how to get credit lines of 20-40 million?

I've heard of people getting credit lines of 20-40 million with no problems. They have relationships with the banks etc, but what do you need as far as networth or income to actually get this amount of money from the banks? I've always wondered how some people can get this amount of money, is it through personal or business lines? any advice would be greatly appreciated.

Edited: 06/26/2010 at 09:37AM

Tony Walker

Real Estate Consultant · San Francisco, California

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Icon_minipost Sep 05 '09, 02:06 PM

You have to be Donald Trump.

Edited: 06/26/2010 at 09:37AM

J Scott

Real Estate Investor · Atlanta, Georgia

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Icon_minipost Sep 05 '09, 02:11 PM

These are going to be secured lines of credit, so the banks will be looking for collateral, either personally guaranteed or guaranteed through a business with hard assets.

Edited: 06/26/2010 at 09:37AM

James Hiddle

Real Estate Investor · Altus, Oklahoma

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Icon_minipost Sep 05 '09, 02:38 PM

Originally posted by Tony Walker

You have to be Donald Trump.

No not necessarily you can be broke with no income and no credit with a ton of BK's on your report to receive LOC's that much.

But I believe you have to live in the state of delusion to receive it :mrgreen:

Edited: 06/26/2010 at 09:37AM

Greg P.

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Icon_minipost Sep 05 '09, 02:39 PM

I know you don't have to be Donald Trump because a friend of the family is able to do this. I was tempted to ask, but thought it was a inappropriate question since we see them once in a awhile. They are in the restaurant and real estate business, but that's all I know and very successful. Thank you!!

Edited: 06/26/2010 at 09:37AM

Tony Walker

Real Estate Consultant · San Francisco, California

94 posts
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Icon_minipost Sep 05 '09, 04:04 PM

Originally posted by J Scott

These are going to be secured lines of credit, so the banks will be looking for collateral, either personally guaranteed or guaranteed through a business with hard assets.

and then some. :D

Edited: 06/26/2010 at 09:37AM

Tony Walker

Real Estate Consultant · San Francisco, California

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Icon_minipost Sep 05 '09, 04:13 PM

Originally posted by Greg Park

I know you don't have to be Donald Trump because a friend of the family is able to do this. I was tempted to ask, but thought it was a inappropriate question since we see them once in a awhile. They are in the restaurant and real estate business, but that's all I know and very successful. Thank you!!

I can guarantee you that this did not happen over night,
but if you asked this question so you could find out how you could do it, go after your first 250k, and then build on that. :mrgreen:

Edited: 06/26/2010 at 09:37AM

Amanda Herr

Real Estate Investor · Oakdale, Minnesota

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Icon_minipost Sep 06 '09, 05:51 AM

I think I sort of find out from my other post regarding BLOC and Authorized user.

You need to buy an Aged or Dissolved Corp. Any way they charged so much up front and back end. It would be nice if these creators would not be too greedy. By time you already have a huge debt and all you do is flip or sell those properties to pay off your BLOCK back end fees.

Again, not trying to promote anyone's businesses or websites, but I came across to this website where you can buy a dissolved corporate from your secretary of state. They said it should save some money from buying a $2k-10k+ shelf corp. I asked them if I buy it will they come after me regarding that previous owner because they owe tax liens, debts, lawsuits, and etc. They said it shouldn't come after the new EIN. Don't know if it's true?

I think if you want to have 20-40mil, you need someone who is willing to risk their life to sign up as a personal guarantor such as a CEO or CFO. I don't know, there are really obnoxious people who wants your money and don't perform what they stated on their advertisement. Still researching.

About Mr. Trump, all I just heard rumors that he has 700+ corporations.

Edited: 06/26/2010 at 09:37AM