How To Get Up to 250K In Funds To Invest In Real Estate – Fund & Grow

We’re going to cover more on credit cards. As you know, real estate can be a great vehicle to achieve financial freedom, but for some of us who are getting started, getting the funds to invest in real estate can be a little challenging.

Rather than focusing on individual credit cards that you get to apply on your own, we’re going to focus today more on getting credit cards approved by the bulk, applying for them by the bulk, and getting large sums of money approved for you. So you can continue to apply for that money or use that money actually for the expansion of your real estate portfolio.

We have a great guest in today’s episode, and his name is Mike Banks. He is the chief operating officer of Fund&Grow. I will have him walk us through what the company does and his role, and how Fund&Grow can assist you in your real estate endeavors.

Mike: I’m honored to be here. Fund&Grow works with entrepreneurs, business owners, and real estate investors to set up business credit accounts that they can use for any expense within their business. It could be used for downright purchasing, cash deals, marketing expenses, and rehab costs. I know some landlords even pay their property managers. You might even use credit for that as well. We’ll dive deeper into how to do that, how can I use credit to purchase a property, how can I use credit to pay for these expenses that usually, you have to pay with cash. We talk a lot about that at Fund&Grow, and we teach a lot of our clients exactly how to use these credit lines as cash so they can make purchases on distressed homes, so they could pay contractors who don’t accept credit cards. We all work with a vendor, which is called Plastic. 

Plastic will facilitate sending a wire transfer to any vendor. They could send that to a closing company, property manager, contractor. You name it.

The great thing is you can buy a cash deal by sending that wire transfer directly to the closing agent to the title company. They put the money in Escrow, and you close on the property very quickly. We have a lot of clients doing that exact process. I interviewed a client, Matt More, about a month ago, and we had another client who just closed last week with one of our partners who sells TurnKey Rentals.

That’s what we do in a nutshell. We set up business credit accounts within the first 30 days. People usually get between 30,000 to 75,000. Those are just rough numbers. It depends on your credit score. Some people get over 100,000 within the first 30 days, but it slightly varies depending on your credit score and where you’re at with your credit cards and your credit history when you come into the program.

Lucelia: Basically, how would you say the experience is like from the minute they get in touch with Fund&Grow and sign up their application process? Can you walk them through what they can spec from the interaction with you guys?

Mike: Yes. Let’s say someone goes to one of our signup forms and wants more information. They wish to pre-qualify and see how much they can get with the program. We’ll call those people. We’ll go over their credit report. If they don’t have a credit report, we’ll just ask questions about their credit report and get a better idea of their history and the active accounts they have and all that. Then we’ll be able to give them a pre-qualification amount that they can expect to receive within the next 30 days. They’ll have that funding in hand, and they can do whatever they want with it.

After that initial call, many folks will then decide to move forward and then retain us and retain our services. We have a membership that they can choose to purchase or do a performance-based back-end option. That’s their choice. Now let me back up a little bit. When you sign up with us after you’ve been pre-qualified, now you’re deciding, “Do I want to buy the membership up-front, or do I want to do performance-based?” Once you choose that, you signed up now. Now you’re a client, and we’ll get on the phone with you and do another call with you, a more in-depth consultation review. We’ll go over your credit report, and we’ll go over the banks that we plan to target, we’ll go over everything with you.

If we’re going to set up an entity for you, we’ll discuss that as well because we do that for our clients. If clients don’t have an entity set up, we’ll handle that for you, and you won’t have to pay anything extra for that. You just have to pay the registration fee or the state filing fee if we’re going to set up an LLC.

On that initial consultation call, we’ll go over all that, and we’ll go over your credit, we’ll go over the amount that you’re going to receive, we’ll give you a real clear pre-qualification estimate. Interacting with our team, you’ll see that we care about our clients. We ensure that we follow up, stay in communication, answer calls, and provide a high-end service. Everything we do, we’re very integrity-driven, and that’s why we have such an excellent reputation. We have over 500 reviews on many platforms because of this high-end service because we’ve trained our team so well, and we’ve grown very quickly, but we’ve got a terrific group of people here who care about our clients.

Follow-up communication is always on point. You get your consultation done. Once your consultation is done, we do the credit review, we give you your pre-qualification amount, and then we move you to the applications phase. We submit applications. We follow up, speak with decision-makers, and have relationships with many of these lenders we work with because we’ve been in this business for over ten years. We do all the legwork. We apply, we get you approved to the largest amount possible because a lot of times– I know I keep talking, but I want to get this, there’s a lot of info, and I want to get it all out quickly as possible. When you apply on your own or even when we apply, the bank isn’t always going to approve right away. Sometimes they deny it in the beginning. Sometimes they approve for a small amount.

We’ve developed what we call the negotiation process. We’ve incentivized our team members to contact us at each bank. They’re negotiating. They’re going over each application one by one with a human being. That’s a big difference compared to submitting it through the online automated system, which will generate a computer response. Having it reviewed by a human being gets you the best results. That’s what we carry out.

I’ve seen people get approved for 10,000. After the negotiations process, they have 50,000 because of the increase, because of the denial’s overturns. Sometimes they’re denied. We get it overturned. That’s how it works in the beginning. You maybe opt-in, you give us your credit score, we call you, we do a call and introduce you to everything, give you the pre-qualification amount, and then you would sign up and then do another consult call, more in-depth credit review, the whole plan of action. We’ll give you a funding plan in a PDF form.

You’ll have a real clear idea of what’s going on with your credit, what needs to be updated if anything’s inaccurate. Sometimes your credit limits don’t report accurately. Sometimes they’ll show up as a zero. Then anytime you put a balance on that card, you’re over the balance. There are things like that. There’s also the months reviewed field on a credit report. Sometimes the months reviewed field doesn’t report correctly, which makes your credit score come down basically because of having– Let me try to explain this better. Let’s say you had an account open for ten years, but the month reviewed field is only showing ten months reviewed, but it’s been open for ten years. That will cause a remark to show up or a negative code to say you have too many new accounts.

That will affect your score, and it will bring your score down. These are some of the details that we’ll look for on your credit report when we go over it with a fine-tooth comb. We’ll give you the funding plan in a PDF form. You’ll have a plan of action. Whether you decide to stick with the program and move forward to applications, or you decide, “You know what? I want to wait,” or, “I want to do this on my own,” whatever the case is, then you can always exercise the 60-day refund period. If anyone signs up, they don’t get credit, or they can’t get credit or whatever, they have a 60-day refund period. That gives you an idea of the intake process, and then what happens after you’re qualified, and then how we handle the legwork on the back-end of getting the credit for you.

invest in real estate
Some people get over 100,000 within the first 30 days, but it slightly varies depending on your credit score.

Lucelia: I experienced your service firsthand. I heard from her about Fund&Grow last year, and I was very excited to get started to work with you. I was amazed at how professional the team was, the service, everything was on point, and follow-up. I think the part that I liked the most is the fact that you guys have a secure website [chuckles] because, with all the cyber attacks and the identity thefts, I was a little bit concerned at the beginning, but everything is uploaded through a secure portal. It’s very structured. You have calls scheduled on a specific day at a certain time to go over this and that. Then you send follow-up emails, and you get the forms filled out and stuff like that. It’s like a coaching program, so to speak, in a way to get the best possible out of what the program has to offer, which is to get the largest amount of credit lines approved as possible.

Mike: I would say it’s not exactly the coaching program. We are a service. We do all of this to work for our clients. We don’t just tell them how to do it, and then they go and do it. That is how other companies out there work. They will tell the client to call in and follow up and do all that legwork. We do all of it. While you’re going to receive coaching, you’re going to learn a lot through the program, and we’re still going to be the ones doing it all for you.

Lucelia: I saw a great value in that because I still work a full-time job. To me, that was a no-brainer. I know I could have just “taken the information and just do it myself,” but I was like, “You know what? It’s not even worth it. I work long hours, so if I can have somebody help me out and get this going, that would be greatly appreciated.” It was a very smooth process. I like how efficient you guys are. Funny enough, as I was recording through multiple episodes, I remember you guys. I’ll say, “You know what? Maybe I should just do an episode on Fund&Grow because everyone will find it highly beneficial.”

I’ve gotten great feedback from the episode on funding through credit cards and how you can leverage credit cards for your real estate investments, get it approved by the bulks and large sums, and go on to an LLC and not so much on your personal credit. I think that’s even more beneficial because you don’t want your credit to look like a roller coaster-like mine the next thing you know.

Mike: I didn’t even talk about that, but that’s a significant benefit to using business credit because it doesn’t show up on your personal credit report. I probably should have brought this up earlier because that’s one of the most significant, most attractive benefits of using business credit. Let’s say you buy a house for $60,000 or whatever. If you use personal credit, it will show up on your credit. If you use business credit, the balance that you carry will not count against your personal score.

That’s why it’s so attractive to business owners, investors because you could still have a high 800 score and have 50, 60, $100,000 in debt, but still have a high credit score and always be able to get loans and all those types of things because the debt that you’re carrying is on the business credit side. It doesn’t count against your personal credit the same way. That’s a big attractive benefit. Also, the accounts come with zero interest. Some of them are as short as six months, and then we have a personal offer that’s 21 months, and our highest business offer is 15 months so. It varies with each bank. You’re going to get some that are 12, one or two that’s six or nine, one that’s 15 if you qualify.

Then you’ll get that funding within the first 30 days of working with us. Then we repeat that process of applying and getting you funding. We repeat that process three times up to four times over the 12-month membership we worked with our clients. A lot of people get over 250,000 over those 12 months. On average, in the first 30 days, it’s usually like right around 30,000 to 75,000. 

Lucelia: Everything varies on a case-by-case basis, I suppose.

Mike: Everything we apply for, we only apply for zero-interest accounts. It is a case-by-case thing. Some people might have a more difficult time getting approved for the 15-month offer, but the thing is, we don’t apply for people unless we know they’re going to get approved.

Lucelia: Right. We talked this earlier that you have a qualification process because you want to make sure everyone is getting the best service and the highest approval rate possible. If you had someone who wouldn’t qualify, you wouldn’t typically want to waste their time and not even your time and the company because those resources can be allocated to other people who need the help.

Mike: We have a lot of clients who go through the program, get credit right away, and then we also have some clients who we will advise, “Hey, it’s best if we wait a couple of months,” or, “It’s best if we pay down a couple of grand so that we fall into that threshold the banks want to see.” In some cases, if a client has new accounts, I think this is precisely the scenario that you went through, Lucelia as a client. Our team advised that it would be best to wait before we apply.

Lucelia: In fact, I remember that happening because I just reached out to you guys in Fund&Grow weeks after I close my last yield, the 17 unit. My score looked like something like this. It was very still and suddenly like a bunch of increases. It was like a roller coaster. The accounts aren’t seasoned. Many credit cards were new, so there was not much to report on me other than a bunch of increases. Because I closed those deals and an LLC, there was no way to verify, “Okay. Well, this person does have the money to pay out these credit cards.” Time-wise, you guys advised me that it was best to simply wait and give it a couple of months to season. I appreciated that because I thought I would have to put up a fight and like, “Hey, give me my money back,” and stuff like that, but you guys were very professional. That’s why we’re here because they value that.

Mike: We don’t ever hold someone’s money hostage like that. We’ve dealt with many businesses, and we’ve had different experiences with the businesses that we’ve dealt with. Right? We want to deliver a service that is what everybody wants. It’s what they are trying to get. When they buy the thing, when they buy the Fund&Grow program, we want to deliver at a high end in a high level. That comes from just having integrity and caring, and delivering what we say. Having dealt with other businesses that maybe didn’t perform that well or some businesses performed well, we’ve taken those principles that we found over the years and instilled them in the Fund&Grow.

Honesty, transparency, integrity, care, that’s how we operate, and it makes things a lot easier. We can grow very much faster, so there are no complaints. We have nothing but positive raving reviews online.

Lucelia: I checked on all of them before reaching out to you because I was a little nervous, but it was all love and happiness. I was like, “Oh, my God. Is this true?”

Mike: You’ll see some of some reviews where people are like, “I got 25,000. I hoped I would get more, but it’s just my first round. We’re going to be applying again in a few months.” There are tons of happy clients. We have a very low refund rate, so 95% of our clients, sometimes more than that, but 95% of our clients stick with the program. Another interesting fact is a good 20-25% of clients who sign upstart with bad credit, but they know that we have that credit repair solution, and we can help them rebuild, repair their credit. In some cases, some clients need to wait for new accounts for each season, just like in your case.

We’ll advise people on that. On the consultation call, we will go over their credit report. We’re going to give you the exact plan. We’re not going to say, “Oh, you might qualify. Let’s just string you along a few more weeks, and hopefully, we’ll get past that 60 days and keep your money.” Not at all. It’s not what’s going on here because if we do that, we’ll have chargebacks, and we’ll have people going online and complaining and damaging our reputation. We don’t work like that. We care. We’ll advise everybody what’s the right thing to do. Based on our experience, we think we can get you 40,000 to 50,000 in the first 30 days, and over the next 12 months, X amount. We’ll be very upfront with you. You’ll see that working with us. We’re very upfront and open.

Lucelia: Right. Honesty is key. I appreciated that. I’m sure many of the readers when they get in touch with you, they’ll appreciate that. Just out of curiosity, I remember when I first call you guys, for those who apply for the membership, you had special lodgings or settings where if people travel to Florida, they’ll have a place to stay. Is that still on?

Mike: Yes. That is a nice little perk. It’s off-topic and It’s part of our newsletter program. If you stay in the newsletter for 12 months, you get a free seven-day vacation stay if you subscribe to the newsletter. We’ll book it for you. You don’t have to pay anything so we’ll do the whole thing for you. We have clients going all over the country and all different places. The newsletter program is like an informational newsletter with a lot of really high-level stuff. We put the newsletter together based on some of the practices we are following here at Fund&Grow. The way that we’re growing the business. The way that we’re getting up to 10 million a year. The way that we work together with affiliates. The way we do webinar presentations, and then much more than that too, though, not just what we do, but also like tax-saving articles and different business-building tips and just all kinds of stuff we cover in the newsletter, and it’s excellent stuff.

Lucelia: Thanks, Mike. That was very informative. Another question for those clients who already have the legal entity set up is an LLC, how do they go about it? Do you still set something new for them, do you use what they currently have, how does that work?

Mike: On the consultation call, we’re going to go over your existing business entity, we’re going to talk about the idea of setting up a new lendable entity if that’s a fit, but if you’ve already got an LLC or something set up, we most likely can just use that. Now, if you don’t have anything set up yet, we’ll set up a tax ID for you, and we’ll go as far as setting up an LLC for you as well so that you can have a limit of liability and run your cash flow through the LLC. It just depends on the client. If they have an existing entity, we can use that in most cases. If not, we’ll evaluate that on the consultation call.

We’ll let them know, “Hey, we can just set up a new tax ID for you,” which is going to be a sole proprietorship. We do that because it’s the easiest way to get your entity set up. You get a tax ID, and you’re able to set it up in business management or marketing and advertising. Those are two lendable industries. Again, this is only if someone doesn’t have any entity setup, this is how the process works, and we do this for tons of clients.

“I don’t have an entity set up.” We’ll set up a sole proprietorship, and the cool thing about that is you can actually– it asks you how many years of industry experience you have. You put in two, three, however many years that you’ve been in real estate, you just haven’t set up your entity yet. You’re able to show that when you set this sole proprietorship up, that you’ve been in the industry for one, two years, whatever. The cool thing is that it reports to your tax ID, the business credit reports to the tax ID. It doesn’t report to your social, so that’s the reason we need to set that up. That’s it.

Other than that, it’s all credit-based. They’re going to look at your credit regardless of the type of entity you have. If you apply with an LLC, C-Corp, S-Corp, or a sole proprietorship, it doesn’t matter because it’s still personally guaranteed. It sucks, but it is. They’re going to look at your personal credit. Greatly enough, though, it’s not going to report on your personal credit, so that’s how it works. The cool thing is, though, there’s no collateral, there’s no asset tied to it, so it’s not a secured loan. It’s an unsecured loan, and it’s just credit-based, and there’s no– you don’t have to provide a litany of documents, you don’t need verifications, you don’t need financials, all that stuff.

It’s a super easy application process mostly done through the computer, but we take it a step further, and we get on the phone and get that application reviewed by a human being, which brings in a lot more credit.

Lucelia: Right. That sounds great so thank you for sharing. I want to make one point clarifying, though, because they did have an episode on legal entities, and so the guest that I have on-site talked– she shared her views on sole proprietorships versus LLC. I wanted to clarify why there was a preference more towards LLC on my guests as I was because she was focused solely on real estate. If you were to hold a rental or any type of property real estate-related, you want to hold it in an LLC, but in this case, the reason why a sole proprietorship works more effectively was because of the reasons that Mike just shared. I wanted to make sure everyone is clear on that.

Mike: We’re not using the sole proprietorship as your main business entity. That’s only for people who don’t have an entity. We get that tax ID, and then we can get your business credit right away. We don’t have to wait two years for the LLC to season. If you’re doing business, holding rentals, definitely set up an LLC. We’ll do that for all of our clients, by the way. I have an attorney with who I’ve developed a relationship with, and he knows all about trusts and series LLCs and all that high-level stuff, but he’ll– his team will set up an LLC completely free for you. You just pay the registered agent. 

Lucelia: We did talk about that, the registered agent. Somebody sent me an email asking, “How do I go about setting one up,” so if you’re watching this episode, hey, you already have a team who’s willing to help you set it up all for free, all included in the package.

Mike: I didn’t even set my own up either, even though they say it’s so easy, but I do real estate on the side as well. Not entirely as experienced as you, but I’ve got a rental property, and I’ve done some wholesale deals sold to other investors, so I’ve just set up an LLC through the free LLC program.

Lucelia: That’s great. I guess in terms of experience, and it’s all relative. There other people who are doing a lot more deals than I am, but we’re here to just share our knowledge, share what we know, and hopefully help a lot of people who are tuning in right now. For those naysayers, because we do get those from time to time, “Hey, I don’t need this program. I can do it myself,” what would you say to them? How would you address their commentaries?

Mike: Well, I would say you can also learn how to do the closing paperwork when you buy real estate or when you buy a deal. You can either go to a closing company, pay the closing cost, they handle the paperwork. Some investors out there, maybe one out of a hundred, will do their closing paperwork to save the closing costs.

That’s a whole business right there. Someone owns a business that does that, and you’re trying to learn how to do it, so that’s just an example. All right? You could do it on your own. Anyone can apply for credit on their own. The point is that we have relationships at the bank that we’re able to bring in a lot more credit than the average person. The average person applies, they get a decision, and that’s the decision, and that’s it. Most people don’t realize the amount of extra funding you can get if you do more than just accept the decision.

I would say people can get good results on their own. It’s just it’s difficult. You’ve got to make sure you get in contact with an actual decision-maker, which could end up leaving you sitting on hold for 30 minutes only to get routed back to the original customer service line.

Lucelia: It has happened to me.

Mike: It’s a pain in the butt. Our team is monetarily incentivized to get the largest credit line approved. They get paid commissions based on that, and these people are ex-bankers. They used to work at Chase, some of them used to work in the insurance industry, whatever. My point is these are professionals who are communicating with our contacts with who we have relationships we speak every day. We do eight to ten million every month in new credit that we originate, so let’s say we have roughly 200 new clients that sign up with us every month, 200 new clients that pay anywhere from $3,500 to $4,000.

Now, if you guys are interested in this, you could do it on your own, or you can go and go to the link and register, and there’ll be a video. Then also, we’ll give you a call and let you know how much you pre-qualify for, but after you register, you’ll be able to watch a video, and then you’ll get access to the webinar. In the webinar, Lucelia and I will go over the entire process, break down the whole thing so that after watching that webinar, you know exactly what we do, and you can go and do it on your own. Again, time is money, and if you work with a professional, you get the best results.

I wouldn’t want to change the motor in my BMW if it blew, I would have to pay the $5,000 to the mechanic which by the way, I was just told recently that my motor was blown, and then I brought it to another shop, and they told me that it just sparked plugs. This other shop tried to rip me off for like 15 grand. 

You want to always deal with the true professionals, and that’s what we do. We’ve been here for ten years. We’ve done over 500 million. We’re here to help people. We have over 500 reviews online. We’re on the Inc. 5000 list for the last three years in a row growing steadily.

Lucelia: Yes, Mike, so definitely time is money, and hey if you guys are doing all the heavy lifting for them and guiding everyone to this whole process, which can sometimes be daunting, but you guys make it so easy on whoever is applying. There’s a link down below where you can get in touch with Fund&Grow for those who are interested, and I was able to negotiate a discount of $500 for the membership for those who decide to move forward with the program. https://go.www.novariseinvest.com/funding

Mike: Yes, that’s right, so make sure you guys register directly through the link that you see here on this page. Don’t go directly to the website because if you go directly to the website, you’re going to see a $500 higher price tag.

Lucelia: Okay, so I guess that’s it. Is there anything else you would like to add to this interview?

Mike: No, I just say that we work with a lot of real estate investors, a lot of landlords that tends to be our primary client, real estate flippers, landlords that are buying rental properties. I’d say if that’s you, we could help you out. You should go register. You’re going to get access to a video that talks a little bit about hard money versus business credit, and then after that, you’ll get a phone call, and we’ll give you a call and let you know what you pre-qualify for as well.

One of the other things that I was just thinking was if you want to do this on your own, you could do that, and getting access to that webinar will give you the step-by-step breakdown process. If you’re an investor, if you’re doing deals, keep that in mind if you’re a landlord. It will take a lot of time, and we could carry it all out for you guys. Yes, you’re going to get access to some videos, register, and we’ll give you a call.

Lucelia: All right. Yes, to Mike’s point, again, time is money. If you’re managing a big portfolio, even one or two rentals per se, that takes time away from you. Why would you want to take more time away from your busy schedule and do something that you’re not that familiar with? Just let the professionals handle it, and you focus on what you do best, which is to continue to expand your real estate portfolio.

Mike: I just had one thing I thought about. I always talk about these hard money loans versus using credit. Hard money loans can be 12% interest with two to three points. It could cost 15,000. If you do the math, 100,000 plus 12% interest, plus two or three points on a hundred grand is 15,000 versus using Fund&Grow, which costs you half of that. It’ll cost you half of that after sending a wire transfer to the closing company to buy your real estate deal as a cash deal, which I just interviewed a client on. You can send a wire transfer from the credit line to the closing company and close on a cash deal and do it for half the price you would normally have to do with a hard money lender, who, with a hard money lender, they have to approve your deal.

You can’t just use the credit however you want, and you’d have to get it approved. The numbers have to make a lot of sense to get those types of deals approved on a hard money loan. With business credit, you can buy a rental property. Let’s say you get 80,000 going through the program. You can go and buy a lower market rental property, all with the credit line, all done completely through our service. We facilitate the whole thing. There’s no guesswork, and it’s seamless. It’s super easy to close on a property like that.

I would say, any investor, any landlord on the call, this is a good tool to have in your belt, even if you’re still using hard money, even if you’re a cash buyer, it makes sense to have this. Lucelia, I don’t know if you touched on this that much, but you were telling me on the phone earlier that you spend a lot of money on property management, and you will pay that through a credit card.

Lucelia: Right. That was the point I wanted to add next is that yes, we were talking about that earlier about my early days, leveraging credit cards for real estate. You use a service called Plastic. I use Plastic as well. I pay most of my property managers and pay the rent with it. I have some companies who would directly take the property management fees from the round, but some other stages invoice me every quarter, I believe. Every time I get the invoice, I’ll just simply go through Plastic, and I use the credit card. To me, 2, 3% for a fee, I will pay that because it’s keeping more cash in my pocket today, so I continue to expand my real estate portfolio, and I would just simply use whatever credit line I have available.

Even though they’re super percent, some of them might give you a signup bonus as well. It’s like a no-brainer because the signup bonuses will compensate for the fee that I wind up paying.

Mike: The rewards work. A lot of them will give you cashback every quarter. You’re getting a couple of grand back. Sometimes it’s free to travel. We just traveled first class. I didn’t have to pay for it. There are many perks to just using the credit, and as you said, you want as much. You want to keep building that cash as much as possible and leverage yourself. I know a lot of guys who were buying a bunch of apartment buildings, and it sounds like you’re doing the same thing, and they will put like a percentage of money down on the property, and then they’ll rehab it and increase the value, and then they’ll be able to pull cash out.

This is what the bigger players are doing too. This is just on a smaller level with using credit. You want to leverage, build that cash flow up as much as possible, leverage, obviously don’t over-leverage yourself, but extend yourself so that you can grow. That’s the way to do it. You got to have that amount of capital available to get to the next deal. You don’t need to be worrying about pinching pennies in the short term. You’re trying to build that portfolio. Yes, I see a lot of bigger players doing that exact thing. They’re not buying the whole apartment complex. They put down a percentage, get the property rehabbed, and get it– tenant it at a higher income level or rent level, and then they’re able to pull cash out and repeat the process and continue buying more.

Lucelia: Right. The whole key for real estate investing is to put as little as your cash as possible. I did a lot of it in the beginning. I leverage whatever credit cards I have available just to get enough money to put for the down payment, enough to cover the closing costs. Sometimes I will even ask the title companies if it was okay for me to mail them the check, and I’ll just go into Plastic, like put a copy of the invoice, just send the check, process a credit card, and within like a few days, we’ll get the check-in their mail. It was priceless to me like there are no words to describe the satisfaction. Then whatever cash I had handy, I use that to continue to grow and build the portfolio to what it is today.

Mike: Cool. Yes. That’s awesome. We have tons of clients doing the same thing. Some of them are buying properties, sending the wire to the closing company, some are covering expenses. There’s just a litany of things you can do. Yes, I think that’s a great way to use Plastic, not only to buy a property but to cover expenses using Plastic. Even though it seems like, “Why would I want to pay that extra 2.5, 2.75%,” in some cases, it makes sense. You can get the rewards points, and at the same time, you hold as much cash as possible so you can keep going and buy more and building out.

Lucelia: All right, Mike, so thanks a lot for sharing with us. That was very informative. Here’s a link for those ready to move on to the next level and get all of that credit line available for you. Please make sure you click on it to take advantage of the membership’s $500 discount. Mike and his team will make sure they’ll walk you through the entire process so you can continue to expand your real estate portfolio. 

That was all we had from our interview with Mike Banks as COO of Fund&Grow. Hopefully, you guys found the information very valuable. As he said, there’s a link down in the description box below. Feel free to reach out to him and his team, and they’ll be more than glad to help you out. And you also get a discount of $500 that I was able to negotiate with them.

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