All Forum Posts by: Carlos Flores

I had not heard that. When I followed it more closely, it seemed to depend more on the source of the funds ... meaning who was extending the credit on the back end.

For example: Quill, who I believe self-funded the extensions to small businesses, pulled from DNB. On the other hand, Key Bank non-PG business credit cards were actually issued by Citi. Citi pulled Experian Biz. Elan eventually took this portfolio over when US Bank purchased it from Citi. Elan's underwriters had a reputation for only caring about personal credit. Almost overnight, Key Bank business credit cards now required a PG and they (Elan) were pulling consumer credit reports.

Which leads me back to your question about lenders. If by lenders you mean banks and credit unions, I guess it would depend on the vehicle used. We can see what might happen with business credit cards, whereas requirements for a BLOC might be different. The bank that issued my business a BLOC pulled Experian Biz and my personal consumer report. However they do not report to the consumer CRAs, only to Experian Biz and DNB.

It is important your business credit not report on your personal reports and, conversely, that your personal not report on your business reports.

Thanks for posting that Mike. I should have done a better job at the onset. :oops:

Obama administration's proposal to sell tens of thousands of foreclosed properties owned by government-backed entities and then convert them to rentals gets mixed reviews.

http://online.wsj.com/article/SB10001424053111904823804576500642356065356.html

How do you think this could affect most investors on this board?

Don't pay DNB anything. EVER!!! They will tell you anything to get you to buy something. Your biz will automatically get a paydex after your net 30's report.

As for building business credit, times have changed and you will be required to PG if you are just starting out. Corps and LLCs with less than 2 years will also have issues getting credit with the more conservative creditors ... some are even asking for 3 years now. Building business credit takes patience. It used to be easy to get non-pg net 30 accounts at companies like quill, staples, granger, uline, gemplers, to name a few, but I hear they are not so easy anymore. You need to be careful with SIC code as well. Stay away from real estate, construction, financial, and auto dealer related SIC codes if you can. Why? Because Experian will artificially lower your biz credit score if you fall into the wrong code. I know this a RE site. Be creative. Property Management SIC is better than RE investment, etc.

Some things have not changed, however.
- get your biz paperwork in order
- use a physical address, preferably not a kinkos mailbox
- landline or list yourself in 411
- biz bank acct
- wait until biz shows in 411
- try some net 30 accts mentioned above
- wait!
- check dnb and experian biz for trade lines and respective scores from each CRA. You'll need at least 3 reporting to get a paydex score.
- another app spree
- wait!
- check CRAs
- repeat (at some point you will need to wait several months between applications or underwriting will auto reject you).

Any examples in Dallas TX area?

Welcome aboard Larry

Sounds like Will is making a case for Waiver. You can find the definition for Waiver in Black's Law Dictionary here, http://blacks.worldfreemansociety.org/2/W/w1216.jpg.

I'm not a lawyer. Lets assume one hopes to assert waiver. How much time does the Bank have to say no? It certainly does not require an immediate answer, and I do not think one could demand the bank has 72 hours to respond. So what's reasonable, 1 month, 3 months, 6 months, 1 year, longer? 1 year later while you are sitting there in court hoping the court thinks 1 month is more than ample time for a response, the bank's attorney tells the court his client took immediate action as soon they were notified of the impending transfer. What action? Oh, the bank sent the matter to the foreclosure department who promptly prioritized it at the end of the line of 1000 foreclosures.

Welcome Scott.

I missed the last run on real estate, dot com, post 9/11 stock runs, and gold to name a few gravy trains. I am not missing out on today's buy/fix/hold real estate opportunities.

It's because you've failed to vote for every one of my meaningless postings. Like this one, for example.