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Claude for Founders
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Leverage Credit For Cashflow
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5 contributions to Leverage Credit For Cashflow
Feb '24 •
How do I charge a 0% Chase Ink when balance transfer promotion isn't available?
@Tobi Rosario Chase Ink is offering 0% on purchases but not balance transfers. How do I charge my Chase Ink 0% and use those funds to pay off a different credit card balance?
2 likes • Mar '24
@Raw Street apparently the underwriter wasn’t asking for anything additional. They just overlooked the application or missed it somehow. When I met in person I just did what @Tobi Rosario recommends. Deposited 5k in a new business account but I was very direct on why I was doing it. I told them I need 100k credit line at 0%. Brought in 3 months of bank statements and a costar Revpar comp set report. My business is a hotel that I flipped last fall and is in the process of stabilization so revenues are increasing monthly. Hopefully will get the answer today. @Tobi Rosario - what prompted this whole thing to begin with is the 0% Bank of America cash card (red) promo expiring. I still owe about 80k on that line and was going to roll it over to this new line. However, I have a closing coming up on another property I’m selling and will be getting about 100k from that sale. How would you manage the 80k balance Bank of America card? A. Pay off the balance with the incoming 100k cash? B. Roll the 80k balance into the new Chase 0% line of credit (assuming I get this line) However, the Chase Business Relationship manager advised me that the 0% is for purchases only so I haven’t figured out that hurdle quite yet. i have to figure out how to legally charge the hotel so I can an invoice through PayPal or Wise or something. If you have thoughts let me know. C. Some other option you can think of?
2 likes • Mar '24
@Tobi Rosario so the saga continues. Chase ran my credit yesterday afternoon and I missed it until this morning. Am I too late to clear the inquiry? I remember from your videos to have them run it in the morning and call and get it removed in the afternoon. I’ll go ahead and call to get it removed this morning just in case. So still waiting for an answer from Chase. My relationship manager texted me yesterday afternoon and said I should have an answer by Friday - tomorrow. Also, will let the cash sit there but I’m unclear on how I’m supposed to let the credit card companies know about the cash since it’s in my bank account? Send them a letter from my bank stating how much is in there? Just not clear since American Express doesn’t have a checking account that I can move the funds into so they can see it that way, so what is the missing link for them to know about the funds cash?
Feb '24 •
Which would you rather have ?
Which would you rather have you can only pick one??
Poll
31 members have voted
7 likes • Feb '24
2mm would help me acquire more right now on the commercial real estate side & and I could borrow more as well. cash is king.
Jan '24 •
Things Coming Down the Pipeline
𝐓𝐡𝐢𝐧𝐠𝐬 𝐜𝐨𝐦𝐢𝐧𝐠 𝐝𝐨𝐰𝐧 𝐭𝐡𝐞 𝐩𝐢𝐩𝐞𝐥𝐢𝐧𝐞 𝐌𝐨𝐧𝐝𝐚𝐲 𝟏/𝟐𝟐/𝟐𝟎𝟐𝟒 𝐁𝐮𝐬𝐢𝐧𝐞𝐬𝐬 𝐅𝐔𝐍𝐃𝐈𝐍𝐆 𝐅𝐑𝐀𝐌𝐄𝐖𝐎𝐑𝐊𝐒 𝐅𝐎𝐑 𝟐𝟎𝟐𝟒 𝐚𝐧𝐝 𝐡𝐨𝐰 𝐭𝐨 𝐩𝐨𝐬𝐢𝐭𝐢𝐨𝐧 𝐲𝐨𝐮𝐫𝐬𝐞𝐥𝐟 𝐟𝐨𝐫 𝐦𝐚𝐬𝐬𝐢𝐯𝐞 𝐟𝐮𝐧𝐝𝐢𝐧𝐠 𝐢𝐧 𝟐𝟎𝟐𝟒 𝐚𝐧𝐝 𝐛𝐞𝐲𝐨𝐧𝐝. 𝐌𝐨𝐧𝐝𝐚𝐲 𝟏/𝟐𝟗/𝟐𝟒 𝐇𝐨𝐰 𝐭𝐨 𝐦𝐚𝐤𝐞 $𝟏𝟎𝟎,𝟎𝟎𝟎 𝐖 𝐒𝐡𝐨𝐩𝐢𝐟𝐲 𝐰𝐨𝐫𝐤𝐢𝐧𝐠 𝐨𝐧 𝐬𝐜𝐡𝐞𝐝𝐮𝐥𝐢𝐧𝐠 𝐜𝐥𝐚𝐬𝐬𝐞𝐬 𝐟𝐨𝐫 𝐑𝐞𝐚𝐥𝐞𝐬𝐭𝐚𝐭𝐞 𝐈𝐧𝐯𝐞𝐬𝐭𝐢𝐧𝐠 𝐚𝐧𝐝 𝐒𝐨 𝐌𝐨𝐫𝐞 𝐄-𝐂𝐨𝐦𝐦𝐞𝐫𝐜𝐞 𝐇𝐨𝐰 𝐭𝐨 𝐛𝐮𝐢𝐥𝐝 𝐚 𝐦𝐢𝐥𝐥𝐢𝐨𝐧-𝐝𝐨𝐥𝐥𝐚𝐫 𝐫𝐞𝐚𝐥 𝐞𝐬𝐭𝐚𝐭𝐞 𝐩𝐨𝐫𝐭𝐟𝐨𝐥𝐢𝐨. 𝐇𝐨𝐰 𝐭𝐨 𝐦𝐚𝐤𝐞 $𝟏𝟎𝟎,𝟎𝟎𝟎+ 𝐖𝐡𝐨𝐥𝐞𝐬𝐚𝐥𝐢𝐧𝐠 𝐑𝐞𝐚𝐥 𝐄𝐬𝐭𝐚𝐭𝐞. 𝐇𝐨𝐰 𝐭𝐨 𝐦𝐚𝐤𝐞 $𝟏𝟎𝟎,𝟎𝟎𝟎+ 𝐅𝐢𝐱𝐢𝐧𝐠 𝐚𝐧𝐝 𝐅𝐥𝐢𝐩𝐩𝐢𝐧𝐠 𝐇𝐨𝐮𝐬𝐞𝐬. 𝐒𝐭𝐚𝐲 𝐓𝐮𝐧𝐞𝐝 𝐚𝐥𝐨𝐭 𝐢𝐬 𝐜𝐨𝐦𝐢𝐧𝐠 𝐝𝐨𝐰𝐧 𝐭𝐡𝐞 𝐩𝐢𝐩𝐞𝐥𝐢𝐧𝐞. 𝐌𝐚𝐤𝐞 𝐬𝐮𝐫𝐞 𝐭𝐨 𝐬𝐡𝐚𝐫𝐞 𝐭𝐡𝐢𝐬 𝐠𝐫𝐨𝐮𝐩 𝐰𝐢𝐭𝐡 𝐩𝐞𝐨𝐩𝐥𝐞 𝐢𝐧 𝐲𝐨𝐮𝐫 𝐜𝐢𝐫𝐜𝐥𝐞 𝐰𝐡𝐨 𝐰𝐨𝐮𝐥𝐝 𝐛𝐞𝐧𝐞𝐟𝐢𝐭 𝐟𝐫𝐨𝐦 𝐭𝐡𝐢𝐬 𝐢𝐧𝐟𝐨𝐫𝐦𝐚𝐭𝐢𝐨𝐧. 𝐁𝐞𝐜𝐚𝐮𝐬𝐞 𝐚𝐬 "𝐈 𝐥𝐢𝐤𝐞 𝐭𝐨 𝐬𝐚𝐲 𝐲𝐨𝐮 𝐝𝐨𝐧'𝐭 𝐤𝐧𝐨𝐰 𝐰𝐡𝐚𝐭 𝐲𝐨𝐮 𝐝𝐨𝐧'𝐭 𝐤𝐧𝐨𝐰, 𝐚𝐧𝐝 𝐰𝐡𝐚𝐭 𝐲𝐨𝐮 𝐝𝐨𝐧𝐭 𝐤𝐧𝐨𝐰 𝐜𝐚𝐧 𝐡𝐮𝐫𝐭 𝐲𝐨𝐮!" 𝐓𝐡𝐚𝐭𝐬 𝐦𝐲 𝐭𝐢𝐦𝐞.....
6 likes • Jan '24
Huge value
Jan '24 •
Rolling over 0% interest debt question
I have 2 Bank of America credit cards in which the 0% interest will expire next month. The balances are roughly 80,000 on the cash rewards card and 9,300 on the BankAmericard Platinum Plus Mastercard. I'm in real estate and some projects that I thought would sell by now ran into some delays. I am currently asset rich and cash poor so I need to roll these cards into additional 0% cards. total revolving credit lines (mostly personal cards except for 20k) is $260,000 and $130,000 of that is currently being utilized. Credit score is roughly 730. I have a couple LLCs that have some decent life on them and have not utilized 0% balance transfer cards for them. Not sure if I can roll a personal credit card debt into an LLCs? I think one of the videos said you can but you can't go the other way - LLC to Personal? I think that the best plan of action is that which was laid out in Tobi's video: 'Credit Card Stacking - How To Get $150K In Business Credit With A New LLC 2024!' but just want to make sure. Lastly, I own a hotel and have been racking up a bunch of charges on one of my personal credit cards through Chase. It's the chase marriott card (just so I can get points for free nights). I was thinking a good option for what I'm trying to achieve here - transferring those bank of america cards over might be to apply for 0% business card through chase because they can see that the charges are specifically for a hotel and might be me a higher credit line to help out with that $80,000 bank of america card. Thank you for help and guidance.
1 like • Jan '24
Amazing. Thank you.
1 like • Jan '24
Lastly, should I try to do it all at the same time or wait a few days in between and should I split it up between my different LLCs?
Jan '24 •
New to the group
I new to the group and stoked to be here! Thank you @Tobi Rosario I own multiple businesses and used to hire a company to pull credit on those businesses to help with cashflow but would have to pay those guys upwards of 30%. Looking forward to learning how to handle it myself now..
1-5 of 5
Active 403d ago
Joined Jan 16, 2024