credit.
Buying the house or just covering the rehab.
Either way, if you're dealing with the contractor who doesn't accept credit card then you're
going to need to come out with cash and the way to do that is to send the check from the
credit card using the vender that we have.
Now, I'm going to pause for a moment.
I really want you to understand what I am about to say.
I do a lot of my deals with my partners.
I love my partners and I give half of the profits to my partners and I do all the work.
They put up the money and it's a really good scenario.
But there are times when I am doing a deal when I have reasons why I actually don't want
to give the equity way.
I've got deals where I don't give that away.
And business credit really is the perfect alternative.
Because you can get lines realistically between 100 and 300 thousand dollars.
That's enough to buy houses or fund multiple projects or multiple rehabs.
And you get to keep all that money.
And the interest is way lower than typical consumer lines, right?
I mean, consumer credit off and hovers that 16, 18, 21 percent.
But after you have a long stretch of zero percent and maybe you balance transferring
going from 0 to 0 to 0, if you ever did kick in normal interest which may eventually happen,
what kind of interest rates might people be seeing them.
On average, we're seeing between 7 and 16%.
Okay, what's the average then?
Well, that's the range.
On average, 12%.
So, 12% is a percent a month.
So if I was doing a deal and I was only going to be in it for like 3 months then that would
equate to a quarter of a percent per month.
In other words, like squat, diddly nothing.
Like that's cheap money compared to like hard money which can cause double or more.
And they got points to pay upfront.
So, this is actually very reasonable or very inexpensive money if it ever does get to a
point of interest rate.
Then you rehab's going to have a little bit of interest but not like hard money or not
the big tax of necessarily like a partnership.
So, there's some huge benefits to actually having business credit.
As I've looked into it and gotten in my own, I haven't found this advantages to actually
having business credit.
I have only found advantages.
It's just been more resources to do more.
What percentage of the 450 million that you've funded on last 7 years, would you say you're
clients are actually like real estate investors using this for real estate?
I have to say that over 80%.
Wow, so this is like the vast majority.
And I can see this is...
Listen, if you're new to real estate, you need to listen carefully to what's being said
because there's a link in the description where one phone call, they'll actually tell
you exactly what they can get you.
And then what they can you over the course of the year.
I think that's worth of phone call.
I think that's worth knowing about.
Mike is also one of my wealth partners.
And wherever I bring my partners on the channel , I also have a financial and set of in game
for actually having this part of my wealth team.
I am teaching you how to build your wealth team.
You don't want to put this exact thing in place.
You want realtors where you have a mutual advantage and you're better off working together
and loan officers and some of this different things.
Mike, of anyone in credit business game that's out there, there's a reason why he's my partner
versus anyone else, hands down.
That is because the integrity, the way they take care of their clients.
And dude, when you guys email or call...
Like, I got to be honest.
They're little annoying.
They're too on the ball, they're little too on their game.If I could just say.
I'm like, "Dude, I am here in the event."
Jason is like...
Text me, is like, "Hey, I need this next thing."
I'm like, "Arghh, okay."
Like, I mean this is good stuff, right?
We're doing it all for you.
It's refreshing to work with someone that is just.
you know...
They're on their A game.
So listen, if you're out there trying to figure how do I fund that rehab, I got this deal
coming up or how do I fund the deal?
1, this is a new way of funding.
And 2, there doesn't necessarily have to be a cost.
And 3, if it does get to a cost, this is cheap, cheap money compared to a lot of the money
that is out there.
Those are 1, 2, 3 big benefits for us making this video for you today.
I want to thank you for watching.
Mike, I want to thank you for being here.
For helping produce and share your valuable insights.
And dude, thank you for the free consultation.
It's refreshing because I want to give my people every unfair advantage that possibly
can.
Ball is now in your court.
If you think anytime in the next 5 years, you're going to do a real estate deal, then
you need to make the phone call.
When?
Now.
You got the link in the description.
Get yourself set up prepared.
Because by the way, the student that is prepared, when the deal comes, they can take action.
And it's time for you to do the same right now.