All Forum Posts by: Amanda Herr

I would go with an actual office (More likely bank would favor a true office not a home office, po box, virtual, or etc.). Last two months I found an office down in Stillwater, MN for $250 month to month lease and it is 300 sq feet.

In order to find your paydex score, you have to pay a small fee with DnB to take a peak of your credit profile. Your paydex score needs to be 80 or above. How to maintain is keep purchasing from those vender, trade lines that you created 1 or 2 times per month, and pay on time. If you forget to use those trade lines then you score will go down. It's similar to your personal credit.

If you have bad credits, there is a way you can get a business line of credit but it's very lengthy. It takes about 12 months or more to get that BLOC.

Of course! You still need your personal credit to help support your Business line of credit. That's why you need to form properly and separate each other.

You need your 700+ personal credit to get tradelines, paydex, and BLOC from the bank. Dun&Brad is a credit bureau for your Corp. with all the trade line and paydex that you opened. Must have an 80+ score for your BLOC. Banks look at both personal and business. When you have a AAA+ with your 30-40 page business plan, bank will give a BLOC. Make sure you pay them back to increase your BLOC.

This is much better using your personal credit cards to invest real estate.

Why don't just form a corp. and open a business line of credit. We need to start to stay away from our personal credit, it will jeopardize our credits.

I learned the hard way by ruining my own credit. PM Me.

Don't forget that your business needs 5 tradelines and paydex just like personal credits.

What are tradelines? (Must pay the company tradeline debts on time to get a business credit from D&B. Score must be 80+ to qualify for a BLOC.)

a. Uline
b. Dell
c. Office Max
d. Walmart
e. UPS/Fedex.

You just tell them that you want to open a business account for your company.

What is paydex? (Your Company must have its own credit cards just like a human). It's like you're creating a live person.

a. Gas Card
b. Visa
c. Amex
d. Discover

Must pay on time.

Also bank and D&B does not like home address or cell phone. You must have a real office, business phone, business email, and business website. Your business phone must be listed with 411 not your cell phone.

Later on D&B will call you for a interview to make sure it is a real company. If you don't answer in your company name, you are doom. Then you have to start all over with a new company name.

Must create a Business Plan to prove bank that you are a good business person so they can give you BLOC for $100,000-2 mil and etc.

Any questions PM me.

You must Know how to form a proper corporate that had 5 tradelines, pay dex, and must be reported to D&B to maintain a 80 Business Credit. Business has its own credit score just like your personal credit score.

You must run your business out of home. Need to have a professional office, website, email, phone no. that matches your business name.

Bank and Dun and Brad do not like home based business. If you operate your RE Investment business from your home, chances are you will not qualify for a BLOC, you will only qualify for a personal line of credit with your business name.

There is a lot more into it. Not trying to advertise or selling but PM me.

Thanks,

Aherr

Make sure your Company name is listed with the D&B, have at least 6 tradelines, your Business name credit score should be 80. There is more to than submitting a business plan proposal. The name of your company must name correctly otherwise the bank will not lend you any money for your investments.

PM me if you have any questions.

Hi Professional Investors!

I know this are silly questions, I would like to know if any of you would do private lending? My husband and I would like to invest some properties or cash the properties which we would buy, hold and sell when economy gets better.

This is a new adventure for us. We do have some investment properties but we were not pros back then nor today. We're still learning. We found some wholesales rehab duplex properties in the Twin Cities in MN. I just like to know who would do private lending with us. If you have any great ideas pm me.

The duplex prices are range from $20,000-$80,000.

Thanks to all the real estate investors. :lol:

I know this is a dumb question. I just want to know anyone who's from Minnesota is starting a Loss Mitigation Counselor (not a non-profit)? Is it legal in Minnesota. Do we need a license to operate the business? I came across with this website

http://www.state.mn.us/portal/mn/jsp/content.do?contentid=536917222&contenttype=EDITORIAL&agency=Commerce

I understand in MN Loan Mod. can't collect up front fee and must have loan broker license. I don't know if it's the same term with Loss Mitigation Consultant.

It's not even Robert Kiyosaki. Mr. Russ Whitney is using RK to market his real estate investment classes. I learned some view things but alot of advertising about Russ Whitney's product.

It breaks my heart that RK is not the one who is sharing his real estate, it's RW. I am not going to prevent anyone not to go to the basic course that cost $495 but just don't over spend for the advance course which cost from $5,000 to $65,000. I learned that you can call your credit card to increase the credit limit and call the another credit card from www.opmcards.com to get those 0% cards and transfer them back and forth so you don't have to pay when you are short of $$$.

RK's game is fun. Again, I'm not preventing anyone to go. RW, Donald Trump, Robert Allen they use all the technique to lure customers to take their next courses.

want more info. check www.ripoffreport.com and type Robert Kiyosaki and Russ Whitney.

See ya,

Aherr.