Lender’s Workshop Success: A $225K Credit Line

Eight months ago, four of us decided to try our hand at buying and selling homes. Through self-education during the first few months, we KNEW that we had hit on a good business. Also, we are still educating ourselves.

I don’t remember how we found CRE Online, but I bless the Lord that we did! Through CRE Online, we received (and still do receive) great encouragement from the articles and testimonials, bought some courses, and we also found a TERRIFIC workshop to attend: How to Get Lenders Fighting to Give You Money taught by Ed Garcia and Terry Vaughan. Attending the seminar and meeting Ed and Terry turned our business up! God bless ’em.

Marcie and I are certainly glad we attended the workshop. Not only were we able to make the connection with Ed and Terry, who made the workshop fun and enjoyable, but we also met MANY wonderful folks from around the country doing the same kinds of deals. New friends were made; fantastic ideas, stories and addresses were exchanged, and great fun was had by all!

Following the seminar, I worked directly with Ed on our business plan, and Ed is ALL positive. He coached me on how to write and present a positive plan to the president of our small, local bank. Previously, the banker had given us a very small credit line secured with a CD. After Marcie and I made the presentation, he gave us $225,000!

Having this credit line has enabled us to make “all cash” offers, and we make lots of offers. Since acquiring the larger credit line just six short weeks ago, the banker has been very impressed with the business we have conducted and has promised an increase in our line. We are shooting for a $850,000 line by the end of our first year. (Thank you, Terry Lape!)

At this time, we are concentrating on foreclosures and rehabs. For example, ten days ago we bought a house for $61,000+ and sold it within five days for $80,000. That’s $18,000+ in five days! What a business!

I want to personally thank Ed for all the mentoring hours. I haven’t counted the many phone calls I made to him and he made to me, but, even with his REALLY BUSY schedule, he made time for me, and I appreciate that. I consider Ed a fine friend. 🙂 Thank you!

I recommend this How to Get Lenders Fighting to Give You Money workshop to anyone wanting to leave the rat race and make serious money. Find a way to get there!

By CREOnline Contributor

A content contributor to the original CREOnline.com.