Fund And Grow Business Lines of Credit

[Jorge Ruiz]

Hello BP! So I recently saw a post from another member regarding Fund and Grow. Has anyone used them and if so how did it go. Sounds like a way to grow ones capital in order to turn it into purchasing power. Look forward to the responses. Best, Jorge

[Vamsi Boddu]

I am a new member to Bigger Pockets and just stumbled across this post. I know that this discussion is an old one but I guess it might help other Real Estate investors, so sharing my experience.

We heard about Fund and Grow from one of Clayton Morris's podcast. I reached out to them and they told me that they can secure our Credit Cards with 0% APR for 1 year, we thought it would be great if we could get credit line for 100k and use the money to acquire rental properties and payoff the loan within 1 year so we don't incur high interest rates.

The process has been very smooth so far, they charged us 3500$ (in Jan-2018) , the entire process took 2 months, for this fee you can actually submit 2 credit applications, I submitted one for me and my partner submitted another application for him. This week we received credit cards from different banks with different credit limits, we received a combined credit line of a little more than 100k. We will now go for balance transfer to pull cash out of these cards and purchase rental properties.So far, our experience with Fund and Grow has been great. We will most probably reach out to them in another 3-4 months to get a second round of funding. One more thing, they will go ahead with credit inquiry removal before we go for another round of funding and this service is included in the 3500$ we paid.

Just incase anyone is wondering, the credit history for me and my partner is good and we both had credit scores in the high 700's to low 800's. So, credit score plays a big role, definitely check with their team before you go ahead with paying the fees to ensure that they can give you an estimate on the amount you will receive as funding/credit limits. This is my very first post on Bigger pockets, hope this can help other investors, I will continue contributing on bigger pockets. Very impressed with how much information is on this site.