Building Business Credit: $0 to $2.5 Million In 9 Months
Building Business Credit: $0 to $2.5 Million In 9 Months
Let’s talk about Building Business Credit! We have Mr. Melvin Johnson from Maaj Group to talk about how he went from $0 in business credit to $2,500,000 in business credit all in 9 months. He’s going to share the DOs and DONTs in building business credit, what are the main differences between personal credit versus business credit.
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Melvin Johnson is a business credit expert with Maaj Capital. He is a real estate investor as well. Melvin was able to acquire 6 rental units (doors) working with the Kwak Brothers.
1. What is the main difference between Personal Credit Vs. Business Credit
Personal credit is tied to your social security number and tends to grow slower. It’s not meant to bear the same load as business credit. Business Credit tends to grow faster, the utilization rate doesn’t matter as much, and businesses are meant to use a lot of credit. Unlike the personal credit side, you get penalized for using a lot of credit.
2. So how did you first get started in this?
In the beginning, Melvin networked with a lot of lending institutions and building relationships. He had an epiphany where he learned that you can acquire secured lines of credit using other people’s credit and money without having to sacrifice the money. You can potentially get up to 5x the amount of credit with business credit versus personal credit with the method that Melvin learned to go from $0 to $2.5m Million of Business Credit In just 9 months.
3. So how did Melvin Build his Business Credit to $2.5 million in Business Credt?
The first step is to find a high profile lender/partner with at least $50,000 with good credit. Then you set up an LLC/Entity with that partner, obtain a secured line of credit from the bank using the $50,000 as proof of funding to start a secured line of credit.
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The Kwak Brothers are millennial real estate investors who have acquired over 82 Units of Rental Units and have raised over $20,000,000 of capital for their real estate deals. They are based out of the Chicago-land area and they are dedicated to helping hard-working people become financially free real estate investors! They specialize in owner financing acquisition and raising capital. They are the creator of the FORCE Strategy (Find the deal, Owner Finance It, Raise the Capital, Cashflow It, and Expand your Financial Freedom)
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—DISCLAIMER— The suggestions, advice, and/or opinions that are given by Sam Kwak (The Kwak Brothers) are simply opinions. There are no guarantees of set outcomes. Listeners, guests, and attendees are advised to always consult with attorneys, accountants, and other licensed professionals when doing a real estate investment transaction. Listeners, guests, and attendees are to hold Sam Kwak, Novo Elite, Inc. and the Kwak Brothers brand harmless from any liabilities and claims. Not all deals will guarantee any profit or benefits. Listeners, guests, and attendees are to view and listen to all materials and contents furnished by the Kwak Brothers as a perspective based upon experience.
So happy I met @Darkphate1 on Telegram he saved my life after being duped on this platform so many times he got my cards delivered to me with great balance on it…So I’m so proud of him and vouch for him..
Yea just have a credit score of 750
This man feed some game that we are still digesting 👏🏾👏🏾
I found a legit plug @Darkphate1 on telegram out to you bruh man hook me up with some valid cc with high balance.
No something I would do
I am looking for the exact company he used. I heard him say "a friend" and "a bank", but who is it? Where can I go to put down $50K cash(which we have), for us to get $250K in business credit? Thanks for this great information!
So you telling me, if I got 50k and a 690 credit score, I can go to any bank and get a 150k line of business credit??? Wtffffffff
He is one in a million, best among many, most trusted , I almost gave up on trading then I met him through a friend, Austin is the most trusted trading expert who helped the life of my family and I ,.
Download the FREE Business Credit Building Checklist RIGHT HERE: https://www.biggerbusinesscredit.com/checklist
Is it harder to get credit cards, lines of credit and fund for a sole proprietorship? Vs an LLC is easier even though your the only employee in either situation?
Also is getting a DBA necessary for a small business?
I appreciate the video, but I’m lost. At one point I thought he was talking about MLM. I need a recap of the recap. Melvin is obvious a very smart guy. I still liked and subscribed.
What bank is this?
I know on youtube, you guys really exxagerate…alot so if it is true can you give us a list of the 10 banks that leverage your deposite….
Okay I do real estate investing, and i watched this video 3 times trying to pull a piece of actionable information out of it… Is he saying that he got approved to buy 2.5 million worth of real estate at 8% because of his $50,000 because getting access to 5 million worth of funding is pretty easy from a lender at 8% if you have experience flipping houses… and enough money for the down 10% down payment
Who the fuk has $50,000 dollars to open a secure credit account?
I found a legit plug @Darkphate1 on telegram out to you bruh man hook me up with some valid cc with high balance.
My question is if I have $50k and put it into a bank should I try to get funding from that bank?
Hi guys. I think I missed It. How exactly do you use the $50k to get $500k line of credit. Is there a particular bank you used. Or what is the program called.
Thank you
Need help building business credit and funding
What bank did you use to secure the loan with 50k?
which bank will be ideal first choice to open a business account with secured line of credit? once I build up a business credit Do I keep that business credit background as a business person to leverage another type of business or I will have start from scratch for a new business with different niche?
What bank allowed a secured line of credit with the $50,000 of your own money that allows you to use up to $500,000? I have been looking but can’t find a bank that does this?
Is this strategy effective in today’s climate?
Melvin Johnson got the most beautiful skin
Who did he say he build a connection with 3:24 ?
ADA Lender Program or a lenders program?
Hi, do you have a list of the names of the banks that offer this line of credit?
how often can I apply for business credit? i only have one and I would like some more credit cards thank you
Can you use the business credit to pay personal debt?
What bank/insitution does a 50k in reserves for 500 loc ?
Do you have a master class training that actually cover the following: tier 1, tier 2 and tier 3 levels of trade lines? Also PG’s and their role in building? The 5/24 rule? If not this was a total waste of time and very insulting, why create a channel and make fluff?? No real I information here at all, just two guys talking. Crazy.
the 50,000 $ to put as collateral for the bank is to be in the personal checking account or business account
step 1. find some one rich already and borrow $50k
Big takeaway here, you should get at least two loans and you can use one to pay on the other and obtain larger sums
What are the liability for the partner with the $50k and good credit once the credit line is established?
Basically what is the worst-case scenario, if the deal goes south?
Dope!!!
Anything is obtainable, Thank you Brothers 🙏🏾🙏🏾
Is there a better bank to build business credit with to take out a business line of credit with to buy real estate? I’m with Chase now but should I be somewhere else?
So happy I met @Darkphate1 on Telegram he saved my life after being duped on this platform so many times he got my cards delivered to me with great balance on it…So I’m so proud of him and vouch for him..
I grew up with Melvin that’s my mans
Herickcard on telegram will always be my plug
He’s a legitimate person .
more people need to see this, I will bring this message to the world.
Soooo you used 50k to get a 2.5m business line of credit….
Love the info it’s going to be a great help. I have a question for Mr. Melvin Johnson. Are you a Jr.? I went to school back in the 70’s with a Melvin Johnson in Newark New Jersey, Just curious. Thanks. Keep the videos coming.
I found a legit plug @Darkphate1 on telegram out to you bruh man hook me up with some valid cc with high balance.
God bless You Guys 😇⚡⚡⚡⚡⚡⚡⚡⚡⚡
How to get $400-500K in a UNsecured LOC or business loan.
1. Deposit 50K 2-3 times a week in your business bank account for 4 weeks every month
2. Do that for 12 months
3. Get a Business bank statement loan or LOC for $400-500K
4. Have atleast $200K in business credit cards to take off and shift around to cover loan/loc.
BONUS: Fix & Flip a home ($100K) to have $200K in equity (ARV). Take money out and refinance to do other things.. or just sell the home.
So I’m clear on this. Step 1. Find someone with money..
Wish I had 2.5 million to start a couple businesses
Secured credit means you have the entire credit line “secured” in cash. You can’t put down 50k and get 500k in credit that’s only 10% it’s hardly secured. There are some partial secured credit lines out there but nothing that will 10x it. I’m confused on how that is possible
Hello, you gave such a great info. But I really would like to know what is the name of the bank that gave you the opportunity to obtain this amount of line of credit. I’ve been going to a lot of banks and they told me that for me to be able to get a line of credit my business has to be set for at least 2 years and have a business account of 6 months with them.
I really appreciate you answer me back and help in any way.
Thanks in advance