Ep 137 - Need Money to Make Money? We Got $100K at 0% Doing This!

Hey, everybody. Flip and Danny here, founders of the Freedom Real Estate Group family of companies. And welcome to another episode of our.

Podcast called Freedom through Passive Income.

Correct.

And he did that because last episode, he forgot the word called.

And I'm like, I've seen a few paying attention. So used to the intro, changing things up. Welcome to another episode. This episode is called Need Money to Make money. We got $100,000 at zero percent doing this.

Yes. I am super excited.

What is this?

Yeah, I'm super excited to share this because it's something we totally forgot about because we did it so long ago.

Well, then. And Covid hit.

Oh, yeah.

Covid kind of wiped everybody's memory.

So there's companies out there, and we're going to talk about the one that we did it with because we've got the personal experience with them to share with you. But there's companies out there that will build your business credit. So it doesn't affect your personal credit score. It doesn't affect your personal credit. It's not even listed on your personal credit. So they'll establish a business for. You don't have to have a business right now to do it, but it's completely separate from you personally, and it's just professionally. And you can build your. You can get up to $250,000 with this particular company. Up to $250,000 at 0% interest. Now, every single, you know, program is a little bit different. When I think we did our first round, we probably got. I know they say on average, you'll get somewhere between 30 to 80. I think, on average, the very first round. I can't remember how much we got on the very first round.

50. The first round.

Okay. So they do rounds. And I don't. Maybe you talk about this, because I don't know if you remember, but you were the one actually handling.

I don't remember what I had for lunch yesterday. Back and hot. No, no. So, yeah, so this was about three years ago now. And so we heard about this program. I went through all the videos and watched everything and checked it and see if it's on the up and up and did all that. And so we decided to do it. And so they took both your and my credit and they put us together but kept us separate. So, like, there's cards that they had just in my name and cards that they had just in your name. And so what they would do is, on your behalf, they actually get credit cards from these major people. Capital One, Wells Fargo, bank of America, and those are just some of the ones I remember that we got. And so they do rounds. So they'll make an initial, like an initial cast of, you know, apply applications and whatever. Some come back declined. Right. But they don't care. They call up the credit card company to find out why it got declined. And actually two of the cards we got were declined, but then they got them approved. And so. And then they would get. Then they would get them approved. And one got approved for 5,000. And they said, don't worry, we're calling them back next week to increase that, you know, and. And then they would. These. They're like little credit ninja credit card. And so the first run that they did, I think it was. It was under 50. I think it was around 40. Okay. And so they were like, congratulations, we did this on the first trip on the first time. And this. This is really great, you know, And I'm like, okay, I don't know. Sure.

Okay.

Yay. I don't know what this means. And then they said that they would do another run in like three or four weeks or whatever. And so then the second run is just calling the. You know, there's some new applications that are going out, but this time it's really calling the ones that got approved or calling the ones that didn't get approved and figure out why they didn't get approved. Try to get them approved. Try to get money on them or the ones that did get approved. Get more money on those.

Yeah, increase the limits.

Increase the limits. Yeah. So one. I know it was approved originally for like $10,000. And on the second run, they went back and they got it. They got it increased and it increased to like $35,000. And so they know what they're doing. They know how to work with credit card companies. They know what the credit card companies want to hear.

Yeah, yeah, exactly. So why are we talking about this and why did we do it? It's because it's zero percent money, right? So whenever you can borrow money at a low interest rate, that's good debt, in my opinion. We're actually going to be doing a recording, a podcast about that here. It might be actually tomorrow's podcast, but that's good debt. That allows you to go and invest and build a business. It allows you, for investors, real estate investors. It allows you to go and get maybe rehab materials. You can literally purchase a house here in Ohio with a credit that we got because houses are so cheap, right? And we got like around $100,000 once we were all said Done with the rounds, but it goes up to $250,000. And the reason we didn't keep on increasing is because we were actually using the 0%. We were using it for our. I'm actually wearing this shirt. And I didn't do it on purpose. We were using it for rehab.

Yeah.

So we would go out and buy the materials and pay for things for the rehabs on these zero interest cards. So we kept using them, but then when we would pay them off right away, as soon as we got the money back, we would pay that card off, we'd do it again. And that also helped us build the credit lines more and more. But because we had those balances, there came a point where we couldn't do another round because we had.

Yeah, yeah. They look at your credit and they look at the balances of your cards, and if your cards are beyond the 35% capacity of your card, they won't even try. They won't even try. They don't even pick up the phone.

Yeah. So we took the time to get up to that around $100,000 mark, and we already had, I think another 70,000 anyway. But we took the time to get there and then we said, this is enough, and we started using, using, using, using, and we just didn't do another round. I was actually saying to flip the other day. I was like, hey, should we just pay all these off right now and just go do another round and get it all the way up to 250? I don't know that we need it, but it was just something that we talked about. But it's something that you can use. And that's why we titled the podcast Need Money to Make Money. Because sometimes you do need an influx of cash or credit to be able to go get and tap into the return that you're gonna be able to get. And it's just very common for real estate investors to have to use this. So.

And the zero percent, there was like a couple cards that are zero percent. That's just their zero percent. But there was a few of the cards that were 0% for six months or 0% for 12 months. So full transparency. Read the fine print of each card because each card is completely different.

Yeah, yeah. So there's a couple things. I know we're running out of time, so we're not going to go through everything. We had a couple questions that we would answer real quick, but there's some programs that they have, they'll do 12 months of unlimited coaching, one on one, unlimited coaching and credit building. There in this promotion that I printed out was a free secondary applicant. Up to $250,000 in funding. Completely done for you. You don't have to do anything, right?

Done for you. I did not do anything.

Yeah. Advanced credit consulting to optimize your credit portfolio. 50 to 100,000 in corporate credit. Corporate credit is different than business credit that we're talking about here. Corporate credit would be like you're going to pay for something and then 30 to 60 days you need to pay it off. But it has nothing to get to do with again your personal credit or even the business credit. I don't even think it's reported anything. How to creatively leverage your credit in unique ways. They do entity formation with your tax id, business incorporation and they also remove credit inquiries and teach you how to do that. So there's a few questions that we threw on here. I'll let you go ahead and answer the first one.

So if I choose a payment plan, does it slow down the process? Well, actually it does not at all. You can get started immediately with the full program. Even when using a payment plan.

Yeah. So what he's referring there to is I think we paid. I don't even know back then. I think it was around $3,000 back then, I can't remember. But right now I think it's $4,000 for you to sign up. But they have two programs. You can either pay that $4,000 and you have. There's a refund period of 60 days that if you don't get any credit then I think you get all of your money back except for a 4% processing, I think is what I read. So look into all this. We're not covering all the details here. We're just explaining what we did and how much it costs. And if you don't have $4,000 to pay up front, they have a program where you can only you can pay. I think like you start at a dollar and then you pay based on your approval. I can't remember how it goes, but there is a way to not pay the upfront fee. And you can just pay as you go based on how you get approved. So there is a cost to it. And we just wanted to let you know what that cost was as briefly as we could. How long does it take to get funded? It says on average most clients receive funding within the first 30 to 45 days. For performance based clients is 15 to 30 days. So I think it's the performance based clients that's the free Program that you pay a dollar and you go in again. I can't remember. Double check.

So is this membership a training course or will you actually do the work? And again it's totally done for you system. Their team handles everything start to finish with the exception of credit repair and removing the inquiries. All you have to do is wait for the cards to come in the mail. Fun and Grow will guide you through the inquiry removal or recommend a credit repair company to do the work for you. All right, so yeah we had a few that we needed to remove and so they told. They showed me how to do it.

Awesome. Will the business accounts report to my personal credit? I have a Capital One business card that does. They did say Capital One. To Discover are two business credit lenders who do report to personal credit. So the team is not going to use those particular cards unless you tell them it's okay. They have a bunch of other cards that don't report to the credit bureaus at all. And then I think we talked about. This is the one I was talking about the right.

Yeah. So they offer two types of memberships. Option one is the performance based program where you pay a dollar to sign up and pay 9% of all funding obtained. Option two is a 12 month membership where you obtain up to 50 to $250,000 and 0% interest funding through multiple rounds of funding. The 12 month option is a one time fee and you do not pay anything on the back end. The 12 month membership also gives you access to 12 months of one on one support access to the do it Yourself corporate credit program among other special perks.

Yeah, so there's a bunch of. We printed out an FAQ just to kind of help a couple answer some of the most common questions. There's a ton of stuff on the on the website but what Flip is going to do is he's going to put the link on the video for you to be able to see. We're going to put the links in the description of the video. There's going to be a few links. One's to learn more. One is to actually apply. One is to watch a webinar. Full disclosure. These are affiliate links. What does that mean? It means that if you click on these the cookies of the system track that we were the ones that told you about it. And so therefore if you get approved and if you start using the program we're going to get a small fee for telling you about it. So I just wanted full disclosure. It doesn't cost you anything extra. The company is just paying us by hey, thank you for sharing your experience and sharing it with others. And we're going to give you a small fee if anybody, you know, go clicks your link and uses it. So just want to be fully transparent about that. So we'll put the links in the description. Flippa will put one on the video here so that you can do it. For you podcast listeners, you're gonna have to go to the YouTube page and get the link. So yeah, yeah, you had me at cookies.

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All. Sam.