Limitless Lyfestyles funding for newbie investors?

[Cordia Simon]

Hi All! Newbie Investor here👋 Myself and a few family members started our REI company back in April. We've yet to get a property under contract since we're in the process of securing funding.

Has anyone used Limitless Lyfestyles for funding? Essentially, they work directly with credit card underwriters to get up to 30k to 60k worth of business line of credit. Their website is as follows:

http://limitlesslyfestyles.com/

I'm trying to do my due diligence to ensure we're not getting in over our heads. Any advice on this type of funding and any other "creative" funding for newbies are more than welcome. Thanks!

[Tom S.]

@Cordia Simon  The posts I saw out there about programs like that is that it does work, but it's also something you can do yourself with out the fees, especially if you have great credit.  

The tricky part with these programs is that it will initially pull against your personal credit (so you'll have hard inquiries) although the credit line won't report.  The 0% is an introductory offer so you have to address that.  It's hard to get the money as cash.  And finally there's a lot of moving parts, since for an average house you're going to use a lot of different cards.

Personally I've been going to banks for years and getting commercial loans. No moving parts, purchase + rehab funding all in one loan, and doesn't report on my personal credit.  Look for small local banks that will hold the loans in-house.  Again, that's been my experience but a good one.