Fund &amp; Grow Financing

Donny Aldo

Houston, TX · Member since 2017 · 23 posts · 6 votes

8y

Originally posted by @JM I.:

Hi Donny,

Please check your IM's.

I messaged you back

Nick GiulioniPro Member

Rental Property Investor · Carmel, IN · Member since 2016 · 1k+ posts · 615 votes

8y

Hey - I used these guys and they were able to get me $55k on the first round. John was an absolute breeze to work with and I highly recommend. I'm currently using the cards as my rehab funds, and using my own equity on the purchases. So far, it is a match made in heaven!

Anderson, SC · Member since 2016 · 91 posts · 40 votes

8y

I have gone through a large portion of this thread but have one question I do not believe has be addressed. When you get the business cards can you transfer balances to them from your private credit cards? If so this would allow you to lower your personal DTI and increase your credit score by essentially hiding those balances outside of your personal credit. Like many on this thread I am working on creative ways to do business. I have a hard money loan that I will want to refinance with a 30 yr fixed but that will of course raise my DTI until the property is seasoned enough to use the income when applying for loans. If I could push balances over to the business credit cards it would solve so many problems and create so many other options with being able to avoid using hard money completely. I really hope someone has an answer to this that has gone through the process. Also, does Fund and Grow need to know where your DTI is or is it just FICO score and credit card utilization?

Maurice Colbert

Rental Property Investor · Blacklick, OH · Member since 2015 · 111 posts · 80 votes

8y

@Daniel Rutledge yes you can, I did, one of mine that was a high balance, moved it over to the business card that had 0% for a while and paying it off, so my personal score is up to a 799 now because I moved that over.

7 Reply

Fontana, CA · Member since 2017 · 7 posts · 11 votes

8y

Originally posted by @Sheldon Morgan:

Originally posted by @Corey Robinson:

@Maurice Colbert I received $40K, or so the first round and my FICO is 790 but when I first applied it was 707. Went through Kaydem Credit to clean some things up on my credit so I would be stronger the second time around.

@Corey Robinson, Thank you for all your updates Corey. I've been speaking with Marty Banks from Fund and Grow this week for about 90 minutes in total. He has been very helpful. I have 2 questions for anyone who has gone through it before, how do you exactly take lets say 50K from a credit card to purchase a 50K rental property? Also is it worth is to pay the company to take the inquiries off your record, is it straightforward or super hard if you do it yourself? Thanks again I'm excited to get into the game of real estate!

I just completed all of my rounds with fund and grow. My wife and I received nearly 250k combined. The way we have acquired the cash for our real estate is through gold money and buy utilizing the credit cards for all of our day to day expenses and holding on to all of our income from our rentals and W-2 jobs. You can pay your mortgage and bills with a credit card using a company called plastiq. These steps will help you build up the cash then once you have acquired the investment property you can refi and pay off the credit cards. Rinse and repeat. Great strategy. Its what we have been doing. Hope this helps.

4 Reply

Anderson, SC · Member since 2016 · 91 posts · 40 votes

8y

When speaking to Fund and Grow they were primarily concerned with where my %balance was on my personal credit cards. They want it to be 35% but currently I am at 40%. Has anyone used the program and had success with more than a 35% to total balance on their credit cards? Also, they want a FICO of 735 and I am wondering if anyone has been able to get funded with a score below that as well. Trying to determine if I want to position myself for Fund and Grow or a HELOC which is more about DTI. I can swing things one way or another and find it amazing that a good DTI gets you one but not the other but a low CC balance gets the opposite. Do they even look at DTI on Fund and Grow?

Fontana, CA · Member since 2017 · 7 posts · 11 votes

8y

Originally posted by @Daniel Rutledge:

When speaking to Fund and Grow they were primarily concerned with where my %balance was on my personal credit cards. They want it to be 35% but currently I am at 40%. Has anyone used the program and had success with more than a 35% to total balance on their credit cards? Also, they want a FICO of 735 and I am wondering if anyone has been able to get funded with a score below that as well. Trying to determine if I want to position myself for Fund and Grow or a HELOC which is more about DTI. I can swing things one way or another and find it amazing that a good DTI gets you one but not the other but a low CC balance gets the opposite. Do they even look at DTI on Fund and Grow?

I have both a HELOC and used Fund and Grow. I had a 720 credit score when I started with them but only had about 15% credit utilization rate. An option could be to request credit limit increases to help lower the percentage and pay down the cards to get you down to the number they are looking for. Just make sure they don't run your credit and get a hard inquiry. The advantage of using Fund and Grow versus the HELOC is that once you acquire the funding and transfer that debt to the the zero interest cards you can pay them down quicker and they don't report to your personal credit report. That will increase your scores and help your DTI ratio when applying for the HELOC. All I can say is doing something is better than nothing. That's how my wife and I approached this and it worked out for us. I hope this helps.

Sheldon Morgan

Rental Property Investor · MD · Member since 2018 · 15 posts · 10 votes

8y

Originally posted by @Gabriel Hernandez:

Originally posted by @Sheldon Morgan:

Originally posted by @Corey Robinson:

@Maurice Colbert I received $40K, or so the first round and my FICO is 790 but when I first applied it was 707. Went through Kaydem Credit to clean some things up on my credit so I would be stronger the second time around.

@Corey Robinson, Thank you for all your updates Corey. I've been speaking with Marty Banks from Fund and Grow this week for about 90 minutes in total. He has been very helpful. I have 2 questions for anyone who has gone through it before, how do you exactly take lets say 50K from a credit card to purchase a 50K rental property? Also is it worth is to pay the company to take the inquiries off your record, is it straightforward or super hard if you do it yourself? Thanks again I'm excited to get into the game of real estate!

I just completed all of my rounds with fund and grow. My wife and I received nearly 250k combined. The way we have acquired the cash for our real estate is through gold money and buy utilizing the credit cards for all of our day to day expenses and holding on to all of our income from our rentals and W-2 jobs. You can pay your mortgage and bills with a credit card using a company called plastiq. These steps will help you build up the cash then once you have acquired the investment property you can refi and pay off the credit cards. Rinse and repeat. Great strategy. Its what we have been doing. Hope this helps.

@Gabriel Hernandez

Awesome Gabriel, so glad it worked out for you. Currently I am in the process of "finding the deal" if you will. I have been looking into some turnkey providers because I do not have the time nor the desire to be too hands on. I enjoy the idea of buy and hold while cash flowing the most. Does Plastiq charge a fee? Also what is the fee on the gold route? What type of terms was Fund and grow able to get you as far as how many months at 0%? When you say refi are you speaking of doing another round with Fund and grow and rolling the interest into another credit card or are you referencing the house? Lastly how did you go about acquiring the property? Was it in your neighborhood, a realtor, turnkey, a friend, etc...? Again thank you for your input, you have no idea how much I have learned in a few months just on BP forums.

Sheldon Morgan

Rental Property Investor · MD · Member since 2018 · 15 posts · 10 votes

8y

Originally posted by @Donny Aldo:

Does anybody want to go half on signing up for fund and grow?

I got my half , it would be more cost effective to split $3,500 down the middle.

If your interested let me know so we can contact them and sign up together.

Thanks

@Donny Aldo

So I am unsure how that works. I have posted on another forum asking if anyone has done this. Like do you need to be in business with this person prior? Must I set up a multi member LLC? I Am not opposed to this idea but I would need more info from Fund and Grow.

Fontana, CA · Member since 2017 · 7 posts · 11 votes

8y

Originally posted by @Sheldon Morgan:

Originally posted by @Gabriel Hernandez:

Originally posted by @Sheldon Morgan:

Originally posted by @Corey Robinson:

@Maurice Colbert I received $40K, or so the first round and my FICO is 790 but when I first applied it was 707. Went through Kaydem Credit to clean some things up on my credit so I would be stronger the second time around.

@Corey Robinson, Thank you for all your updates Corey. I've been speaking with Marty Banks from Fund and Grow this week for about 90 minutes in total. He has been very helpful. I have 2 questions for anyone who has gone through it before, how do you exactly take lets say 50K from a credit card to purchase a 50K rental property? Also is it worth is to pay the company to take the inquiries off your record, is it straightforward or super hard if you do it yourself? Thanks again I'm excited to get into the game of real estate!

I just completed all of my rounds with fund and grow. My wife and I received nearly 250k combined. The way we have acquired the cash for our real estate is through gold money and buy utilizing the credit cards for all of our day to day expenses and holding on to all of our income from our rentals and W-2 jobs. You can pay your mortgage and bills with a credit card using a company called plastiq. These steps will help you build up the cash then once you have acquired the investment property you can refi and pay off the credit cards. Rinse and repeat. Great strategy. Its what we have been doing. Hope this helps.

@Gabriel Hernandez

Awesome Gabriel, so glad it worked out for you. Currently I am in the process of "finding the deal" if you will. I have been looking into some turnkey providers because I do not have the time nor the desire to be too hands on. I enjoy the idea of buy and hold while cash flowing the most. Does Plastiq charge a fee? Also what is the fee on the gold route? What type of terms was Fund and grow able to get you as far as how many months at 0%? When you say refi are you speaking of doing another round with Fund and grow and rolling the interest into another credit card or are you referencing the house? Lastly how did you go about acquiring the property? Was it in your neighborhood, a realtor, turnkey, a friend, etc...? Again thank you for your input, you have no idea how much I have learned in a few months just on BP forums.

Unfortunately Sheldon, nothing in life is free. I believe they charge 2.5% for plastiq and the gold money varies because it is based on the value of the gold spot. So I keep an eye on it and try to buy low and sell high to reduce or eliminate any fee can take a little bit of time but works. As for the zero interest it depends on individual credit and the cards that they acquire for you. In my case I received anywhere from 7 to 15 months of zero interest. As for my method of acquiring properties I use the BRRRR method so I refi the property into a 20 or 30 yr mortgage. I have not used a turn key company I purchase homes that are undervalued and in decent condition get them rent ready then rent them out then refi and repeat.

Sheldon Morgan

Rental Property Investor · MD · Member since 2018 · 15 posts · 10 votes

8y

Originally posted by @Gabriel Hernandez:

Originally posted by @Sheldon Morgan:

Originally posted by @Gabriel Hernandez:

Originally posted by @Sheldon Morgan:

Originally posted by @Corey Robinson:

@Maurice Colbert I received $40K, or so the first round and my FICO is 790 but when I first applied it was 707. Went through Kaydem Credit to clean some things up on my credit so I would be stronger the second time around.

@Corey Robinson, Thank you for all your updates Corey. I've been speaking with Marty Banks from Fund and Grow this week for about 90 minutes in total. He has been very helpful. I have 2 questions for anyone who has gone through it before, how do you exactly take lets say 50K from a credit card to purchase a 50K rental property? Also is it worth is to pay the company to take the inquiries off your record, is it straightforward or super hard if you do it yourself? Thanks again I'm excited to get into the game of real estate!

I just completed all of my rounds with fund and grow. My wife and I received nearly 250k combined. The way we have acquired the cash for our real estate is through gold money and buy utilizing the credit cards for all of our day to day expenses and holding on to all of our income from our rentals and W-2 jobs. You can pay your mortgage and bills with a credit card using a company called plastiq. These steps will help you build up the cash then once you have acquired the investment property you can refi and pay off the credit cards. Rinse and repeat. Great strategy. Its what we have been doing. Hope this helps.

@Gabriel Hernandez

Awesome Gabriel, so glad it worked out for you. Currently I am in the process of "finding the deal" if you will. I have been looking into some turnkey providers because I do not have the time nor the desire to be too hands on. I enjoy the idea of buy and hold while cash flowing the most. Does Plastiq charge a fee? Also what is the fee on the gold route? What type of terms was Fund and grow able to get you as far as how many months at 0%? When you say refi are you speaking of doing another round with Fund and grow and rolling the interest into another credit card or are you referencing the house? Lastly how did you go about acquiring the property? Was it in your neighborhood, a realtor, turnkey, a friend, etc...? Again thank you for your input, you have no idea how much I have learned in a few months just on BP forums.

Unfortunately Sheldon, nothing in life is free. I believe they charge 2.5% for plastiq and the gold money varies because it is based on the value of the gold spot. So I keep an eye on it and try to buy low and sell high to reduce or eliminate any fee can take a little bit of time but works. As for the zero interest it depends on individual credit and the cards that they acquire for you. In my case I received anywhere from 7 to 15 months of zero interest. As for my method of acquiring properties I use the BRRRR method so I refi the property into a 20 or 30 yr mortgage. I have not used a turn key company I purchase homes that are undervalued and in decent condition get them rent ready then rent them out then refi and repeat.

@Gabriel Hernandez

Thank you for the information, that's great to hear. I will continue looking and learning. How did you and your wife do it together with Fund and grow? Was there any type of legal entity set up for both of you or is everything separate? I am inquiring because I'm thinking of going half with someone else but unsure how it would work.

Fontana, CA · Member since 2017 · 7 posts · 11 votes

8y

Originally posted by @Sheldon Morgan:

Originally posted by @Gabriel Hernandez:

Originally posted by @Sheldon Morgan:

Originally posted by @Gabriel Hernandez:

Originally posted by @Sheldon Morgan:

Originally posted by @Corey Robinson:

@Maurice Colbert I received $40K, or so the first round and my FICO is 790 but when I first applied it was 707. Went through Kaydem Credit to clean some things up on my credit so I would be stronger the second time around.

@Corey Robinson, Thank you for all your updates Corey. I've been speaking with Marty Banks from Fund and Grow this week for about 90 minutes in total. He has been very helpful. I have 2 questions for anyone who has gone through it before, how do you exactly take lets say 50K from a credit card to purchase a 50K rental property? Also is it worth is to pay the company to take the inquiries off your record, is it straightforward or super hard if you do it yourself? Thanks again I'm excited to get into the game of real estate!

I just completed all of my rounds with fund and grow. My wife and I received nearly 250k combined. The way we have acquired the cash for our real estate is through gold money and buy utilizing the credit cards for all of our day to day expenses and holding on to all of our income from our rentals and W-2 jobs. You can pay your mortgage and bills with a credit card using a company called plastiq. These steps will help you build up the cash then once you have acquired the investment property you can refi and pay off the credit cards. Rinse and repeat. Great strategy. Its what we have been doing. Hope this helps.

@Gabriel Hernandez

Awesome Gabriel, so glad it worked out for you. Currently I am in the process of "finding the deal" if you will. I have been looking into some turnkey providers because I do not have the time nor the desire to be too hands on. I enjoy the idea of buy and hold while cash flowing the most. Does Plastiq charge a fee? Also what is the fee on the gold route? What type of terms was Fund and grow able to get you as far as how many months at 0%? When you say refi are you speaking of doing another round with Fund and grow and rolling the interest into another credit card or are you referencing the house? Lastly how did you go about acquiring the property? Was it in your neighborhood, a realtor, turnkey, a friend, etc...? Again thank you for your input, you have no idea how much I have learned in a few months just on BP forums.

Unfortunately Sheldon, nothing in life is free. I believe they charge 2.5% for plastiq and the gold money varies because it is based on the value of the gold spot. So I keep an eye on it and try to buy low and sell high to reduce or eliminate any fee can take a little bit of time but works. As for the zero interest it depends on individual credit and the cards that they acquire for you. In my case I received anywhere from 7 to 15 months of zero interest. As for my method of acquiring properties I use the BRRRR method so I refi the property into a 20 or 30 yr mortgage. I have not used a turn key company I purchase homes that are undervalued and in decent condition get them rent ready then rent them out then refi and repeat.

@Gabriel Hernandez

Thank you for the information, that's great to hear. I will continue looking and learning. How did you and your wife do it together with Fund and grow? Was there any type of legal entity set up for both of you or is everything separate? I am inquiring because I'm thinking of going half with someone else but unsure how it would work.

It's separate we each received our own EIN numbers. I think there services are worth the 3500.00 but if you find some one to split the cost then it is totally worth it. Other companies I talked to wanted 3 or 4 percent of the money the acquire for you. In my case that would have cost us more than 7500.00. Good luck.

Flipper/Rehabber · Knoxville, TN · Member since 2017 · 130 posts · 72 votes

8y

@Maurice Colbert

Did you ever figure out how to get the actual cash from your GoldMoney account? If so, how quick was the process from applying to get verified to actually receiving your cash?

Fontana, CA · Member since 2017 · 7 posts · 11 votes

8y

Originally posted by @Tae C.:

@Maurice Colbert

Did you ever figure out how to get the actual cash from your GoldMoney account? If so, how quick was the process from applying to get verified to actually receiving your cash?

I opened my account over a year ago don't recall how long it took to verify my account but I can't imagine it take longer than a few days. As for cashing out it is very easy hit the redeem button it takes about 2 to 3 days for the money to post into your account. One thing I would recommend is to use a gold chart to see what the highs and lows are. Buy low sell high this will lower the cost of the fees associated with this strategy. Unfortunately nothing is free but with the zero interest for 6 to 12 months the quicker you take advantage of that and start cash flowing as soon as possible its not so bad. A lot less than 12 to 14 percent hard money loan. Hope this helps Good luck.

Flipper/Rehabber · Knoxville, TN · Member since 2017 · 130 posts · 72 votes

8y

@Gabriel Hernandez

Thanks for the insight. I am troubled by the reviews I have read about GoldMoney. They seem to be extremely unreliable in general based on many reviews. They say it takes forever to even get verified in the first place with all sorts of personal and financial information being requested that seem unnecessary. Also reading that it is actually quite a drawn out process to get your cash deposited into your account. Several cases say they had to call support multiple times just to get their own money back. These experiences seem quite opposite to what you described as a fairly seamless and quick process.

Fontana, CA · Member since 2017 · 7 posts · 11 votes

8y

Originally posted by @Tae C.:

@Gabriel Hernandez

Thanks for the insight. I am troubled by the reviews I have read about GoldMoney. They seem to be extremely unreliable in general based on many reviews. They say it takes forever to even get verified in the first place with all sorts of personal and financial information being requested that seem unnecessary. Also reading that it is actually quite a drawn out process to get your cash deposited into your account. Several cases say they had to call support multiple times just to get their own money back. These experiences seem quite opposite to what you described as a fairly seamless and quick process.

I think its the newer accounts that may be having issues. Like I have stated before its been over one year since I have established my account and I have made severale transactions. So I can't speak to other's experience other than my own experience. I think the more you use the system and it recognizes your account the quicker the transactions my take place. I know they have made some updates to there system since I have created an account. Can't say I have had any problems with this strategy. It has worked for me.

Patrick De La Cruz

San Diego, CA · Member since 2018 · 7 posts · 4 votes

8y

I have acquired business cards through Fund&Grow (Started in March & Completed 1st round of funding) My first round of funding came to a whopping $29,000 (pretty low!) I have a 748 credit score and all current personal cards I have prior to applying, the utilization on them are below 35% and still only received 29k. I am in the process of doing balance transfers under an LLC. Anyone had any issues doing Balance Transfers? If you have done the BT, were you able to transfer full amount?

Alphonso H.

Wholesaler · Columbus, MS · Member since 2015 · 38 posts · 0 votes

8y

http://application.fullcirclehousing.com

Evelio Gonzalez

Investor · North Bergen, NJ · Member since 2016 · 121 posts · 14 votes

8y

I had an absolutely great experience with Fund and Grow. John Madison able to help me acquire $33k of funding with 0% interest in just a matter of weeks. Now I'm deploying these funds into my real estate business to grow faster than ever would have been possible.

Anderson, SC · Member since 2016 · 91 posts · 40 votes

8y

I have just paid off some credit cards and as soon as that shows on my credit report I am working with Fund and Grow. I will post my experience on here as it is part of a larger plan I have put together for the next three years.

Flipper/Rehabber · Knoxville, TN · Member since 2017 · 130 posts · 72 votes

8y

Just wanted to chime in with what little first-hand experience I have now had with the company. I applied and submitted the $3497 payment for membership on the evening of Thurs. April 26th. I then scheduled my first consultation call for Monday May 7th (today actually). Over that weekend, the wife and I decided that paying this much for the credit did not make sense for us right now for various reasons...so, the evening of Sunday April 29th I formally submitted for a full refund via their simple refund request form online. They say in their refund policy that they'll contact you within two business days of the refund request.

On the second business day since the request was made, Tuesday May 1st, I not only received a direct personal email from Mike Banks the CEO that many of you have listened to on Fund and Grow webinars (it was not a generic email as it was specifically addressing my refund request and some items I listed in the form), but also missed a call from Lisha Alexander from Fund and Grow at the end of that day. She also sent a follow up email upon the missed call to ensure I knew I could call her back any time the next day.

I in fact called her the next afternoon Wednesday May 2nd. She wanted to hear a bit more about why I submitted the refund request so quickly. The ONLY thing she tried to suggest was to follow through with the no obligation consultation call I already had scheduled just to see if it might still work out for us - and when I reiterated kindly the reason why we did not want to pursue it, that's all it took. From there, she immediately processed the request. She was extremely friendly and understanding, no pushy sales pitch at all. She told me I would receive the full refund check on or around May 7th...and sure enough, as of earlier this afternoon, I received that check in the mail just as she told me would happen.

All in all, Fund and Grow had excellent customer service, second to none. Everything happened exactly the way they said it would, and they were not pushy in any sort of way but were the exact opposite of what you would expect from a company that may be selling you a product. This is the very kind of service that would make me seriously consider them again down the road if/when my capital situation looks a bit different. She will be the first direct call I make if I were to pursue it again. At least on the customer service aspect of it, I would definitely vouch for their service.

4 Reply

Flipper/Rehabber · Knoxville, TN · Member since 2017 · 130 posts · 72 votes

8y

All, wanted to share this update as it might prove to be helpful for some of you that are wanting this kind of credit access, but unsure of wanting to go through with paying a hefty fee, be it Fund and Grow or otherwise.

As I mentioned above, I received my refund in full and they had great customer service throughout the process. But it got me thinking that I could maybe just do this on my own and not have to pay $3500 for someone else to do it, so I was talking to a buddy of mine who is a master of credit card "hacks", and he helped me get some ideas to proceed.

Last week I decided on four specific cards to go with - I focused on 0% APR for both purchases and balance transfers for at least 12 months (with no annual fees of course), but it turns out all of them are 14 - 18 months. I chose to take the personal CC route vs. the business CC route for various reasons - at the end of the day, it's all pretty similar to me as with how new my business entity is (8-9 months) I would've had to back it up with my personal credentials anyway. In the end, I got approved for 4 cards at a total of $56,800. My primary usage of the cards will be to utilize the 0% balance transfers directly towards my HELOC to open more of it back up for continued use on a couple flips that are going long (and one way over budget), and then I'll just pay them off when the flips are done accordingly. My HELOC is at prime + 2% (it was a 100% LTV, hence the higher rate but got great cash access), so I'll be saving quite a bit on the interest in the meantime. I currently have the balance transfers pending.

All that to say - VERY possible to do this on your own and access a nice chunk of credit without having to pay thousands of dollars to have someone do it for you. All it took was the time to research the cards that fit my needs, fill out the one page online application, and hit submit. If anyone wants more details on the process, feel free to PM me. Hope this helps!

7 Reply

Anderson, SC · Member since 2016 · 91 posts · 40 votes

8y

I have a ton of available cc for personal use but if you max those cards out under your name it crushes your fico score. I believe the goal for most here is to hold debt outside of the personal fico and dti world.

Originally posted by @Tae C.:

All, wanted to share this update as it might prove to be helpful for some of you that are wanting this kind of credit access, but unsure of wanting to go through with paying a hefty fee, be it Fund and Grow or otherwise.

As I mentioned above, I received my refund in full and they had great customer service throughout the process. But it got me thinking that I could maybe just do this on my own and not have to pay $3500 for someone else to do it, so I was talking to a buddy of mine who is a master of credit card "hacks", and he helped me get some ideas to proceed.

Last week I decided on four specific cards to go with - I focused on 0% APR for both purchases and balance transfers for at least 12 months (with no annual fees of course), but it turns out all of them are 14 - 18 months. I chose to take the personal CC route vs. the business CC route for various reasons - at the end of the day, it's all pretty similar to me as with how new my business entity is (8-9 months) I would've had to back it up with my personal credentials anyway. In the end, I got approved for 4 cards at a total of $56,800. My primary usage of the cards will be to utilize the 0% balance transfers directly towards my HELOC to open more of it back up for continued use on a couple flips that are going long (and one way over budget), and then I'll just pay them off when the flips are done accordingly. My HELOC is at prime + 2% (it was a 100% LTV, hence the higher rate but got great cash access), so I'll be saving quite a bit on the interest in the meantime. I currently have the balance transfers pending.

All that to say - VERY possible to do this on your own and access a nice chunk of credit without having to pay thousands of dollars to have someone do it for you. All it took was the time to research the cards that fit my needs, fill out the one page online application, and hit submit. If anyone wants more details on the process, feel free to PM me. Hope this helps!