Securing Guarantor with 50k/m Profits and No Credit

[Matt Ward]

Hi guys, looking at several MF properties and in a pickle. Business is bringing in 40-60k profit a month and looking to invest but lack credit history for conventional commercial lending.

Paid for college out of pocket, built business abroad while renting, didn't own a car or credit card...now small secured card and credit card, 1k limit and virtually no credit history...and 50k a month to invest.

How?

Would prefer to own assets vs being hard money lender but open to suggestions.

Looking for 2-24 units, solid cashflow, buy and hold B to C class properties in Rochester, Atlanta and JAX.

Would you try to secure a guarantor? If so how?

Would prefer not to ask family to be guarantor as it seems wrong.

Thanks and really appreciate help and support,

Matt

[Eddie T.]

You can put 100k as collateral with a bank and they will give you in return a 100k line of credit. Use this line to purchase properties and pay it back on time this will help build your credit.

I would also get more secured credit cards if you still cannot obtain a regular one.

But in my opinion if your business truly makes 50k a month profit their will be a bank willing to extend you some form of credit.