All Forum Posts by: Nick Chin

oh sorry i should have been clearer. I was referred to them to discuss business loans & credit, not to repair credit. 

Regarding Business credit cards, yes i have profitable S Corp that's 4 years old. Well, it was until Covid. Which is part of the of the reason i am pivoting to real estate investing. 

He didn't mention if those cards he offered was guaranteed by me or not but i would tend to think it was. 

"Debt is a very powerful, but dangerous investment vehicle, please tread cautiously on whatever you decide to do."  <---- i absolutely agree, that's why i decided to make the post and get some feedback from all the experts

So i was talking to a guy from a company, they fix credit, help with business credit and loans. I'm interested in getting some business credit cards, so i was discussing this with him. He said based on my info I should be able to easily get quite a bit of business credit. He said, sure I can go get it myself but i'll only be able to get one whereas he would bulk apply or something and get me a bunch of business credit cards. At this point, it seems interesting... then... their fee.... 9.99% of whatever they can get. 

Interesting business model but i'm a little bothered considering their main business is credit repair. He said, they won't charge anything until i get issued credit, they will charge me 9.99% at that point. So, basically from the moment u get, let's say 100k, you're already in 10k of debt with them. he continued, no big deal it's interest free for a year. I get it but man, as an 'advocate' for credit health it sure seems like they're setting up their clients for failure. Keep in mind most people that reach to them started with credit repair. Maybe i'm wrong but seems unethical and frankly, kinda messed up. 

I was thinking he was gonna hit me with $500 or $1000 maybe even more but 9.99%.. am i wrong? 

For the record, last week i checked my credit score ad it was 820. 
I have about 75k in credit limits across a couple of personal credit cards. 

I'd love to hear from u guys here, and for anyone who does this as a business, what am i missing? 

(hopefully, i posted in the right category)

Thanks for the warm welcome everyone. 

Full disclosure I'm all set with a real estate agent in Miami, my better half is a freshly minted agent. 

I've been on the fence for the last few years to get heavy into RE.
Covid has been the catalyst to move forward. 

I'm new here and after reading a few of the posts, i had to drop one myself and commend y'all. So far looks like a smart knowledgeable community but more important, i love the vibe i am seeing from the posts. Not at all condescending or cocky, i like that. 

I'm Nick, i live in Miami, i see opportunities everywhere but being new to RE investing, it's hard to spot them. I would love to learn from the willing.   so, on that note, HELLO and Thank you in advance.