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To tie in with the post MJ made about being a prepared to seize opportunities that come your way, I thought about an area i dont see discussed much but is very important.
In starting a business(real estate included) most people bootstrap using their own finances & credit. However on my path i always wondered how I could purchase things & have unsecured lines of credit in my companies name, instead of my personal. Over on another board, a guru charges over $500/1000 dollars a chair to teach you how to obtain lines of credit from banks...
After some research, I was able to obtain in a short amount of time over $50K of unsecured credit lines to tap in case opportunities pop up. All of the lines are in my corporations name. None of those lines of credit appear on my credit reports, which will not lower your score due to high debt to income ratio.
Others who have business lines of credit or those that need it lets share on this topic.
In starting a business(real estate included) most people bootstrap using their own finances & credit. However on my path i always wondered how I could purchase things & have unsecured lines of credit in my companies name, instead of my personal. Over on another board, a guru charges over $500/1000 dollars a chair to teach you how to obtain lines of credit from banks...
After some research, I was able to obtain in a short amount of time over $50K of unsecured credit lines to tap in case opportunities pop up. All of the lines are in my corporations name. None of those lines of credit appear on my credit reports, which will not lower your score due to high debt to income ratio.
Others who have business lines of credit or those that need it lets share on this topic.
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