When I first started my business, I did not have very much money. I just had an idea and the desire to get out of the “Rat Race.” Tired of working for someone else, I remember sitting alone on my lunch breaks, staring out the window, saying to myself “One day I’ll be free.”
Ever have that feeling of knowing you were destined for more? Well, that feeling was keeping me up at night and I couldn’t take it anymore. I had recently read “Rich Dad, Poor Dad” and “Think and Grow Rich” and the desire of wanting more out of my life was finally (slightly) greater than the fear of failing on my own.
I opened up my own business. I decided to invest in real estate. I wanted to buy foreclosed, beat up properties, fix them up and make a killing flipping them. Little did I know that not having any money to invest would almost cause my new “company” to fail. I thought I could just find the deals and the money would follow! Boy, was I wrong.
To get into my first deal, I used most of my personal credit cards. As a way to market and advertise that I was an Investor, who bought beat up properties I used even more personal credit. I eventually killed my personal credit score by maxing out my credit cards.
— Enter Business Credit —
I knew that I needed to find a new method to fund my business and as a result of seeking a better solution, I found Business Credit. The best part was that Business Credit does not show on your personal credit report. So I could max out my business credit cards and lines of credit (temporarily) and still appear virtually debt free!
I quickly ramped up my marketing and even ran radio ads thanks to this new found capital and as a result my business exploded. Its over 10 years later and I own many properties, flipped more than I can remember and recently bought my first apartment building.
None of this would have been possible without business credit!