All Forum Posts by: John Terry Nicasio

 Hi Isaac, It depends on how you use it. It's always better to consult an accountant just to be sure.

 @Jay Hinrichs,

This statement is definitely not fair. First, the interest of the cards after the 0% intro rate is 8.99% - 14.99% not 21%. Secondly, I do not control how each client will handle their business credit cards, I'd like to think they will manage it properly and use it for each project repay the lines and then use it for another project. But it's up to them how they want to use it. Your assuming every american will just use the lines for whatever max it out and let themselves drown in debt. I would like to think that this is not the case specially with savvy and smart real estate investors. 

How am I responsible for helping them out when they use the lines irresponsibly? Certainly anyone can misuse the funds or loans given to them weather its in a form of a business credit card, a check book line of credit, a personal loan or any other form of loans.

 @Jay Hinrichs

I am trying to be respectful with all my replies to you. I see there is no point as your replies are aimed as personal attacks to me and my company. My aim is not to change your mind, like I said, I respect your opinion. We do not force anyone to go through our program. Everyone is welcome to do all their due diligence and decide if our program is for them. Certainly it's not for everyone. 

Each client that goes through our program uses our business lines of credit for their real estate projects or flips and pays back the lines and re uses it. It's up to each client how they manage their business credit cards. It's no different from a check book line of credit. If you manage it properly, then it's a good source of funding but if you manage it poorly, it can cause problems. It doesn't matter if it's in the form of a business credit card or a check book line of credit. And you are assuming that the cards interest rate will be 21% which is not true. After the 0% introductory period the interest rate for the business cards will be around 8.99% - 14.99% no where near 21%. 

I hope we do not turn this in to a useless argument. As Bigger Pockets is not meant to be an argument forum. You've said your piece and it's clear how you feel about our program. I think we've both mentioned our points and everyone will just have to decide if our program is for them or not. If they have other forms of financing that has better terms then I'm all for it.

And by the way I don't make my living helping others process credit card accounts. This is only a small part of my business. I'm an active real estate investor myself. I do hard money lending and private lending here in Southern California and I do a lot of joint ventures on other states as well. Please do not assume things.

 @Jay Hinrichs: 

You are certainly entitled to your opinion. And I respect your point view. But since you asked:

Here are 9 reasons why clients should work with Synergistic Investments:

1. There are 5 major underwriting houses in the US that underwrite over 10,000 different lenders. If you submit applications to 5 different banks that are underwritten by the same house, you will only end up with one approval, and several wasted inquiries on your credit report.

As a result, you won’t be able to get approvals from other banks for unsecured credit for at least 12 months, due to the number of inquiries you have obtained.

Synergistic Investments knows which banks to apply to depending on what state you’re in, which banks pull from what credit bureau and which underwriting house a certain bank uses.

2. Does the client know which banks offer business credit cards that report only to the business credit bureaus? There are thousands of business credit card products, and many of them report to the personal credit bureaus. The banks you apply to will not tell you if their business credit cards report personally or not.

Synergistic Investments already has established relationships with lenders that report ONLY to the business credit bureaus.

3. Does the client know which Credit Bureau each lender is going to pull from? If you send out applications to 5 different banks that all pull from the same credit bureau, it is likely that most of your applications will be denied because of too many recent inquiries.

Synergistic Investments tracks where each lender pulls credit from, so that we can spread the inquiries between the three credit bureaus and get maximum approvals.

4. Do you know which banks to submit applications to first?

We track which banks are more sensitive to credit inquiries than others. There is a specific order that we submit our lending applications to get the best results.

5. Some lenders require existing relationships before approving you for a business credit card. If you do not know which banks require existing relationships, you will waste an inquiry on your credit report, without an approval.

Since Synergistic Investments already has established relationships with lenders, we can maximize your chances of approval.

6. We guarantee that all accounts approved in our program will come with a 0% introductory period for 6-12 months.

7. Synergistic Investments tracks each lender’s requirements, where they pull inquiries from, and who they are underwritten by so we can get maximum approvals for each client, as quickly as possible.

8. Synergistic Investments obtains over $5,000,000 a month in unsecured business credit approvals. This is what we specialize in.

9. Once approved, we will also send you a list of techniques that past clients have utilized to draw funds that they can use the same as cash (without paying high cash advance fees). This will allow you to utilize the accounts in a similar manner to a checkbook line of credit.

@Jay Hinrichs,

You are right and I agree with you. For a start up company or a newbie real estate investor, it’s usually hard to obtain funding and capital for your business. Statistically, 4 out of 5 new businesses fail after the first year. That’s why most lenders or banks view the process of funding for small business owners as very high risk. Consequently, a newcomer to any sector of the market will have a hard time getting approved for loans.

Most new business owners try to look for checkbook lines of credit or SBA loans. While these are valid choices, the problem with these types of loans is that they require an excellent personal credit score usually within 760 and above, as well as an established business with good cash flow every month. So if you’re a new business, even when you have an excellent credit score you will still not qualify.

Some small business owners resort to trying to get personal loans, but these loans typically look at debt to income ratio. And since most small business owners are self-employed and don’t have personal income and tax documents to support this requirement, they usually don’t qualify as well.

What can you do instead?

One of the most overlooked sources of funding for small business owners are business credit cards. While you still need to have good credit to get approved, they’re not as strict as traditional checkbook credit lines.

Additionally, this option doesn't have a debt to income ratio requirement so small business owners can still qualify even if their income isn't that high. Another advantage is that these business credit cards often have 0% APR for the first 6-12 months (if you know where to apply) as opposed to checkbook lines that charge interest from day one.

One might argue that these business credit cards can’t be used the same as cash; this simply isn’t the case. The fact is, there are a lot of ways to draw money from these accounts that aren’t known to most people. One simple example is that these cards, when handled properly, can provide checkbook balance transfer checks, with often 0% interest for 18 months that you can use the same as cash. As suppose to check book credit lines that charges you interest the first day you draw from it.

Usually, you can only apply for one or two of these type of cards at a time because banks will see the inquiries and applications. However, a good way to get around this is by applying for multiple cards at the same time. When done right, the entrepreneur can get business lines of credit totaling to up to $150,000.

Just because your a newbie doesn't mean you cannot be creative and find alternative ways of funding. I did this method myself several years ago and I've had a lot of success with it. I know purchase bulk properties and NPNs. I will be more than happy to provide reference with other investors that went through our program and is now very successful to those who are interested.

I explain it more in details in my blog:

http://www.fundinganllc.com/2014/09/24/the-most-ov...

 HI Chris,

My name is John Terry Nicasio, I'm one of the managing members of Synergistic Investments which owns Funfinganllc.com, we'll be more than happy to provide references of investors and affiliates that we've funded to those who are interested in our funding program.

 Hi Joel,

My name is John Terry Nicasio, I'm one of the managing members of Synergistic Investments which own fundinganllc.com

We do not charge any upfront fees whatsoever. We only bill the client our one time success fee once they get their business lines of credit and they can pay using their lines.

Regards,

John 

 Hi Tom,

I checked our data base and I don't see any application from Jose Diaz. However we are always open on providing references of our past clients and affiliates that we've funded for those who are interested in our business lines of credit.

 We do not charge any upfront fees. We will only bill the client our fee once they have their business credit lines and they can use their lines to pay for it.

The points charged is a one time success fee. Once you have your business lines of credit, we will bill you and you can pay using your credit lines. After that you can use and re use your lines without incurring any other fees.

-John