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All Forum Posts by: PK Patel

PK Patel has started 0 posts and replied 7 times.

Post: Real or Scam? Question on Business Line of Credit

PK PatelPosted
  • Real Estate Coach
  • Arlington Heights, IL
  • Posts 7
  • Votes 0

@ Wayne Brooks: Negative;  These are actual BANK lines, not vendor lines.  Thank you, sir.

Post: Real or Scam? Question on Business Line of Credit

PK PatelPosted
  • Real Estate Coach
  • Arlington Heights, IL
  • Posts 7
  • Votes 0

@ J Beard:  It seems that most people aren't bothered by personal guarantees.  As a matter of fact, almost EVERY credible lender (bank, credit union, crowd funding, ACH, MCA, and even hudge funds) requires a personal guarantee and considers personal credit in order to underwrite the character and financial habits of the individual that's operating the company.  This is how the financial system in our country works.  In banking, the only exceptions I've seen is after a company surpasses a certain level of gross sales (typically $10M/yr).  I'm sure there are exceptions to this rule on the secured lending side, however, our specialty is the unsecured debt sector.

I don't think I'm qualified to answer the commingling concern but I'm sure a competent attorney or accountant would be able to show his/her client the proper way to personally guarantee business funds without it being considered commingling.  

BTW: I believe the original topic of discussion was weather or not the company is legit.  I think I've provided overwhelming amount of facts that indicate that we're not only legit but there's a strong demand for the value-add service we provide.  I'm not sure how much more time I'll have to keep coming back to this thread.  It took me about four years to come back and write an answer to the original thread.  If anyone has any particular questions or concerns, please send me a message or an email. Til next time...

Post: Real or Scam? Question on Business Line of Credit

PK PatelPosted
  • Real Estate Coach
  • Arlington Heights, IL
  • Posts 7
  • Votes 0

Hi All,

I noticed this post on Google again.  I'm extremely excited to see that there has been more and more positive feedback from our clients and affiliates over the last couple years to prove all the early investigative work incorrect.  Although I cannot speak for any specific clients on this thread due to our privacy policy, I can assure you that our clients are getting funded with CASH lines (not Staples, Home Depot, and BP cards).  Lines with banks and credit unions.   We were new in 2011.  Since then, the following has occurred:

- We've raised over $100M in funding for small business owners and real estate investors.

- We've been complaint free with the BBB.

- Our staff increased by 2400%.

- We've quadrupled the size of our office.

- We were ranked on the Inc 500 list as one of the fastest growing companies in the United States: http://www.inc.com/profile/midwest-corporate-credit

Thank you all for your input.  We were able to use your negative comments as constructive criticism and help improve our processes and systems; the positive as motivation to go out and add value to even more clients.  I would like to extend my sincere gratitude to all. 

Post: Real or Scam? Question on Business Line of Credit

PK PatelPosted
  • Real Estate Coach
  • Arlington Heights, IL
  • Posts 7
  • Votes 0

Once in a blue moon, I have the time to type in "Midwest Corporate Credit, reviews" into google to see what comes up. This time, I saw this post.

Athena: Mikyle Jessen reports to me. I can attest to his honesty and integrity. The outline that he sent you on our program is exactly what we deliver.

Paul B: I appreciate your constructive criticism. We have modified our website to reflect our company address and phone number. How come your website doesn't reflect your corporate address? (I mean that with all due respect). Yes, I incorporated the company in Feb 2011. Before that, I operated as a sole-proprietor since it was a part time business for me (Real estate investing being the full time venture). You make comments such as "these business credit services are scams." That's about as silly as saying "all NYC cab drives are crooks." Yes, there are lot of corporate credit companies out there that make huge promises and charge $3K - $5K upfront before even taking on a client. We aren't one of them and to prove that, we charge NO up-front fees. We only charge our clients if we deliver results and get them CASH lines that can be transferred to their bank accounts and actually used to buy properties with. Other than visit our website and check out the Secretary of State's website, have you done ANY other due diligence on our company? Have you in any way communicated with any of our personnel? If not, sir, then is it fair to act like a cyber "superhero" and try to save all these innocent people from big bad corporate credit companies such as MWCC by posting such slanderous remarks on these forums? Don't get me wrong, I embrace the constructive criticism because it helps us grow and improve, however, to call us "scammers" is extremely inappropriate and unprofessional. As someone once said "small minds discuss other people, mediocre minds discuss events, and great minds discuss ideas and concepts." I suggest you participate in more productive forums in which ideas and concepts are discussed. Good day to you, sir.

Respectfully,

PK Patel
President
Midwest Corporate Credit, Inc
[ADDRESS REMOVED]

Post: To profile or not?

PK PatelPosted
  • Real Estate Coach
  • Arlington Heights, IL
  • Posts 7
  • Votes 0

Charles: I totally understand where you're coming from. Why wouldn't you want people to know what you do, what you're looking for, and what you're offering. I am brand new to this site and I've done my best to complete my profile the best I can. The only thing I wouldn't share is my address if I'm a home based business. As for secrets and tactics, I believe in sharing those with others on this website 100% (especially if the person that I'm assisting is in a completely different state and is not going to become a competitor in my local market). Some people are more reserved than others and don't see it that way.

Jason: Congrats on your first flip. Hope everything goes well for you.

Post: Any advice to a Newbie beginning to get discouraged??

PK PatelPosted
  • Real Estate Coach
  • Arlington Heights, IL
  • Posts 7
  • Votes 0

Three months is awful short time to get discouraged and give up. Especially when the average college degree takes 4 YEARS to obtain. I would recommend going to local Real estate investing clubs and networking more and getting in contact with local investors LIVE rather than over the internet.

Post: Green light our first flip!

PK PatelPosted
  • Real Estate Coach
  • Arlington Heights, IL
  • Posts 7
  • Votes 0

I agree with Jon and Bryan on this one. The comps have to be recent and you may have a hard time re-selling a 4 bedroom unless you have at least 2 full baths.