Latest / Earn Your Leisure / Study Hall: Business & Personal Credit Blueprint

Transcript

Study Hall: Business & Personal Credit Blueprint · Earn Your Leisure

0:00
Speaker 1: Behind those warm and cozy nights at home, Thousands of
0:03
Speaker 1: employees at BP go to work every day. People producing
0:07
Speaker 1: more US natural gas, people building grid scale solar capacity,
0:12
Speaker 1: people turning landfill waste gas into pipeline quality renewable natural gas,
0:17
Speaker 1: and people delivering all of that power where it's needed.
0:20
Speaker 1: They're part of almost three hundred thousand jobs VP supports
0:24
Speaker 1: across the country. Learn more at VP dot com Slash
0:27
Speaker 1: Investing in America.
0:30
Speaker 2: Yes, so let's get into this. We're going to bring
0:32
Speaker 2: my brother Jose Rodriguez on. And this is something that
0:36
Speaker 2: you know, a lot of people have been asking about
0:37
Speaker 2: for a long tom and surprisingly enough, it's one of
0:43
Speaker 2: these things that you know, we've talked about business. We
0:46
Speaker 2: talked about credit a few times, but i'll earn your
0:48
Speaker 2: leashes platform as far as like the podcast, you know,
0:51
Speaker 2: we haven't really talked about business credit too much, And
0:54
Speaker 2: I feel like we haven't even spoken about credit that much.
0:57
Speaker 2: We have had a few episodes about credit. Last episode
1:00
Speaker 2: that we had about credit, what's a year ago. Yeah,
1:04
Speaker 2: I was thirteen months ago when Jose came on. That
1:08
Speaker 2: was a big episode for us.
1:09
Speaker 3: So I feel like it would be a good time
1:11
Speaker 3: to we visit that conversation.
1:13
Speaker 2: Starting twenty twenty two, off Right headed into the second
1:16
Speaker 2: quarter to talk about business credit, talk about personal credit.
1:19
Speaker 2: And there's a lot of different things that's going on
1:21
Speaker 2: in the credit space. I just reported on something today
1:24
Speaker 2: as far as you know, banks allowing people to pay
1:27
Speaker 2: their rent with credit cards and things and that.
1:30
Speaker 3: So it's a lot going on. But Jose was going on.
1:32
Speaker 4: Brother, Hey, guys, is going on? Making you be good?
1:37
Speaker 5: Yeah?
1:38
Speaker 6: Perfect? Let me tell my volume a little bit.
1:39
Speaker 3: Yeah, yeah, man, how you're good?
1:41
Speaker 6: You're good?
1:41
Speaker 3: How's it going? Awesome?
1:43
Speaker 4: Good man.
1:43
Speaker 7: I appreciate you guys. Man, appreciate it. I appreciate you
1:45
Speaker 7: guys having to me back on no no column.
1:48
Speaker 6: Man, we haven't seen you in so long, but that
1:50
Speaker 6: was just early this month we lived together.
1:53
Speaker 4: Yeah, yeah, yeah, yep, yep yeah.
1:54
Speaker 6: When I told my wife, I said, yeah, we got
1:56
Speaker 6: Jose to night for opening roll maentn.
1:57
Speaker 8: She was just like, he's just one of the nicest people, like, yeah,
2:02
Speaker 8: out five, maybe not, he might be top two, maybe
2:05
Speaker 8: not too. Just the most genuine people we I've ever met.
2:08
Speaker 4: So so you, bro, I appreciate that. Man, means a lot.
2:11
Speaker 6: I'll see the new merch going off too. We got
2:14
Speaker 6: cash debt.
2:16
Speaker 7: Cash, don't use cash, don't use debit, use the AX.
2:20
Speaker 7: And then the business credit veteran had you know, since
2:22
Speaker 7: on the military promote business credit, so I figured I
2:25
Speaker 7: switch it up a little bit.
2:26
Speaker 6: I'll start generally I like it, I like it, I
2:29
Speaker 6: like it.
2:30
Speaker 2: So, yeah, anybody that's not familiar with Jose, he's been
2:33
Speaker 2: on our platform variety of different times, from Eyo University
2:37
Speaker 2: to the podcast to U recently just did ash Cash
2:41
Speaker 2: this show Inside the Vault. And then of course you
2:45
Speaker 2: know he's been working with DJ MVY and Caesar for
2:47
Speaker 2: a long time doing real estate seminars with them, MG
2:51
Speaker 2: the mortgage guy, the whole crew. So yeah, you know,
2:56
Speaker 2: expert in the field. As Choice said, definitely one of
2:59
Speaker 2: the nicest people, but one of the most knowledgeable people
3:01
Speaker 2: as well. So you know, it's definitely one of these
3:04
Speaker 2: topics that you can.
3:05
Speaker 3: Never cover up.
3:06
Speaker 2: Credit and it's something that you know, we talk about
3:09
Speaker 2: stocks every single week literally, so we talk about credit
3:12
Speaker 2: maybe a couple of times a year. You know, anytime
3:14
Speaker 2: we get a chance to talk about credit is something
3:16
Speaker 2: that you know is extremely beneficial because nobody knows it
3:20
Speaker 2: all tlue to myself. You know, as far as especially
3:23
Speaker 2: on the business credit side, but even on the personal
3:25
Speaker 2: credit side, there's so much stuff that changes, so many
3:28
Speaker 2: different you know, new rules, regulations, different agencies, bureaus, how
3:32
Speaker 2: to check your credit, how not to get you know,
3:36
Speaker 2: your credit identity taken and that can ruin your credit.
3:40
Speaker 6: How to leverage it, how to use it in the business.
3:42
Speaker 8: Then, like we're doing these things in real time, but
3:44
Speaker 8: we're learning from exercise.
3:46
Speaker 6: So that's that's that's why it's important.
3:48
Speaker 3: Yeah, extremely important.
3:50
Speaker 2: So so yeah, so I'll just give the quick rundown
3:52
Speaker 2: then we could just get into it.
3:53
Speaker 3: So what this is. We do this once a month
3:56
Speaker 3: and it's called open enrollment.
3:58
Speaker 2: So ey L University is a platform that we started
4:01
Speaker 2: and that is our private school as far as the
4:05
Speaker 2: education is concerned. Obviously everybody knows what we do. We're
4:07
Speaker 2: earning your LEAGI on market, Mondays, podcasts, Instagram, all that
4:11
Speaker 2: stuff every day free. But EUYL University is offline and
4:16
Speaker 2: that's hands on, twelve thousand students in there, earners in there,
4:20
Speaker 2: and that's we have a book club, movie club, I
4:22
Speaker 2: do my financial planning calls, MG does biweekly real estate.
4:25
Speaker 3: Calls, and one of the things that we have is
4:28
Speaker 3: we have.
4:28
Speaker 2: Weekly classes where it's a more hands on approach like Zoom,
4:32
Speaker 2: where people get to ask questions and you know, interact
4:35
Speaker 2: and different things of that nature. So we have what's
4:38
Speaker 2: called open and rollment to show people like what Eyo
4:41
Speaker 2: University is all about, and we do that the last
4:43
Speaker 2: Wednesday of the month. So the last Wednesday of the
4:46
Speaker 2: month is that, you know, we just pick a different topic.
4:48
Speaker 2: We've done real estate, we've done stock charts, options, you know,
4:52
Speaker 2: we've done pretty much everything with the opening rollments, but
4:54
Speaker 2: we haven't done really credit.
4:55
Speaker 3: So this is this is what this is going to be.
4:58
Speaker 3: So we'll go over this.
4:59
Speaker 2: We you can talk about Eyo University a little bit
5:02
Speaker 2: more in detail later on. I will drop the link
5:04
Speaker 2: for anybody that wants to join the Eyo University. But yeah,
5:07
Speaker 2: I don't even always too much time. I want to
5:09
Speaker 2: just get into it, and I know Jose got a
5:11
Speaker 2: lot to talk about, so yeah, let's let's let's get it.
5:15
Speaker 8: Hey, we got to mention that Jose is actually a professor.
5:18
Speaker 8: Oh yeah university. One of our prestiges ten your stieges,
5:21
Speaker 8: a ten yured professor is just that good.
5:24
Speaker 3: Yes, yes, yes, Jose, the floor is yours brother.
5:28
Speaker 4: Awesome man, Thank you guys. Once again. I appreciate you
5:31
Speaker 4: guys and your leisures.
5:32
Speaker 3: Definitely.
5:34
Speaker 7: You know a platform that you know, you guys having
5:36
Speaker 7: me on it, educating it on it.
5:38
Speaker 4: I really appreciate it and uh.
5:39
Speaker 7: The honor to be on here, to to give people
5:42
Speaker 7: knowledge on the.
5:43
Speaker 4: Personal and business credit.
5:44
Speaker 7: Man. I look forward to changing some lives today. Man,
5:46
Speaker 7: So let's get into it. Uh, those are you guys
5:48
Speaker 7: that that don't know me? My name is the credit dude,
5:50
Speaker 7: Jose Rodriguez. I served my country in the Marine Corps
5:54
Speaker 7: and now I'm serving the community through credit. I own
5:56
Speaker 7: a company called God Credit because you know, we're more
6:00
Speaker 7: more than just a credit repair company. It's it's it's
6:02
Speaker 7: it's there's a lot of power, as you guys can see,
6:04
Speaker 7: in education, in actual knowledge. And the thing is is
6:09
Speaker 7: it's not so much knowing how to fix your credit.
6:12
Speaker 7: It's it's I believe there's more power and learning what
6:15
Speaker 7: to do when you fix your credit and when you
6:17
Speaker 7: get your credit to a certain point.
6:19
Speaker 4: And that's what I'm here to teach you guys. You
6:21
Speaker 4: know what I mean.
6:21
Speaker 7: I think that a lot of people don't realize that
6:24
Speaker 7: even with a six eighty seven hundred credit score, you
6:26
Speaker 7: can make a lot of money, or you can start
6:29
Speaker 7: a business. You can still work you nine to five,
6:32
Speaker 7: and you can still do a lot of damage. And
6:34
Speaker 7: I think that one of the things that I really
6:35
Speaker 7: want people to understand is you don't need a perpose
6:37
Speaker 7: credit score, like you don't need an eight hundred. Stop
6:40
Speaker 7: chasing the you know, I make a joke all the
6:42
Speaker 7: time with the new balances.
6:43
Speaker 4: You know, you put the new balances on, you got
6:44
Speaker 4: a A fifty.
6:45
Speaker 7: The thing is is you don't need an a fifty,
6:48
Speaker 7: a eight hundred, even a seven fifty to really take
6:51
Speaker 7: your life to the next level. And the reason why
6:55
Speaker 7: is is because there's something called business credit. And business
6:59
Speaker 7: credit is one of those things where a lot of
7:00
Speaker 7: people may not understand it, but it's really easier than
7:04
Speaker 7: you think. But I always tell people, in order to
7:06
Speaker 7: truly understand business credit, you do have to have your
7:09
Speaker 7: personal credit on point, because this is the thing, how
7:11
Speaker 7: do you expect to manage business credit? How do you
7:13
Speaker 7: expect to still pay a credit card or or pay
7:16
Speaker 7: a all a loan on the business side, and line
7:18
Speaker 7: of credit and SBA loan or things like that, if
7:20
Speaker 7: you're ignoring your personal credit and and and so it's like,
7:24
Speaker 7: get your personal credit to a point where it's good.
7:27
Speaker 4: And then just use it and then just leave it,
7:29
Speaker 4: you know.
7:29
Speaker 7: Just leave it alone and use that to leverage more
7:33
Speaker 7: business credit. And so I'm gonna I'm gonna go over
7:35
Speaker 7: some topics today, guys. I have I have some powerpoints,
7:38
Speaker 7: but but I really want you guys and everybody watching
7:41
Speaker 7: to realize, like what what can a business credit card do?
7:44
Speaker 7: The thing is, you guys don't know what earn your
7:45
Speaker 7: leisure does you know that you guys do events everywhere,
7:48
Speaker 7: you know what I mean. You guys are are not
7:50
Speaker 7: even nationally, you guys all over the world, you know
7:53
Speaker 7: what I mean. So it's like, imagine not having the
7:56
Speaker 7: money right now to join or or buy a course
8:02
Speaker 7: that you guys offer, or attending event that you guys
8:06
Speaker 7: are throwing. But imagine if you throw. Imagine if you
8:09
Speaker 7: open up an LLC for the simple purpose of education,
8:11
Speaker 7: and that could be your business. Your business is you're
8:14
Speaker 7: educating yourself, and who knows what could happen when you
8:17
Speaker 7: attend and earn your leisure event but if you don't,
8:20
Speaker 7: if you didn't start that business, then you were afraid
8:22
Speaker 7: to find that perfect LLC and that perfect business, You're
8:25
Speaker 7: gonna be missing out on opportunities that could have you
8:27
Speaker 7: could have had if.
8:28
Speaker 4: You would attended an event a mastermind.
8:31
Speaker 7: And that's the thing is you having a business doesn't
8:34
Speaker 7: necessarily mean you have to have all this income coming in.
8:37
Speaker 7: You can still open up an LLC and reap the
8:40
Speaker 7: rewards of meeting meeting people in certain rooms, you know
8:45
Speaker 7: what I mean. And that is the thing is where
8:47
Speaker 7: I want to just touch base with you guys today.
8:49
Speaker 7: I'm gonna share my screen. That's cool, right to share
8:51
Speaker 7: my screen.
8:51
Speaker 4: A little bit, all right?
8:54
Speaker 6: Cool?
8:54
Speaker 7: So all right, guys, so got credit follow me on Instagram,
8:59
Speaker 7: you know, or you.
9:00
Speaker 4: Leave your hashtag the biggest all right.
9:03
Speaker 7: So when you guys come in here, so I always
9:05
Speaker 7: tell people, remember why you're here.
9:07
Speaker 4: Remember why, like remember why.
9:08
Speaker 7: You're a part of E Y L. And more importantly,
9:13
Speaker 7: you guys can see me good or see.
9:14
Speaker 4: The screen good?
9:16
Speaker 6: Yeah, you're good.
9:17
Speaker 7: Okay, Remember remember why you guys are here, and remember
9:20
Speaker 7: why you guys are doing everything with attending these these
9:25
Speaker 7: types of YouTube videos. Right, it's really become the person
9:29
Speaker 7: in your family that changes the way everyone moves.
9:31
Speaker 4: And you can do it.
9:32
Speaker 6: You go full screen for us, that would be great.
9:35
Speaker 4: Full screen. Okay, let me see it.
9:38
Speaker 7: Let me see all right, my bad share screen there
9:43
Speaker 7: you go.
9:43
Speaker 4: Okay, that's top. How's that?
9:50
Speaker 2: I mean, it's a it's still like the not the
9:53
Speaker 2: full thing, but it's all right, we manage it. See yeah,
9:58
Speaker 2: I think if you hit the presentation thing at the top.
10:00
Speaker 3: I gotcha.
10:01
Speaker 4: Yeah. This is this is this is the part that
10:04
Speaker 4: my VP does.
10:04
Speaker 7: Usually I don't this type of stuff because this is
10:08
Speaker 7: this is the marine inside of me, you know what
10:10
Speaker 7: I mean.
10:12
Speaker 6: Let me see if I might have clicked like slides
10:14
Speaker 6: show all.
10:16
Speaker 7: Right, slide yeah, I don't have like a present thing
10:19
Speaker 7: or anything like that.
10:20
Speaker 2: What I always all right, let me go back to zoom.
10:28
Speaker 4: Sorry about that, guys.
10:29
Speaker 7: This is sometimes why I don't do the proud points
10:31
Speaker 7: because it's like throws me off a little bit.
10:34
Speaker 3: All right, and.
10:37
Speaker 9: All right.
10:38
Speaker 7: So the thing is, guys, when it comes to your credit,
10:41
Speaker 7: I always tell people, remember why you're doing it, and
10:44
Speaker 7: remember the most important thing is it's not about yourself,
10:48
Speaker 7: Like you should never look at credit and and kind
10:51
Speaker 7: of be selfish.
10:52
Speaker 4: You should always look at.
10:53
Speaker 7: Credit as a as A as A as a as
10:56
Speaker 7: something bigger, like for your kids and for your grandkids. Right,
11:00
Speaker 7: And the goal is to make a business so that
11:03
Speaker 7: you can buy your time back with your family and
11:05
Speaker 7: become the best person you can be. Now, this is
11:07
Speaker 7: the thing. If it wasn't for credit, it kind of
11:09
Speaker 7: goes along with everything. If you have bad credit, if
11:12
Speaker 7: you have late payments, maxile credit cards, collection charge offs,
11:15
Speaker 7: you can typically look at the rest of your life
11:18
Speaker 7: and be like, something else just isn't right, you know
11:21
Speaker 7: what I mean.
11:22
Speaker 4: So if you get your your credit right, usually.
11:25
Speaker 7: Start going to the gym, you start buying better clothes,
11:28
Speaker 7: you start looking a little bit different, you start walking
11:31
Speaker 7: a little bit different.
11:32
Speaker 4: And that's the true power.
11:34
Speaker 7: And in something just something simple as credit, you really
11:38
Speaker 7: start to move different. Man.
11:40
Speaker 4: And and a lot of people are front of those
11:41
Speaker 4: store cards.
11:43
Speaker 7: But if you have good credit, you can afford maybe
11:45
Speaker 7: a little bit of to look a little bit better.
11:48
Speaker 7: Not more expensive clothes, right, but just have a better outfit.
11:51
Speaker 7: So that way, when you go to a networking event,
11:53
Speaker 7: and whatever the case is, it's really it's really all
11:56
Speaker 7: about mindset too.
11:58
Speaker 4: You know what I mean.
11:59
Speaker 7: I always tell people cash is king, but credit is
12:02
Speaker 7: the queen. And we all know who runs the castle,
12:04
Speaker 7: right at the end of the day, the queen runs
12:06
Speaker 7: the castle. And a lot of people think that cash
12:08
Speaker 7: is king, which it is, right, it is king. But
12:11
Speaker 7: it is easier to obtain one hundred thousand dollars in
12:13
Speaker 7: credit cards than it is to save one hundred thousand
12:16
Speaker 7: dollars in cash.
12:16
Speaker 4: And that's a fact.
12:18
Speaker 7: I can bet or do a versus with anybody on that,
12:21
Speaker 7: Dave Ramsey, whoever the case is right, it is a
12:24
Speaker 7: lot easier to build one hundred thousand dollars in credit
12:28
Speaker 7: than it is to save. So the goal is always
12:31
Speaker 7: to have forty five credit cards that each have twenty
12:33
Speaker 7: to thirty thousand dollars credit limits.
12:35
Speaker 4: And that'll completely change your life.
12:37
Speaker 7: Why because now you have that one hundred thousand dollars
12:40
Speaker 7: to start your business, to retire your mom, to hire
12:42
Speaker 7: your wife, and to do so many things that I
12:46
Speaker 7: did the same thing, you know what I mean, Like
12:48
Speaker 7: retire my wife, retire my mom. Right, my brothers worked
12:51
Speaker 7: for me, like my whole family, like you put everybody on.
12:53
Speaker 4: And it all started with credit.
12:55
Speaker 7: And it really started happening when I started doing a
12:57
Speaker 7: lot of business credit, you know what I mean. So
13:00
Speaker 7: just remember guys that there's a lot of power in credit.
13:04
Speaker 3: All right.
13:05
Speaker 7: Two things real quick that I always want to go
13:06
Speaker 7: over it because I do want people to understand that
13:09
Speaker 7: when it comes to your credit, if you're late, that
13:13
Speaker 7: can affect up to one hundred and ninety two point
13:15
Speaker 7: five points. And if you max out your credit cards,
13:17
Speaker 7: that's one hundred and sixty five points. I made a
13:19
Speaker 7: post on this the other day on Instagram. So if
13:21
Speaker 7: you max out a credit card and you're late, that
13:24
Speaker 7: can affect your credit score about three hundred and fifty points,
13:27
Speaker 7: you know what I mean.
13:27
Speaker 4: So make sure that you guys are still keeping that down.
13:30
Speaker 7: And this is why business credit is so powerful, and
13:33
Speaker 7: I'm gonna I'm gonna tell you guys why. All right,
13:36
Speaker 7: number this slide right here. Make sure you guys are
13:40
Speaker 7: monitoring your credit. You can go to god Credit Monitoring
13:42
Speaker 7: dot com to go ahead and monitor your credit for
13:45
Speaker 7: like twenty bucks a months. That's your personal credit. Okay,
13:48
Speaker 7: the business there's nav dot com, which I've talked about
13:50
Speaker 7: a lot. You want to get the business boost one
13:53
Speaker 7: and then D and B which is free to get
13:55
Speaker 7: your dun's number. All right, So guys, I know, I
13:58
Speaker 7: know I went a little quick there, But the thing
14:01
Speaker 7: is is you have to realize that one how credit works,
14:05
Speaker 7: and you always have to, always, always, always have to
14:08
Speaker 7: remember that a credit score is pretty much based on
14:13
Speaker 7: what you do on your credit. So if you're maxing
14:16
Speaker 7: out credit cards, if you're always late, if you're not
14:20
Speaker 7: paying on time, that is ultimately gonna hurt your credit,
14:23
Speaker 7: you know what I mean. And if you can't get
14:25
Speaker 7: that part down on the personal side, then when it
14:28
Speaker 7: comes to the business side, you're gonna think that doesn't matter.
14:32
Speaker 4: But maintaining on time payments, guys, is key.
14:36
Speaker 7: And the easiest way you guys can do that is
14:38
Speaker 7: put everything on autopage. One of the things that my
14:40
Speaker 7: mom first taught me when I got out the Marines
14:42
Speaker 7: is put everything on auto pay. Doesn't matter if it's
14:46
Speaker 7: a twenty five dollars payment or if it's a thousand
14:48
Speaker 7: dollars payment. Put everything on autopay and you can never
14:52
Speaker 7: be late. Right, So people like, oh, how do I
14:53
Speaker 7: prevent charge offs? Well, prevent late payments? How do I
14:56
Speaker 7: prevent late payments? Prevent a late payment by putting everything
15:00
Speaker 7: auto pay, you know what I mean. So it all
15:01
Speaker 7: starts with your habits in the beginning. To that way,
15:04
Speaker 7: you never get to the to the worst part possible,
15:07
Speaker 7: which is a charge off collection judgment, and then you've
15:10
Speaker 7: got to hire people like me.
15:11
Speaker 4: To help you out. But instead, if you teach your.
15:14
Speaker 7: Kids about automatic payments, your grandkids, your cousin Denise, like,
15:18
Speaker 7: you could really change a lot of lives just with
15:21
Speaker 7: the auto payment.
15:22
Speaker 4: And it's free, all right.
15:24
Speaker 7: So, as you guys know, there's been a lot of
15:26
Speaker 7: changes in the credit world and the credit space and
15:28
Speaker 7: things like that. One of the biggest ones, guys, that
15:31
Speaker 7: we've seen this year, which is pretty crazy, and I
15:34
Speaker 7: actually like it. A lot of people don't like it
15:37
Speaker 7: because it obviously if they're due credit repair, it's it's
15:39
Speaker 7: gonna affect their business. The thing is, guys, as of
15:42
Speaker 7: July of twenty twenty two, this is probably the biggest update.
15:46
Speaker 7: As of July of twenty twenty two, paid medical collection
15:50
Speaker 7: accounts are gonna come off the credit Okay, this is big.
15:54
Speaker 7: This is a lot of what I see when people
15:57
Speaker 7: hire us to like, yeah, I pay the collection accounts
15:59
Speaker 7: two years, a three years, ago. You know, I'm able
16:01
Speaker 7: to get a proof of credit cards and mortgages whatever
16:03
Speaker 7: the case is, but I just wanted off my credit.
16:05
Speaker 4: Well.
16:05
Speaker 7: The great thing is, guys, is now medical collections are
16:08
Speaker 7: gonna come off your credit if you pay them. That's powerful.
16:12
Speaker 7: Why because even after July of twenty twenty two, if
16:14
Speaker 7: you get a medical collection on your credit report and
16:17
Speaker 7: you pay it, you don't have to get that letter
16:20
Speaker 7: anymore that says, hey, will you remove this from my credit.
16:23
Speaker 7: This is gonna change the lives of so many people
16:26
Speaker 7: that were affected either by COVID you know, unfortunately, maybe
16:30
Speaker 7: had a surgery, a code pay, whatever the case is.
16:33
Speaker 7: So if you pay, if you have paid a medical
16:35
Speaker 7: collection right now, right, a lot of people are like, oh,
16:38
Speaker 7: I'm just gonna wait until July twenty twenty two to
16:40
Speaker 7: fix my credit. Like, don't wait, because that's like four
16:42
Speaker 7: months away. You still want to jump on still cleaning
16:45
Speaker 7: those blemishes.
16:46
Speaker 3: Now.
16:47
Speaker 2: The other thing is that's big, that's big, huge, it's huge,
16:51
Speaker 2: and the key word is paid.
16:52
Speaker 3: Right.
16:53
Speaker 6: They have to pay it off in order for it
16:55
Speaker 6: to come off correct.
16:56
Speaker 7: They have to pay it because back in the day,
16:58
Speaker 7: you have to if you pay the medical collection, it
17:01
Speaker 7: would still stay on there or yet work out an
17:03
Speaker 7: arrangement with that collection agency to remove it, which we
17:06
Speaker 7: all know doesn't always work, you know what I mean.
17:10
Speaker 7: The other thing is, which is which is probably my
17:14
Speaker 7: favorite thing of this is besides the paid collections, right,
17:20
Speaker 7: is that as of early next year of twenty twenty three,
17:23
Speaker 7: any medical collections that are under five hundred dollars won't
17:28
Speaker 7: even be reported. So if you have a medical collection
17:31
Speaker 7: that's four ninety nine, five hundred dollars and below, which
17:34
Speaker 7: is a copay which is maybe just you know, the
17:37
Speaker 7: co insurance or whatever the case is, even if it's unpaid,
17:41
Speaker 7: as of early of next year, those are not going
17:44
Speaker 7: to be reported anymore.
17:46
Speaker 3: Right.
17:46
Speaker 4: So that's my favorite part of this new medical bill
17:49
Speaker 4: that came out, is that.
17:52
Speaker 7: That's another thing that we see people with, you know,
17:54
Speaker 7: two hundred dollars collection, three hundred dollars collection, four hour collection,
17:57
Speaker 7: and it drops their credit score two hundred points, one
17:59
Speaker 7: hundred points, whatever the case is. And it's a copay. Man,
18:02
Speaker 7: I just forgot to you know, howny times. I forget
18:03
Speaker 7: to pay my cope all the time, like or they
18:05
Speaker 7: send me another bill. It happens guys, it's you know,
18:09
Speaker 7: we're human. We make mistakes, and I'm glad that the
18:11
Speaker 7: credit bureaus are not are not penalizing people anymore for that,
18:18
Speaker 7: you know what I mean. So the thing is is
18:20
Speaker 7: when it comes to that earlier next year, you're gonna
18:24
Speaker 7: start seeing those medical bills come off if they're under
18:27
Speaker 7: five hundred hours. Now here's the thing, guys, who are
18:29
Speaker 7: we talking about the credit bureaus. Do the credit bureaus
18:31
Speaker 7: really report accurate information? Absolutely not. Do the credit bureaus
18:35
Speaker 7: really do what they say they're gonna do, absolutely not.
18:38
Speaker 7: So don't expect this to be a home run automatically.
18:40
Speaker 7: You know what, July twenty twenty two, everything's gonna come off,
18:43
Speaker 7: and then early next year everything under five hundred is
18:45
Speaker 7: gonna come off.
18:46
Speaker 4: It is not gonna work that way.
18:47
Speaker 7: And I promise you that the credit bureas are gonna
18:49
Speaker 7: lag on it.
18:50
Speaker 4: They're not. They're gonna take their time.
18:52
Speaker 7: Right, But they do have like algorithms right where if
18:55
Speaker 7: it meets a certain criteria, it should fall off. But
18:58
Speaker 7: do expect to see some type of laves with that.
19:01
Speaker 7: And then the other third one when it comes to
19:03
Speaker 7: this is before it would be six months before a
19:07
Speaker 7: medical collection agency or a doctor or any medical provider
19:12
Speaker 7: can send your bill to collections. It will usually be
19:14
Speaker 7: six months. Now it's twelve months. So what that means
19:18
Speaker 7: is you have an extra six months to work out
19:20
Speaker 7: an arrangement with a medical bill to prevent it from
19:24
Speaker 7: going to collections. And I always tell people this, it
19:26
Speaker 7: doesn't matter what how much you have as a medical bill.
19:31
Speaker 7: Pay twenty five or fifty dollars a month and that's it.
19:34
Speaker 7: You never really want to put that on a credit
19:35
Speaker 7: card unless you know that you're going to pay it off,
19:37
Speaker 7: because now you're paying interest on something that you could
19:40
Speaker 7: have just made some payments on right So if you
19:43
Speaker 7: have medical bills right now, guys, and they're unpaid, it
19:46
Speaker 7: won't take into effect until July of twenty two for
19:50
Speaker 7: it to be twelve months. So reach out if you
19:52
Speaker 7: have medical bills, open your mail because I suck at
19:54
Speaker 7: that sometimes too, and just open the mail and start
19:57
Speaker 7: making arrangements so that way you don't have to hire
20:00
Speaker 7: someone to fix your credit. You don't mean pay the
20:02
Speaker 7: bills on time, keep your debt low, and the medical
20:05
Speaker 7: collections is the biggest thing is pay them off because
20:09
Speaker 7: as of July twenty twenty two, they're gonna come off
20:12
Speaker 7: your credit you know what I mean. Now, I'm not
20:13
Speaker 7: saying don't dispute it, right, you still have as a
20:16
Speaker 7: right as a consumer to dispute anything that you feel
20:18
Speaker 7: is inaccurate and and could be unverifiable. So still go
20:22
Speaker 7: after them if you feel like you know you're good,
20:24
Speaker 7: because it's the thing. If you're if you're a medical
20:26
Speaker 7: bill is unpaid and over five hundred dollars, even as
20:30
Speaker 7: of next year, it's still going to be on there,
20:31
Speaker 7: So you still want to you still want to take
20:33
Speaker 7: care of it, all right. The second thing is the
20:36
Speaker 7: Wells Fargo rank card that Rashad put on his Instagram.
20:40
Speaker 7: I think it's great you still do so Wells Fargo.
20:43
Speaker 7: Right real quick, I'm gonna wrote, Wells Fargo is a
20:47
Speaker 7: creditor that does pull experience. So there's Chase, and so
20:49
Speaker 7: does American Express. A lot of your creditors that drive
20:52
Speaker 7: like a high limit are gonna pull experience. So what
20:56
Speaker 7: does that mean? Even with this credit card? It is
20:59
Speaker 7: built off of this. It's called the built rewards, so
21:01
Speaker 7: be ilt rewards pretty much.
21:04
Speaker 4: They give you the credit card and through built is.
21:08
Speaker 7: Will you get the rewards and things like that that
21:10
Speaker 7: you can convert the cash and all that stuff, right,
21:13
Speaker 7: So you still need decent credit to do this.
21:16
Speaker 4: Now here's the thing.
21:17
Speaker 7: Be careful with this because even though the credit card
21:20
Speaker 7: does come with a limit and you can use it
21:23
Speaker 7: at certain places to pay your rent, if you max
21:27
Speaker 7: it out, it is going to drop your credit score. Okay,
21:29
Speaker 7: So just be careful with that that if you get
21:32
Speaker 7: you know, don't look at it as like, oh, man,
21:33
Speaker 7: I can pay three months of rent with this and
21:35
Speaker 7: then carry the balance, because there are going to be
21:38
Speaker 7: you know, penalties if you carry a high balance, and
21:40
Speaker 7: that penalty is going to be a lower credit score. Also,
21:43
Speaker 7: if it's like to my understanding, like let's say, if
21:46
Speaker 7: it's a place like you're renting from a house, right
21:50
Speaker 7: and they don't accept the credit card, right, and you're
21:52
Speaker 7: renting from like a landlord and things like that. A
21:54
Speaker 7: lot of places that are landlords, they don't either accept
21:57
Speaker 7: cash or money order. You can still pay with the
22:00
Speaker 7: credit card online and it'll mail them a check, you
22:03
Speaker 7: know what I mean. So that's pretty dope, but a
22:05
Speaker 7: lot of places probably won't accept it, Like your higher
22:08
Speaker 7: luxury in places they're gonna accept the Wells Fogle RNT card,
22:12
Speaker 7: which is good, but just remember that, you know, keep
22:15
Speaker 7: trying to keep the utilization low. So as soon as
22:17
Speaker 7: you pay your rent with that credit card, pay the
22:19
Speaker 7: pay the amount all so that way you don't carry
22:21
Speaker 7: a high balance. The two other things that that are
22:25
Speaker 7: probably one of the two of the most important things.
22:27
Speaker 4: Is to be careful.
22:28
Speaker 7: For guys, there's a lot of credit repair industry companies
22:32
Speaker 7: in this in this world right got credit can't do
22:35
Speaker 7: it all, you know what I mean. And I always
22:37
Speaker 7: say collaboration is bigger than competition, like how Matt says
22:41
Speaker 7: and anything like that. So guys, if you're doing credit repair,
22:44
Speaker 7: this is kind of like a warning. Not for me,
22:47
Speaker 7: and I'm not gonna put up the article to put
22:49
Speaker 7: anybody on blasts. But there was a company in Texas
22:52
Speaker 7: that was shut down for doing these two things, charging
22:55
Speaker 7: up front and providing their consumers tradelines. Okay, if you
23:00
Speaker 7: want to google it, I'm not going to bring it
23:01
Speaker 7: up because I don't feel like I don't want to
23:04
Speaker 7: do this on this platform where anybody that's on there,
23:08
Speaker 7: you know, the got in trouble.
23:09
Speaker 4: But just google it.
23:09
Speaker 7: FTC halts credit a pair company and it'll come up
23:12
Speaker 7: Federal Trade Commission, right, So just be careful with this
23:16
Speaker 7: because I know there's a lot of people that want
23:18
Speaker 7: to do credit. They want to do credit repair, and
23:20
Speaker 7: it's a really good industry to be in because you
23:21
Speaker 7: can change.
23:22
Speaker 4: A lot of lives.
23:23
Speaker 7: Just be careful with offering up front payments, meaning if
23:27
Speaker 7: you're charging people the same day that they sign up
23:29
Speaker 7: with you, just be careful with that, guys. And if
23:32
Speaker 7: you're enrolling with a company that charges the same day,
23:34
Speaker 7: be careful with that too.
23:36
Speaker 3: Right.
23:36
Speaker 7: There's usually a grace period as to when you can
23:38
Speaker 7: cancel and then you can charge that first payment or
23:41
Speaker 7: whatever the case is, and that's usually what the law allows,
23:45
Speaker 7: which is called CROW the Credit Repair Organizations Act, and
23:48
Speaker 7: then trade lines. Be careful with that too, you know
23:51
Speaker 7: what I mean. Like it's one of those things that
23:53
Speaker 7: you know, it's a grey area, but a lot of
23:56
Speaker 7: people that are getting in trouble are people that offer
23:58
Speaker 7: both up front payments and I'm not saying you can
24:01
Speaker 7: do either or if you're doing credit apair, just be
24:04
Speaker 7: careful because this industry, you know, it's it's I breathe
24:07
Speaker 7: and eat, and sleep it. So just be careful with
24:10
Speaker 7: doing things because not only a you're gonna be jeopardizing yourself,
24:13
Speaker 7: but I hate to see people get in trouble for
24:15
Speaker 7: stuff that could have been avoided, you know what I mean.
24:18
Speaker 4: So just just be very very careful with what.
24:21
Speaker 7: You're doing and how you're changing people's lives, because this
24:24
Speaker 7: industry can not only hurt the people that you're helping,
24:27
Speaker 7: but it could land you in jail. And you don't
24:29
Speaker 7: want to be the one that's in front of a
24:31
Speaker 7: newspaper or article that you got in trouble.
24:33
Speaker 4: Okay.
24:34
Speaker 7: The other thing with personal credit, you always want to
24:36
Speaker 7: use it to maximize for business credit.
24:38
Speaker 4: And that's what I mentioned before.
24:39
Speaker 7: All right, so guys, an alternative to building business credit
24:42
Speaker 7: to tradelines, Right, you guys can take a screenshot of this.
24:45
Speaker 7: I'm gonna give you guys my email address if you
24:48
Speaker 7: guys do want to copy the slides. All these cards, guys,
24:53
Speaker 7: are good cards to get to build credit. You gotta
24:56
Speaker 7: have a foundation, You gotta have some type of credit cards.
24:59
Speaker 4: You got to have something.
25:00
Speaker 7: You can't just expect the seven to fifty credit score
25:02
Speaker 7: with one credit card. Unfortunately, it's not the way it works.
25:05
Speaker 7: You can't expect to have an eight hundred credit score
25:08
Speaker 7: if you're eighteen, you know what I mean. You can't
25:10
Speaker 7: expect to have it an eight hundred credit score or
25:12
Speaker 7: seven fifty credit score if you're twenty seven thirty and you.
25:15
Speaker 4: Just started building your credit. You know what I mean.
25:18
Speaker 7: So these all, all of these accounts, guys take a
25:21
Speaker 7: screenshot of it self. Lender to save these account kickoff.
25:25
Speaker 7: They give you a five hundred dollars limit to buy
25:27
Speaker 7: something on their website. Grain it goes off of your
25:30
Speaker 7: checking account. Everybody should know who Capital one is. They
25:34
Speaker 7: give Starter Cards up to three thousand dollars, the Pedal
25:37
Speaker 7: Card up to ten thousand dollars, the Tomo Card Extra card,
25:42
Speaker 7: and the X one Those typically will go off of
25:44
Speaker 7: your bank account. So what does that mean? That means
25:47
Speaker 7: that if you have a personal checking account, which which
25:50
Speaker 7: believe it or not, a lot of people don't get
25:52
Speaker 7: a personal checking account, right If you owe money in
25:55
Speaker 7: check systems, if you ain't disputed it and you didn't
25:58
Speaker 7: and it didn't come off pay check systems. Check systems
26:01
Speaker 7: is the third party reporting agency that reports anything that
26:04
Speaker 7: you owe to banks and nowadays guys, our generation, our community.
26:09
Speaker 4: Right, they use cash app, they use Venmo.
26:12
Speaker 7: Why do you think they're putting all these protections and
26:15
Speaker 7: things like that on Venmo and cash apt because people
26:18
Speaker 7: were abusing it. Get a checking account. How do you
26:20
Speaker 7: expect to buy a house, get a mortgage, start a
26:23
Speaker 7: business if you don't have a checking account. Get a
26:25
Speaker 7: checking account. It's one of the sometimes the hardest things
26:29
Speaker 7: to do, but it's the easiest thing.
26:30
Speaker 4: To do, Okay. Pedal, Tomo, I mean a Tomo Extra
26:34
Speaker 4: card and X one.
26:36
Speaker 7: These are all credit cards that are typically going to
26:38
Speaker 7: approve you based on if if you have a really
26:40
Speaker 7: good checking account history and they don't run your credit.
26:44
Speaker 7: X one is the only one that runs your credit afterwards.
26:47
Speaker 7: And Solo's pedal, so they'll preapprove you. And if you
26:50
Speaker 7: get pre approved good these So if you look at
26:53
Speaker 7: it ten thousand, ten thousand, five thousand, five thousand, three
26:56
Speaker 7: thousand up up to Capitol one a thousand with grain,
26:59
Speaker 7: you're looking at twenty to thirty thousand dollars. Guys, and
27:01
Speaker 7: these startup credit cards. You don't need secure credit cards.
27:04
Speaker 7: You don't need to do tradelines. And this is the thing.
27:08
Speaker 7: A lot of people do tradelines because they're in patient. Guys,
27:10
Speaker 7: like you messed up your credit, you gotta wait, you
27:13
Speaker 7: know what I mean, You gotta wait your turn, Like
27:14
Speaker 7: you can't expect to have great credit overnight. Be a
27:17
Speaker 7: little bit patient, and I promise you that you're gonna
27:20
Speaker 7: get to where you gotta get to.
27:21
Speaker 4: Just put in the work, you know what I mean.
27:23
Speaker 10: You can't.
27:23
Speaker 7: There's no fast there's no pill to fast track good health.
27:28
Speaker 7: And there really is no secret letter or secret account
27:31
Speaker 7: that's gonna fast track you the good credit the right way.
27:34
Speaker 7: The last two accounts, guys, Pentagon Federal and Digital Federal
27:37
Speaker 7: Credit Union. These are two great accounts to have, especially
27:41
Speaker 7: if you're looking for a checking account and things like that.
27:43
Speaker 7: You could open up with five dollars and they give
27:46
Speaker 7: really good limits when it comes to even people that
27:48
Speaker 7: have subpart credit and subpart credit, guys, is like six
27:52
Speaker 7: hundred and six to twenty things like that. All right,
27:54
Speaker 7: So those ten accounts, guys, should get you to a
27:57
Speaker 7: point where if you have no credit at all, those
28:00
Speaker 7: are ten accounts that you can use right now to
28:01
Speaker 7: apply for credit.
28:03
Speaker 8: Take a screenshot for the ones that say bank account
28:05
Speaker 8: is like is there a minimum minimum you need to
28:07
Speaker 8: have inside the account, like maybe five hundred or a
28:09
Speaker 8: thousand dollars to get approved.
28:11
Speaker 7: It's crazy because I've seen people with no money in
28:14
Speaker 7: the account.
28:14
Speaker 4: But have good history get approved.
28:17
Speaker 7: And then I see people that have two thousand dollars
28:19
Speaker 7: in the bank one time and then have negative history before.
28:22
Speaker 4: So it's as long.
28:23
Speaker 7: As you don't have like a lot of negative balances
28:26
Speaker 7: in the bank account, you should be good. But you
28:29
Speaker 7: typically want to have at least a little bit of
28:31
Speaker 7: cash in there for when you apply.
28:32
Speaker 4: So that way, the can you know, give you a
28:34
Speaker 4: good limit perfect, you know what I mean. And then
28:37
Speaker 4: and then the.
28:37
Speaker 7: Thing is, if you don't have a bank account, get
28:40
Speaker 7: one with Pentagon Federal or Digital Federal Credit Union. You
28:43
Speaker 7: could do these all online and then open up a
28:47
Speaker 7: bank account, throw some money in there, do your direct deposit,
28:50
Speaker 7: and then apply apply with X one extra and Tomo
28:52
Speaker 7: and boom, now.
28:53
Speaker 4: You've got three credit cards.
28:54
Speaker 7: Like a lot of clients are getting a proof of
28:56
Speaker 7: fifty five hundred, ten thousand, you know what I mean,
28:58
Speaker 7: seventy five hundred. That's a game changer right there, because
29:01
Speaker 7: now you have access to credit that you didn't have
29:04
Speaker 7: to do with the tradeline or or a secure credit card.
29:08
Speaker 7: The worst thing you can do is get a secure
29:09
Speaker 7: credit card for five thousand dollars.
29:11
Speaker 4: Don't don't ever think you need to do that. All right,
29:14
Speaker 4: So guys, get.
29:16
Speaker 7: Your personal credit up, and guess what. If you have
29:18
Speaker 7: good personal credit, you can pre qualify with Wells Fargo,
29:21
Speaker 7: Bank of America, Chase, Capital One, American Express, Discover and
29:27
Speaker 7: they'll you could just go on their website, right on
29:29
Speaker 7: each of these companies websites and say, hey, I want
29:31
Speaker 7: to pre qualify before I actually apply for you. Next thing,
29:34
Speaker 7: you know you have good credit, Boom. Now you get
29:36
Speaker 7: a thirty thousand dollars Chase card, a fifteen thousand dollars Discover,
29:40
Speaker 7: three or four American Express cards.
29:41
Speaker 4: Boom. Now you're building.
29:42
Speaker 7: Your personal credit up so that way, when you start
29:45
Speaker 7: building business credit, it's a complete game changer, you know
29:49
Speaker 7: what I mean. It's a complete it's a complete, complete
29:51
Speaker 7: game changer, guys.
29:52
Speaker 4: And with business credit, here's the thing. When you when
29:55
Speaker 4: you really start.
29:57
Speaker 7: Focusing on the business credit and you get your personal
30:00
Speaker 7: credit to a point where it's good. Like I said,
30:03
Speaker 7: six eighty seven hundred guys, it doesn't need to be perfect.
30:06
Speaker 7: You really start moving differently, You really start to attract
30:10
Speaker 7: different people in your life because you're on a different mindset. Right,
30:15
Speaker 7: if you're focused on attending masterminds and attending events, going
30:19
Speaker 7: to invest vests, going to ear and you leisure workshops, right,
30:23
Speaker 7: and you might not have a business yet, but you're
30:26
Speaker 7: paying to get in certain rooms.
30:28
Speaker 4: You start try.
30:29
Speaker 7: Like you start looking at the people you grew up with, like, man,
30:31
Speaker 7: this guy hasn't done nothing like the last ten years.
30:33
Speaker 7: No wonder why I'm not even doing anything because I'm
30:36
Speaker 7: I'm around the wrong people. And and your credit can
30:40
Speaker 7: literally get you into rooms that you never thought possible.
30:44
Speaker 7: But your credit can get you in there. Why you
30:46
Speaker 7: can sponsor something. You can get a high level VIP ticket,
30:49
Speaker 7: you can travel first class and meet something like you
30:52
Speaker 7: know how many people I've met in the first class
30:54
Speaker 7: that were doctors, that were pharmacists, that were this, and
30:57
Speaker 7: they're like, yo, man, here's here's my car. Like I
31:00
Speaker 7: want to improve my credit. You know, I have a
31:01
Speaker 7: lot of medical debt or I have a lot of
31:03
Speaker 7: student loans. And you never know who you're gonna meet. Right,
31:06
Speaker 7: And with business credit, you can leverage your personal credit
31:10
Speaker 7: for higher limits. So, like I was saying before, it's
31:13
Speaker 7: easier to build one hundred thousand dollars credit.
31:15
Speaker 4: So imagine if you build your personal.
31:17
Speaker 7: Credit to like thirty or forty thousand dollars limits, you
31:20
Speaker 7: get to a certain point and then boom, you open
31:22
Speaker 7: up your LLC. Now you start traveling, you start going
31:25
Speaker 7: to earn your leisure events, you start going to masterminds,
31:27
Speaker 7: you start attending different events, and then there you're like,
31:30
Speaker 7: you know what, Wow, man, I'm tieding by nine to five.
31:32
Speaker 7: I already have my credit set up. I already have
31:34
Speaker 7: my business credit set up. I already have a one hundred
31:36
Speaker 7: thousand dollars on credit cards available. You know what, I'm
31:38
Speaker 7: gonna quit my nine to five.
31:40
Speaker 4: And this is the thing.
31:42
Speaker 7: Sometimes we hate our job so much that we stay
31:44
Speaker 7: there though, because we don't have anything else to do.
31:47
Speaker 4: Well, guess what, guys.
31:48
Speaker 7: Credit is a thing that can help you with making
31:51
Speaker 7: that decision to start your business. And it doesn't necessarily
31:54
Speaker 7: have to be Turo, Airbnb or real estate. There's so
31:57
Speaker 7: many other businesses that you can get into with your credit.
32:00
Speaker 7: The thing is, you can literally hide your credit card
32:02
Speaker 7: debt so now imagine you put all your credit debt
32:05
Speaker 7: on your business credit cards.
32:07
Speaker 4: When a mortgage lender runs your.
32:09
Speaker 7: Credit, you have no debt, but you have sixty thousand
32:13
Speaker 7: dollars on your business credit side. And a lot of
32:15
Speaker 7: people say, like, I don't really need five Amases, I
32:17
Speaker 7: don't need two Americans, I don't need this. Well, guess what,
32:20
Speaker 7: your credit score does need it. Because you can get
32:23
Speaker 7: these credit cards and still pay for the same things
32:25
Speaker 7: that you will with a personal credit card. Put it
32:28
Speaker 7: on the business side, and then now when you go
32:30
Speaker 7: get a house, you have zero debt. You qualify for
32:32
Speaker 7: a bigger house. You qualify your debt to income ratio
32:36
Speaker 7: was lower, and you're in a better position. You also
32:39
Speaker 7: maximize your loan approvals. Your all the loan approvals.
32:41
Speaker 3: Right.
32:42
Speaker 7: So now the crazy thing is is, over the last
32:46
Speaker 7: like four years, guys, I had high interest all the
32:49
Speaker 7: loans because my debt was high. I'm not afraid to
32:52
Speaker 7: admit it. The credit dude had a high credit card debt.
32:55
Speaker 4: And you know what I mean. I'm human, you know
32:58
Speaker 4: what I mean.
32:58
Speaker 7: But when I've really started with business credit, everything started
33:02
Speaker 7: shifting to my business credit side. And now all I
33:05
Speaker 7: have on my personal credit report is one auto loan.
33:09
Speaker 7: As you guys know, Range Rover. They still require to
33:11
Speaker 7: do a personal guarantee in the business and things like that,
33:14
Speaker 7: so it still shows up on my personal credit but
33:16
Speaker 7: every other car that I have is on my business side.
33:19
Speaker 7: So when I went for this house that I just bought,
33:22
Speaker 7: my income did not change. My income was the same
33:25
Speaker 7: from twenty seventeen. But guess what changed my debt. I
33:29
Speaker 7: had zero credit card debt and I had one auto loan,
33:33
Speaker 7: which was the range Rover, right, So that means that
33:35
Speaker 7: I was pre approved for like I think it was
33:37
Speaker 7: like three times the amount because I had no debt
33:41
Speaker 7: and I was able to prove that the range Rover
33:43
Speaker 7: I had was being paid for my business checking account,
33:46
Speaker 7: so that way they excluded that from my debt to
33:49
Speaker 7: income ratio. So it literally I had zero debt, I
33:52
Speaker 7: had my wife's income, I had my via income, zero
33:54
Speaker 7: money down, and then the money that I had from
33:56
Speaker 7: selling the other house, I was able to get the
33:59
Speaker 7: house of my wife dreams, you know what I mean.
34:01
Speaker 7: And that was all because I was able to hide
34:03
Speaker 7: all my debt on my business credit side. And then
34:06
Speaker 7: a lot of stuff becomes a business right off, you
34:08
Speaker 7: know what I mean. And my favorite part, guys about this,
34:12
Speaker 7: and it really is my favorite thing about business. And
34:15
Speaker 7: if it's my favorite thing about business owning.
34:18
Speaker 4: A business is health insurance. What do a lot of
34:21
Speaker 4: people in our community not have access to health insurance?
34:25
Speaker 7: Why because either their job doesn't do it or they
34:28
Speaker 7: don't think that they can get health insurance.
34:30
Speaker 4: Well, guess what.
34:31
Speaker 7: One check with your accountant and check for your attorney,
34:33
Speaker 7: right because I'm not an attorney and I'm not an accountant, right.
34:36
Speaker 7: But get in the LLC, get your EI in, get
34:39
Speaker 7: everything set up, and if you have a family, you
34:41
Speaker 7: can get health insurance through your LLC. They don't ask
34:44
Speaker 7: for income, they don't ask for anything when you get
34:46
Speaker 7: your health insurance. Right, I was paying I think eighteen
34:50
Speaker 7: hundred dollars for just Kelly and Payton when I was
34:54
Speaker 7: getting insurance through the private market.
34:56
Speaker 4: When I started doing it through the LLC.
34:58
Speaker 7: Now it's a thousand dollars, like a eleven hundred dollars
35:00
Speaker 7: a month from me Kelly and Payton. And my insurance
35:03
Speaker 7: is top notch, to the point to where when I
35:06
Speaker 7: had COVID and I was sick in the hospital, people said,
35:09
Speaker 7: do you work in the hospital. I'm like, no, why
35:11
Speaker 7: because we've never seen anybody with this health insurance. This
35:13
Speaker 7: is the health insurance that we have as hospital employees.
35:16
Speaker 7: My insurance is on point, you know what I mean,
35:19
Speaker 7: And it's all through my LLC.
35:20
Speaker 4: So now what happens. Every single payment.
35:23
Speaker 7: That I make for my health insurance through my business
35:25
Speaker 7: is one hundred percent right off. When you have health
35:28
Speaker 7: insurance your nine to five job and they take it
35:30
Speaker 7: out of your paycheck, that's.
35:31
Speaker 4: Not a write off. That company's writing it off.
35:34
Speaker 7: Well, now if you have health insurance and you get
35:36
Speaker 7: an LLC, you can write that off. And that's what
35:38
Speaker 7: I'm saying. Just check with your account, check with your attorney,
35:41
Speaker 7: because this is a big benefit also to getting a
35:44
Speaker 7: business right, So guys, start that LLC right.
35:48
Speaker 4: Creating an LLC is a lot cheaper than you think.
35:50
Speaker 4: You have a lot of resources.
35:51
Speaker 7: You go to legal Zoom as attorneys in in earn
35:54
Speaker 7: your leisure right, or you can just go on your
35:56
Speaker 7: webs on the state website and do it yourself, you
35:59
Speaker 7: know what I mean. Use your personal credit to secure
36:02
Speaker 7: higher limits and then just leave your personal credit alone
36:04
Speaker 7: because there's a lot of power and business credit. Guys,
36:07
Speaker 7: there's so much power that you think, all right, high limits.
36:10
Speaker 4: You can get a line of credit.
36:12
Speaker 7: There's a there's a company called Fundbox f U N
36:14
Speaker 7: D b o X Fundbox that you can apply for
36:19
Speaker 7: a line of credit with them and they'll say, hey,
36:21
Speaker 7: you can either get a line of credit or we'll
36:22
Speaker 7: give you a loan and you can choose which one
36:24
Speaker 7: you want, and it's all based off of the revenue
36:27
Speaker 7: that's going into your business. Right, and there's another company
36:30
Speaker 7: called blue Vine. Right, so let me just I could
36:32
Speaker 7: type this in right quick so you guys can make
36:34
Speaker 7: sure you spell it right.
36:35
Speaker 4: Is Fundbox.
36:36
Speaker 2: Let me just let me just add while you're typing
36:38
Speaker 2: in Jose great information. Everybody, hit the like button. Hit
36:42
Speaker 2: the like button, show me important. If you're on your phone,
36:45
Speaker 2: just hit the X and you can see the like button.
36:47
Speaker 2: But I'll add to this business credit conversation, it is
36:50
Speaker 2: very very important business credit. As you said, the limits,
36:54
Speaker 2: Like I'll take my own personal example, or have like
36:56
Speaker 2: an eight hundred credits.
36:57
Speaker 3: Or something like that.
36:58
Speaker 2: And I don't know how much personal credit card limits
37:02
Speaker 2: I have. But let's say all together, it's like I
37:05
Speaker 2: don't know fifty thousand something like that, just throwing the
37:07
Speaker 2: number out there. But on the business side, it's pretty
37:10
Speaker 2: much on limited. So we have like an AX we
37:12
Speaker 2: have two Amex cards, one for Eyo University, one for
37:14
Speaker 2: Ernie Leisure, and it started with like they each started
37:17
Speaker 2: with like fifty thousand dollars limits and then as we
37:21
Speaker 2: use them now I don't know what the limit is.
37:23
Speaker 3: What is there a limit?
37:24
Speaker 6: Now it's like they actually we got on the phone
37:26
Speaker 6: with them last week.
37:27
Speaker 8: They actually called us because you know, they sort of
37:29
Speaker 8: the points that were accumulated and like, look, you guys
37:31
Speaker 8: could actually get more. And so I know it's probably
37:34
Speaker 8: six figures at this point because of.
37:36
Speaker 2: Meaning, so we we spend probably close to one hundred thousand,
37:39
Speaker 2: maybe over one hundred thousand dollars a month on these
37:41
Speaker 2: credit cards. Now it is extremely important to be financially
37:45
Speaker 2: responsible because like the cards that we have, we pay.
37:47
Speaker 2: We have to pay every single month. So it's not
37:50
Speaker 2: like a a gimmick where you can just you know,
37:53
Speaker 2: run up a business credit card.
37:55
Speaker 3: You still got to pay it.
37:56
Speaker 2: So don't use the credit card if you can't pay it, right,
37:59
Speaker 2: that's financial literacy responsibility, But it gives you so much
38:03
Speaker 2: more leverage than personal credits because I still don't have
38:06
Speaker 2: that kind of limit on my personal side, and I
38:08
Speaker 2: have excellent credit SCRD and I've had these credit cards
38:11
Speaker 2: for years, like over ten years, and we just got
38:14
Speaker 2: the MX cards last year and.
38:17
Speaker 3: We have over six figures that we can use.
38:21
Speaker 2: Like you know, I brought by my watches, about all
38:23
Speaker 2: my watches on a credit card because that's the only
38:25
Speaker 2: way that I can do it. Other than that I
38:27
Speaker 2: have to get like a whole like process to actually
38:30
Speaker 2: get you know, a certified check from the bank, and
38:33
Speaker 2: you know, you can't take out that kind of money
38:35
Speaker 2: from the bank, and it's a whole headache. So I
38:37
Speaker 2: could just use my MX card. Then I just pay
38:38
Speaker 2: it back right away and just transferred from my personal
38:41
Speaker 2: account to the to the business account. So having a
38:44
Speaker 2: business credit card gives you so much leverage, and as
38:46
Speaker 2: long as you use it responsibly, they up your they
38:49
Speaker 2: up your limits all the time.
38:52
Speaker 7: Yeah, yeah, man, no, man, I definitely think you hit
38:55
Speaker 7: the nail on the head with that.
38:58
Speaker 9: You know.
38:58
Speaker 7: The great thing about American Expresses, you know, I started,
39:03
Speaker 7: you know, everybody knows I found bankruptcy. American Express was
39:06
Speaker 7: in my in my thing, in my bankruptcy, whatever the
39:08
Speaker 7: case is. I finally got my credit cards back in
39:09
Speaker 7: twenty twenty. I got two of them back, and then
39:12
Speaker 7: last year I applied for six more, so I got
39:14
Speaker 7: eight MX's And when I got those other six, they
39:17
Speaker 7: started me with ten thousand dollars precess spending limits, so
39:20
Speaker 7: there was no limit butt a. You get a precess
39:23
Speaker 7: spending limit of how much you can spend per card,
39:25
Speaker 7: and right now, and that was July of twenty twenty one.
39:30
Speaker 7: We're in March of twenty twenty two and I'm already
39:33
Speaker 7: at like one fifty per card, you know what I mean.
39:36
Speaker 7: So this personal credit is not going to do that,
39:39
Speaker 7: just like Rashad said. And the great thing is you
39:41
Speaker 7: don't need it to use your run run your business
39:44
Speaker 7: credit up, so now you can actually get like imagine
39:47
Speaker 7: if you have with four cards two hundred and fifty
39:49
Speaker 7: thousand dollars each, that's a million dollars in credit. Like
39:52
Speaker 7: you can't where can you get a million dollar loan?
39:54
Speaker 7: Where can you get a million dollar line of credit?
39:57
Speaker 7: Your credit and your business credit is going to lie
40:00
Speaker 7: do it just like you said, man, just be careful
40:01
Speaker 7: when you run that up. Just make sure you pay
40:04
Speaker 7: it off, because you know you don't want to mess
40:06
Speaker 7: up your relationship with the American Express at all in
40:09
Speaker 7: any type of way.
40:10
Speaker 8: Yeah, I just I just add real quick goes because
40:13
Speaker 8: when just sold that story about business credit, I actually
40:15
Speaker 8: opened up my own LLC probably like maybe eight six
40:19
Speaker 8: to eight months ago. And because on your episode when
40:22
Speaker 8: I talked about being a personal guaranteur and having a
40:25
Speaker 8: line of credit through my parents, right, like I was
40:27
Speaker 8: an authorized user and so my.
40:29
Speaker 6: Credit history was so long.
40:30
Speaker 8: When I opened up my own LLC, the first thing
40:32
Speaker 8: they said was like, would you like a line of credit?
40:33
Speaker 8: I'm like, all right, fine, I'll just take it. When
40:35
Speaker 8: I applied for it, they automatically qualified me for fifty
40:38
Speaker 8: thousand just because of my history. Like I haven't even
40:41
Speaker 8: used the card, but just to know that I have it.
40:43
Speaker 8: This is one of those things like when you're responsible
40:45
Speaker 8: and as parents, if we're responsible and you have your
40:47
Speaker 8: kids as authorized use it and help build their credit
40:50
Speaker 8: when they go to open up the LC, that all
40:51
Speaker 8: that's going to count, right because it's a new business,
40:53
Speaker 8: so you're using you as a personal guaranteur at first,
40:56
Speaker 8: but if the credit is good, these type of things
40:58
Speaker 8: can happen.
40:59
Speaker 7: Yeah, And I think think a lot of people are
41:00
Speaker 7: scared of the word personal guarantee because they're like, oh,
41:04
Speaker 7: I want to build business credit without my credit. I'm like, well,
41:07
Speaker 7: you got to start somewhere, and if you can use
41:09
Speaker 7: your like if they say, hey, man, you got good credit,
41:11
Speaker 7: we'll give you fifty grand, Like, give me that all day.
41:14
Speaker 7: So don't be afraid to use your personal credit as
41:17
Speaker 7: leverage to get business credit because that's truly like how
41:21
Speaker 7: you're going to do it the right way with getting
41:22
Speaker 7: those high limits.
41:23
Speaker 9: Man.
41:23
Speaker 4: So that's dope, man. Congratulations, love to hear something like that. So, guys,
41:28
Speaker 4: the two.
41:28
Speaker 7: Companies that I said is Fundbox and Blue Vine. Those
41:32
Speaker 7: are two places guys that you can get a line
41:34
Speaker 7: of credit and even a loan even if you have
41:37
Speaker 7: subpar credit, right, but as long as you have some
41:39
Speaker 7: type of revenue coming through the business, you can do it.
41:42
Speaker 4: And the other area, guys, that's really good. I don't
41:46
Speaker 4: you know. I recommend Chase. I love Chase.
41:49
Speaker 7: I think they're one of the best bank accounts out
41:50
Speaker 7: there for business just because they're national and if you
41:53
Speaker 7: need anything, you can always if you're in Texas or California.
41:56
Speaker 7: You could always access to Chase Bank, right but Bank
41:59
Speaker 7: of America has a pre dope program. You open up
42:01
Speaker 7: a business checking account with Bank of America, you know,
42:04
Speaker 7: you deposit money, whatever the case is, use money, and
42:07
Speaker 7: typically after ninety days they will they will offer you
42:11
Speaker 7: a line of credit as well.
42:13
Speaker 4: And that's just access to cash. So what can you
42:15
Speaker 4: do with a line of credit? A lot of stuff.
42:17
Speaker 7: Imagine if Bank of America, Blue Line and FunBox each
42:20
Speaker 7: KB thirty thousand. Imagine if that's ninety grand right there.
42:23
Speaker 7: Imagine if each American Express Card gave you twenty five
42:25
Speaker 7: thousand to start boom, that's another one hundred thousand.
42:27
Speaker 4: Next thing you know you're at. You're at almost a half.
42:29
Speaker 7: A million dollars between personal credit, business credit, lines of
42:32
Speaker 7: credit net thirties.
42:34
Speaker 4: It's endless, you know what I mean?
42:36
Speaker 7: And that is truly like if I would have had
42:38
Speaker 7: even five thousand dollars when I opened my business, it
42:42
Speaker 7: would have been a game changer.
42:43
Speaker 4: I had nothing.
42:44
Speaker 7: I had no I have five hundred bucks, you know
42:46
Speaker 7: what I mean. So the other thing too, guys, with purchasing.
42:48
Speaker 4: The equipment, what do you need?
42:50
Speaker 9: You need?
42:51
Speaker 4: You need a computer.
42:52
Speaker 7: You need a MacBook, you need an iMac, you need
42:55
Speaker 7: photography equipment, you need a TV, you need microphones.
42:58
Speaker 4: Guys, you can do that with Apple and Dell. And
43:01
Speaker 4: the other one too that I forgot to put here
43:02
Speaker 4: as well is Amazon.
43:05
Speaker 7: Amazon offers net thirty accounts and also invoice accounts, so
43:09
Speaker 7: you could actually go on Amazon. I think everything's on Amazon.
43:12
Speaker 7: You can even buy food, clothes, whatever the case is.
43:14
Speaker 7: Amazon will actually also offer you a business credit card,
43:18
Speaker 7: not the American Express one, okay. Actual Amazon has like
43:21
Speaker 7: a store account that you can get. And imagine if
43:25
Speaker 7: now you want to start a photography business, you want
43:28
Speaker 7: to start a video editing business, you want to start
43:30
Speaker 7: any business. You need equipment, you need a computer, you
43:33
Speaker 7: need good equipment. Dell, Apple and Amazon are three places
43:37
Speaker 7: that you can literally get credit, okay. And if you
43:40
Speaker 7: got to use a personal guarantee to get it, it's okay,
43:43
Speaker 7: it doesn't matter. And also, guys, the other one, you
43:46
Speaker 7: guys can just google this. Walmart is it's called Walmart
43:51
Speaker 7: Community Card. They're giving right now, the Walmart Community Business Card, okay,
43:57
Speaker 7: is giving right now. I believe it's anywhere between five
44:00
Speaker 7: to ten thousand dollars. I think everybody goes to Walmart.
44:03
Speaker 7: I don't really don't know anybody that doesn't go to Walmart. Okay,
44:06
Speaker 7: but Walmart will give you anywhere between five to ten
44:09
Speaker 7: thousand dollars, no personal guarantee.
44:11
Speaker 4: So this is another great credit card to have to build.
44:14
Speaker 7: Your business credit. What do they have at Walmart? Bestarts
44:17
Speaker 7: closing food? They have TVs, they have video equipment, they
44:19
Speaker 7: have cameras, they have iPhones, they have you know, blenders,
44:23
Speaker 7: they have everything, pots and pans. If you're a cooking
44:25
Speaker 7: you want to start a cooking business, whatever the case is,
44:28
Speaker 7: if you want to start a bakery business is endless.
44:31
Speaker 4: Guys.
44:31
Speaker 7: You got to think outside the box when it comes
44:34
Speaker 7: to starting a business, and that's truly what business credit does.
44:38
Speaker 7: It allows you to think outside the box. Net thirty
44:41
Speaker 7: accounts are great, right, I still love Net thirty accounts.
44:44
Speaker 7: I've done a lot of videos for aerin your Leisure
44:48
Speaker 7: on which type of Net thirty accounts to get. There's
44:50
Speaker 7: the U lines, there's those type of credit cards with guys.
44:53
Speaker 7: Gas cards is a game changer, like like, look, I
44:57
Speaker 7: just got that.
44:58
Speaker 4: This is one of the credit cards I have.
45:00
Speaker 7: It's called Fuman, right, Feuman gave me twenty five thousand
45:04
Speaker 7: dollars credit card.
45:06
Speaker 4: You know what I mean?
45:07
Speaker 7: What what you need, what you're gonna get. You ain't
45:10
Speaker 7: gonna use twenty five thousand dollars in gas, you know
45:13
Speaker 7: what I mean. But the great thing is is if
45:15
Speaker 7: you have sales reps, if you have drivers, if you
45:17
Speaker 7: have other people working for you, whatever the case is,
45:19
Speaker 7: gas is expensive. But if you that's a business expense. Hey, everybody,
45:22
Speaker 7: he's a gas card. Whatever the case is. Now gas
45:24
Speaker 7: is not an option. Hey, go to this event, do this,
45:26
Speaker 7: do whatever the case is. And it's a revolving credit card.
45:29
Speaker 7: So even if you max it out, it doesn't matter
45:32
Speaker 7: because that business credit card debt is on the business side,
45:35
Speaker 7: it's not on your personal credit. So even if you
45:37
Speaker 7: run up five thousand dollars in gas, but you know
45:40
Speaker 7: you're gonna make it back and going to the events
45:41
Speaker 7: and dropping off merch and doing this, whatever the case is,
45:45
Speaker 7: it's okay. So anytime you go to a gas station,
45:48
Speaker 7: look at the actual credit cards of what they accept,
45:52
Speaker 7: whether it's wex, Feman whatever, fleet cars they accept seventy six,
45:57
Speaker 7: whild WAT seven to eleven quick Check all these places.
46:00
Speaker 4: Have gas cards.
46:01
Speaker 7: So if you eat there and you put gas in
46:03
Speaker 7: your car, why not get a gas.
46:05
Speaker 4: Card from the places? Next thing, you know, you get
46:07
Speaker 4: a sturt. Beat's right off.
46:08
Speaker 7: Because you're going there to put gases at the same time,
46:10
Speaker 7: all right. And then the last thing, guys, is putting
46:13
Speaker 7: the vehicles in your business name.
46:15
Speaker 4: If you are.
46:16
Speaker 7: Watching this and you're never gonna get a business, this
46:19
Speaker 7: is the thing a lot of people say, once again,
46:20
Speaker 7: get where your account, get with your attorney. Oh, if
46:23
Speaker 7: you don't actually have a revenue or whatever the case is,
46:25
Speaker 7: you can't really put a car in your business.
46:27
Speaker 4: There are certain places that.
46:28
Speaker 7: Still will that will still do it if you have
46:31
Speaker 7: strong business credit or you use your personal credit as
46:34
Speaker 7: a guarantee. Now, not every place is gonna do it, obviously,
46:37
Speaker 7: with some places you still gotta show bank statements.
46:40
Speaker 4: You just gotta sell personal credit.
46:41
Speaker 7: But trying to get like a you know, a car
46:44
Speaker 7: that's under like sixty seventy thousand dollars, they typically won't
46:47
Speaker 7: really bug you for a lot of paperwork, and you
46:49
Speaker 7: can use that to put touro, you can use that
46:51
Speaker 7: to rent out.
46:52
Speaker 4: You know, it's endless.
46:53
Speaker 7: So don't think that just because you don't have a
46:57
Speaker 7: business right now. But you need a car to get
47:00
Speaker 7: to start a business, or to drive to an EYL
47:03
Speaker 7: event or to drive to a networking event.
47:05
Speaker 4: If you ask me, that's you're starting.
47:07
Speaker 7: You're starting your business and you can still become an
47:09
Speaker 7: entrepreneur without having any revenue coming into your your bank account.
47:13
Speaker 4: All right, guys, So if you.
47:14
Speaker 7: Guys want to connect with me on Instagram, all right,
47:17
Speaker 7: the credit dude, You guys can just click the link
47:19
Speaker 7: in my bio or schedule a call with us if
47:21
Speaker 7: you guys can extra help. But if you guys become
47:23
Speaker 7: a part of e y L. You guys know this
47:25
Speaker 7: open enrollment. You guys get me every month and I
47:27
Speaker 7: love to educate. I love to educate, so you know,
47:30
Speaker 7: join the e y L guys and you guys have
47:32
Speaker 7: get me educating you guys every month as well.
47:34
Speaker 2: No, I appreciate that. Appreciated, brothers. So were about to
47:37
Speaker 2: go into the question and answer part. But before we
47:39
Speaker 2: do that, can you just briefly talk about for anybody
47:41
Speaker 2: I know we talked about it before before. Anybody that
47:43
Speaker 2: may be new haven't heard of it. The NAV and
47:48
Speaker 2: duns and brash you yep.
47:50
Speaker 7: So, so NAB dot com guys is uh na v
47:54
Speaker 7: dot com is the business credit monitoring uh plot, I
48:00
Speaker 7: guess I can say. So, you guys know, there's credit Karma,
48:03
Speaker 7: there's ECHOFAX monitoring, there's Experience Monitoring, things like that. So
48:08
Speaker 7: nav dot Com provides the business credit monitoring for each
48:12
Speaker 7: business credit report. There's EQOFAX, Business, Experience Business, and then
48:17
Speaker 7: there's You're done in Bradstreet. Right, So when you sign
48:20
Speaker 7: up for nav dot com Business Boost and you make
48:24
Speaker 7: your monthly payment to them, it's like forty bucks a month,
48:26
Speaker 7: they actually will report a payment to each of the
48:29
Speaker 7: business credit bureaus, so that way it actually activates each
48:33
Speaker 7: of your business credit profiles. If you have no business credit,
48:36
Speaker 7: so imagine you pay Experience dot Com thirty dollars a
48:40
Speaker 7: month and they report that payment to the personal credit
48:43
Speaker 7: reports to build your credit. It doesn't happen, it doesn't exist,
48:46
Speaker 7: but on the business side it does. We're done in Bradstreet.
48:50
Speaker 7: That is pretty much the biggest business credit reporting agency
48:55
Speaker 7: like Equifax, Experience, TransUnion, it's just the biggest one for
48:58
Speaker 7: the business side. And they have what's called the Dun's number,
49:02
Speaker 7: A Dune's number is kind of like your social kind
49:04
Speaker 7: of like your.
49:04
Speaker 3: E I N.
49:05
Speaker 7: It just classifies you as a business and it's kind
49:09
Speaker 7: of like your reporting number. So a lot of times
49:12
Speaker 7: when you apply for business credit, they're gonna ask you
49:14
Speaker 7: for a DUNS number and you can go on DMB
49:17
Speaker 7: dot com and get it for free. You don't got
49:18
Speaker 7: to pay anybody to do it. You don't got to
49:20
Speaker 7: pay dun and Bradstreet to do it. It's all free.
49:23
Speaker 8: So when when we talk about business credit, I mean
49:24
Speaker 8: when we talk about personal credit, we know that the
49:26
Speaker 8: score range goes from what three fifty to maybe a
49:29
Speaker 8: fifty right, So obviously in the business side, how is
49:32
Speaker 8: that score translated?
49:34
Speaker 3: Is different?
49:35
Speaker 8: I know, does D and B doesn't report, doesn't report
49:37
Speaker 8: the same way because it's like the E I N number.
49:39
Speaker 6: How does that score get calculated?
49:41
Speaker 7: So on the on the business on the Dune and
49:43
Speaker 7: brad Street it goes from zero to one hundred.
49:45
Speaker 4: So that's the pay that score. It goes from zero
49:47
Speaker 4: to one hundred.
49:48
Speaker 7: And typically if you pay your bills on time, you
49:51
Speaker 7: know how you have like zero thirty days before you
49:54
Speaker 7: can be late earlier early that you pay with dun
49:57
Speaker 7: and Bradstreet or the accounts that report the dune in
49:59
Speaker 7: brad Street.
50:00
Speaker 4: You either could get a ninety or one hundred.
50:02
Speaker 7: So if your bill comes in today and you pay
50:04
Speaker 7: it today, you're on track to get one hundred, right,
50:06
Speaker 7: But as long as you pay your bills within thirty days,
50:09
Speaker 7: which is the net thirty, you get an eighty on experience,
50:12
Speaker 7: it's called the Intella score, and that also goes up
50:15
Speaker 7: to one hundred. Experience also has like a risk factor
50:18
Speaker 7: of one to five, so you want to make sure
50:20
Speaker 7: that you're closer to one, and how do you get
50:23
Speaker 7: closer to one? Pay your bills on time, try not
50:26
Speaker 7: to max anything out, and that.
50:27
Speaker 4: Goes up to one hundred. Equifax business typically goes up.
50:30
Speaker 7: To like five eighty, so you really, you know a
50:33
Speaker 7: lot of people are like, oh man, my Echofax score
50:35
Speaker 7: is five hundred, Like you're fine, that's okay. That they
50:37
Speaker 7: only go up to five eighty anyway, so you're typically
50:40
Speaker 7: good and that's it. So it is a little bit
50:42
Speaker 7: of different algorithms and that's why nab dot com is
50:45
Speaker 7: so great because it gives you each of your business
50:48
Speaker 7: credit scores every month, and as you're applying for credit,
50:51
Speaker 7: net thirties, gas cards, all and loans whatever the case is,
50:53
Speaker 7: those will start hitting NAB dot com and you'll start
50:56
Speaker 7: seeing your business credit score go up.
50:58
Speaker 6: Perfect and Transusion doesn't participate in the business side.
51:01
Speaker 4: Nah, they just never got into it, Okay.
51:04
Speaker 2: So yeah, just so this is all the information that
51:06
Speaker 2: you never learned in school, and most of us just
51:09
Speaker 2: never learned period. And you go through life and you
51:11
Speaker 2: just are ignorant to this stuff because you just don't
51:13
Speaker 2: know it right, and it's not something that you usually
51:15
Speaker 2: are having a conversation with because usually your social environment
51:19
Speaker 2: it's very similar. People hang out with people similar to themselves.
51:22
Speaker 2: So millionaires hang around with millionaires. Billionaires hanging around with billionaires.
51:25
Speaker 2: People that's struggling to living day to day they hang
51:28
Speaker 2: around people are struggling living day to day. It's not
51:30
Speaker 2: something that's wrong with you, but it's just that's just
51:32
Speaker 2: what it is, right, And.
51:35
Speaker 8: This episode is brought to you by P and C Bank.
51:37
Speaker 8: A lot of people think podcasts about work are boring,
51:40
Speaker 8: and sure they definitely can be, but understanding a professionals
51:44
Speaker 8: routine shows us how they achieve their success little by little,
51:48
Speaker 8: day after day. It's like banking with P and C Bank.
51:52
Speaker 8: It might seem boring to save, plan and make calculated
51:55
Speaker 8: decisions with your bank, but keeping your money boring is
51:58
Speaker 8: what helps you live or more happily fulfilled life. P
52:01
Speaker 8: and C Bank Brilliantly Boring since eighteen sixty five. Brilliantly
52:06
Speaker 8: Boring since eighteen sixty five is a service mark of
52:09
Speaker 8: the PNC Financial Service Group, Inc. P and C Bank
52:13
Speaker 8: National Association Member FDIC.
52:18
Speaker 6: Earners. What's up?
52:19
Speaker 8: You ever walk into a small business and everything just
52:21
Speaker 8: works like The checkout is fast, the receipts are digital,
52:25
Speaker 8: tipping is a breeze, and you're out the door before
52:28
Speaker 8: the line even builds. Odds are they're using Square. We
52:32
Speaker 8: love supporting businesses that run on Square because it just
52:35
Speaker 8: feels seamless. Whether it's a local coffee shop, a vendor
52:38
Speaker 8: at a pop up market, or even one of our
52:41
Speaker 8: merch partners. Square makes it easy for them to take payments,
52:44
Speaker 8: manage inventory, and run their business with confidence, all from
52:48
Speaker 8: one simple system. If you're a business owner or even
52:52
Speaker 8: just thinking about launching something soon, Square is hands down
52:55
Speaker 8: one of the best tools out there to help you start,
52:58
Speaker 8: run and grows. Not just about payments It's about giving
53:02
Speaker 8: you time back so you can focus on what matters
53:05
Speaker 8: most ready. To see how Square can transform your business,
53:08
Speaker 8: visit Square dot com backslash go backslash eyl to learn more.
53:13
Speaker 8: That's Square dot com backslash, go backslash eyl. Don't wait,
53:18
Speaker 8: don't hesitate. Let's Square handle the back end so you
53:21
Speaker 8: can keep pushing your vision forward.
53:25
Speaker 11: Attention all small biz owners. At the ups Store, you
53:28
Speaker 11: can count on us to handle your packages with care.
53:31
Speaker 11: With our certified packing experts, your packages are properly packed
53:34
Speaker 11: and protected and with our packing Ship Guarantee. When we
53:39
Speaker 11: pack it and ship it, we guarantee because your items
53:41
Speaker 11: arrive safe or you'll be reimbursed. Visit the upstore dot
53:44
Speaker 11: com slash guarantee for full details. Most locations are independently owned.
53:47
Speaker 11: Product services, pricing, and hours of operation may vary. See
53:50
Speaker 11: center for details. The ups Store be unstoppable. Come into
53:54
Speaker 11: your local store today.
53:55
Speaker 2: If you are living day to day, you are living
53:57
Speaker 2: paycheck to paycheck, you are just you know in that
54:00
Speaker 2: then that this isn't a conversation that you're really having.
54:04
Speaker 2: The conversations that you have in is a lot different
54:07
Speaker 2: than this, right, So the whole point is to actually,
54:09
Speaker 2: you know, expand your mind, even even if you don't
54:12
Speaker 2: have the friends circle that you might necessarily.
54:15
Speaker 3: Need to build.
54:16
Speaker 2: That's why we created a community where you can actually
54:19
Speaker 2: learn and get this insight, get this information, and even
54:23
Speaker 2: if you can't really fully understand or grasp everything at
54:25
Speaker 2: one time, what happens is that it's like learning a
54:27
Speaker 2: foreign language. The more you hear, the more you actually
54:30
Speaker 2: are around an environment with encouraging people, then that actually
54:34
Speaker 2: becomes more comfortable for you. So it's like anything that
54:38
Speaker 2: you do, you know, the people that you surround yourself,
54:40
Speaker 2: the information that you surround yourself with is going to
54:42
Speaker 2: determine your future. So you can, you know, watch reality TV,
54:46
Speaker 2: gossip or you know, indulge in all kinds of negativity
54:50
Speaker 2: and that's what most people do, and that's why most
54:53
Speaker 2: people will never reach the level of success that they
54:57
Speaker 2: want or you can, you know, do it very few
55:00
Speaker 2: people do. With you know, you surround yourself with positivity
55:03
Speaker 2: and education and that is really the key to unlocking
55:09
Speaker 2: your true potential in life. So that's what we did
55:12
Speaker 2: with Eyo University. As far as you know, we created
55:14
Speaker 2: a system, I mean early leisure periods a platform to learn,
55:17
Speaker 2: and eyl University is just an extension of that, just
55:20
Speaker 2: you know, pretty much on steroids where it's a community
55:24
Speaker 2: where you know, anybody can watch a podcast, anybody could
55:26
Speaker 2: be on social media, but if you're part of a community,
55:29
Speaker 2: you in zoom. We have accountability groups, we have you
55:31
Speaker 2: know groups that infinity groups inside of it. We have
55:34
Speaker 2: I do financial planning calls every single month with a
55:36
Speaker 2: couple hundred people that's tapped in. They get to ask
55:39
Speaker 2: questions and the next part of what we're going to
55:41
Speaker 2: do is different than like just what we do on
55:43
Speaker 2: a podcast where now this is actually like an interactive
55:46
Speaker 2: you know, situation where you can ask questions that's specific
55:50
Speaker 2: to your your individual question as opposed to trying to
55:53
Speaker 2: DM somebody or hit somebody in the comments. We know
55:55
Speaker 2: how hard that is to recall to answer to that,
55:58
Speaker 2: so you know, earn your leisia. We have over a
56:00
Speaker 2: hundred and fifty archive classes. We do classes every single week.
56:03
Speaker 2: We do financial planning, we do real estate, we have
56:05
Speaker 2: groups and it's just it's a community. We're gonna do
56:08
Speaker 2: live events just for eyl University members. So last time
56:12
Speaker 2: we did this, we had dropped the price to six
56:14
Speaker 2: ninety nine for the entire year, and we kept that
56:16
Speaker 2: running actually all the way to this. So that will
56:20
Speaker 2: change on Friday, because I'm gonna let everybody that here
56:22
Speaker 2: is if on the audio, We're gonna put it out
56:24
Speaker 2: on audio on Friday. But after that it'll go back
56:26
Speaker 2: up to it'll still be a discount. It'll be one
56:28
Speaker 2: thousand dollars for the whole entire year. I mean, I
56:30
Speaker 2: think that's I mean, you know, so.
56:31
Speaker 8: I said, I always am baffled by that, Like I've
56:34
Speaker 8: had some messages with my books more than that.
56:37
Speaker 2: No, it's not even it's I mean, it's not even
56:38
Speaker 2: a sales pitch. It's like, you know, if you want
56:39
Speaker 2: to be a part of it, six ninety nine for
56:41
Speaker 2: the whole year. If not, then you know, we still
56:43
Speaker 2: love it. You just you just get the free information
56:44
Speaker 2: that we just put out on YouTube. It's not it's
56:46
Speaker 2: not for everybody. It's no pressure, but that's just you know,
56:49
Speaker 2: it is what it is. So yeah, I think we
56:52
Speaker 2: that we put together one of the most impressive bodies
56:54
Speaker 2: of works that has ever been put together, and you know,
56:58
Speaker 2: at a price that is is almost free. If you
57:01
Speaker 2: really look at it from that standpoint, you know. So, yeah,
57:04
Speaker 2: I put the link in the description. We could put
57:07
Speaker 2: put the link in the uh it's penned on YouTube.
57:09
Speaker 2: Also if you want to take advantage of that. So
57:11
Speaker 2: I guess it's like forty eight hours until Friday, you
57:13
Speaker 2: can take advantage of that. Yeah, we love to see you.
57:16
Speaker 2: On the other side, we're working on a couple other
57:17
Speaker 2: things too that fully going to take eyl University to
57:19
Speaker 2: the next level. But let's get to the questions. This
57:22
Speaker 2: is my favorite part of this whole situation, where people
57:24
Speaker 2: get to ask questions.
57:25
Speaker 8: I'm back at it. I'm back at Let's see if
57:26
Speaker 8: I still got it. Soya, we're coming to you. Toya,
57:29
Speaker 8: I'm mute yourself. You've been unmuted. What's going on?
57:34
Speaker 5: Hi? Everybody?
57:35
Speaker 6: How you doing?
57:35
Speaker 3: How's it going? Oh good?
57:37
Speaker 12: I had put my questions in it Q and A,
57:41
Speaker 12: but I'll just ask like one, okay, So, as far
57:46
Speaker 12: as credit cards is it is it a bad thing
57:49
Speaker 12: to carry a zero balance on your card for a
57:52
Speaker 12: long period of time? I asked, because I've had two
57:56
Speaker 12: credit cards that I have for like eight years, and
57:59
Speaker 12: they just, like you know, at one point they reduce
58:03
Speaker 12: the limit because they said I hadn't been using them.
58:07
Speaker 12: So is it better to like keep that ten percent
58:10
Speaker 12: on there or to have a zero balance nowadays?
58:14
Speaker 4: Yep, So I do see that happen happening a lot.
58:17
Speaker 7: And I always tell people, you know, keep your credit
58:20
Speaker 7: cards on auto payment, right, and then if you know,
58:24
Speaker 7: you don't have to use every single credit card and
58:26
Speaker 7: max every single credit card out, but in order to
58:29
Speaker 7: prevent them from closing or lowering the limit on a
58:31
Speaker 7: credit card that's eight years old, five year old, what
58:34
Speaker 7: the case is. Makes And let's say if it's a
58:40
Speaker 7: store card, buy a shirt, buy a suit, and then
58:43
Speaker 7: it's on auto pay, so you know the whole thing
58:44
Speaker 7: is gonna be paid off in less than three days. Right,
58:47
Speaker 7: if it's a credit card you could use anywhere, and
58:50
Speaker 7: it's an old credit card, buy a stick of gum,
58:53
Speaker 7: buy milk, whatever the case is. You don't necessarily have
58:56
Speaker 7: to have a zero, zero, zero balance on a card,
58:59
Speaker 7: just specially that you're using, right. But the more you
59:02
Speaker 7: use a card, the higher limit you're gonna get, so
59:05
Speaker 7: eventually your credit score is going.
59:07
Speaker 4: To be higher.
59:08
Speaker 7: But with those credit cards that are kind of like
59:10
Speaker 7: BS credit cards, but you don't want to close them
59:11
Speaker 7: because of the history.
59:12
Speaker 4: Just leave them on all to pay, use them every
59:14
Speaker 4: once in a while.
59:15
Speaker 7: But also don't be afraid to use the credit cards either,
59:17
Speaker 7: if you know that that credit card is going to
59:19
Speaker 7: produce some type of return on an investment. If you
59:22
Speaker 7: have a ten thousand dollars credit card and you know
59:23
Speaker 7: that you can make twenty thousand dollars by using that
59:25
Speaker 7: ten grand, I'm gonna use the ten grand all day,
59:28
Speaker 7: and who cares if I carry a balance for thirty days,
59:31
Speaker 7: because I'm gonna get twenty thousand dollars paid off.
59:33
Speaker 4: And then you get a business credit card or whatever
59:35
Speaker 4: the case is.
59:36
Speaker 7: And that's the power what I'm saying, Like, if you
59:37
Speaker 7: get the business credit cards, it really doesn't matter how
59:40
Speaker 7: much you charge on it. But with the personal cards,
59:42
Speaker 7: put them on all to pay, use them every once
59:44
Speaker 7: in a while so that way they don't close them.
59:45
Speaker 6: Out, and you can use them for specific things.
59:47
Speaker 8: Like I'm a huge sneakerhead, and so I have an
59:50
Speaker 8: Amazon card has great rewards on it. I use it
59:52
Speaker 8: only for my ideas that like, I don't use it
59:54
Speaker 8: for anything else, and I don't buy Adidas too often.
59:57
Speaker 8: But if I do, it's just like I know that
59:58
Speaker 8: that's that credit card and it's on all the play
1:00:00
Speaker 8: so it's like boom, and then it builds up my
1:00:03
Speaker 8: points with them, and then so now I get access
1:00:04
Speaker 8: to a certain advantage, get access to early drops. So
1:00:09
Speaker 8: you could just have the credit card specifically for one thing.
1:00:12
Speaker 2: Yeah, it happened to me where they close the credit
1:00:14
Speaker 2: card and drop my credit score a little bit because
1:00:17
Speaker 2: I wasn't using it.
1:00:19
Speaker 3: So I'm gonna ask a question.
1:00:20
Speaker 12: Yeah, that's that's what happened to me too, Like it
1:00:23
Speaker 12: dropped my script my score, and I'm like, WHOA. I
1:00:26
Speaker 12: thought I was good because I have a zero balance.
1:00:29
Speaker 2: Yeah, but I mean it should go up. It should
1:00:31
Speaker 2: go back up pretty quickly though, right, Jose, Like, that's
1:00:33
Speaker 2: not something that's going.
1:00:34
Speaker 3: To hurt you in a long term.
1:00:35
Speaker 4: What if they lower the limit, if.
1:00:37
Speaker 3: They if they cancel your credit card because you're not using.
1:00:39
Speaker 7: It, Yeah, it could potentially hurt you because what you're
1:00:42
Speaker 7: doing is is you're lowering the available credit that you've.
1:00:46
Speaker 4: So what I say with that is if you have
1:00:49
Speaker 4: if they close that card.
1:00:50
Speaker 7: Out, kind of count your l it's a loss because
1:00:53
Speaker 7: if you try to reopen that card, they will run
1:00:55
Speaker 7: your credit. Another thing you could do is just visit
1:00:58
Speaker 7: the other credit cards that you have and see if
1:01:00
Speaker 7: those credit cards will give you a higher limit. Because
1:01:03
Speaker 7: if you're worried about inquiries, which I tell people, don't
1:01:06
Speaker 7: be afraid of them, because you have to run your
1:01:08
Speaker 7: credit sometime.
1:01:09
Speaker 4: But all you got to do is really just visit
1:01:11
Speaker 4: the other credit.
1:01:12
Speaker 7: Cards you have and see if they'll give you a
1:01:13
Speaker 7: limit increase, because that's a better option to do if
1:01:16
Speaker 7: they already close that card, because it's not the age
1:01:18
Speaker 7: of the account, but you don't have the available credit
1:01:21
Speaker 7: in that account.
1:01:22
Speaker 2: And then also the reason why it closed my account
1:01:25
Speaker 2: because I had I think I had too many credit
1:01:27
Speaker 2: cards and it was just it was too much to
1:01:29
Speaker 2: use them all. So a lot of them I just
1:01:30
Speaker 2: didn't use. So my next question is how much how
1:01:33
Speaker 2: many credit cards should you actually have?
1:01:36
Speaker 4: I tell people it really depends. Man.
1:01:41
Speaker 7: I mean I have here on my desk right, and
1:01:45
Speaker 7: this is just some of my cards. Everybody's different. I mean,
1:01:50
Speaker 7: these are all credit cards right here, right, These are
1:01:54
Speaker 7: all credit cards right here right. I mean I have
1:01:56
Speaker 7: like three bundles of credit cards. They all they all
1:02:00
Speaker 7: paid on time, some of them maxed out. I went
1:02:02
Speaker 7: to Disney that two credit cards are maxed out for
1:02:04
Speaker 7: my wife's birthday. The thing is is as long as
1:02:07
Speaker 7: you do not carry balances for a long period of
1:02:11
Speaker 7: time and they're late. I've seen people with forty credit cards,
1:02:14
Speaker 7: fifty credit cards, you know what I mean, as long
1:02:16
Speaker 7: as it becomes a business at that point trying to
1:02:19
Speaker 7: manage it all. But I always tell people, as many
1:02:22
Speaker 7: you can handle, but just don't get all those forty
1:02:25
Speaker 7: credit cards in a year. You're gonna have to build
1:02:27
Speaker 7: it up, you know, every couple of months, apply for
1:02:28
Speaker 7: a credit card here and there. So as long as
1:02:30
Speaker 7: you don't have inquiries, you know, four inquiries a month
1:02:34
Speaker 7: and then late payments and max doll cards. I tell
1:02:37
Speaker 7: people take advantage of as many credit cards as you can,
1:02:39
Speaker 7: hint as you can and handle.
1:02:41
Speaker 4: Because what if what if you lose your job one day?
1:02:44
Speaker 7: What if you know, something happens, and if you have
1:02:48
Speaker 7: hundred thousand dollars in credit cards, but you know you
1:02:50
Speaker 7: can only make the minimum payment that might save you
1:02:52
Speaker 7: from losing your house, from losing your car, or.
1:02:55
Speaker 4: Whatever the case is.
1:02:56
Speaker 7: So use credit still as also as a resource as
1:02:59
Speaker 7: a saving in case something bad happens.
1:03:01
Speaker 4: And so I always tell people.
1:03:03
Speaker 7: As many as you think you can handle, that you're
1:03:06
Speaker 7: not gonna max out. And that's a very broad question
1:03:09
Speaker 7: because I don't want people to be afraid to have
1:03:11
Speaker 7: twenty credit cards, you know what I mean, because it
1:03:13
Speaker 7: could save you one day.
1:03:15
Speaker 6: We appreciate you, Joeya, thank you. Yeah, all right, let's
1:03:19
Speaker 6: see where we go. Rachel, Rachel, we are.
1:03:22
Speaker 3: Coming to you.
1:03:23
Speaker 6: Mute yourself. You've been on muted? What's going on?
1:03:30
Speaker 5: Hello?
1:03:30
Speaker 6: Hey, how you doing?
1:03:31
Speaker 3: What's going on?
1:03:32
Speaker 9: Oh?
1:03:32
Speaker 13: I didn't know y'all were gonna pick me. I was
1:03:34
Speaker 13: just looking at the show. I didn't know you were
1:03:36
Speaker 13: gonna pick me.
1:03:37
Speaker 3: You got a question?
1:03:38
Speaker 13: Oh but I do have a question. But I always
1:03:41
Speaker 13: I just wanted to say this real quick. I just
1:03:43
Speaker 13: wanted to say that I just thank you guys for
1:03:45
Speaker 13: doing what you're doing. Because when I was like growing up,
1:03:49
Speaker 13: I'm like forty now, but when I was like in
1:03:52
Speaker 13: my twenties, you know, I had a good job. I
1:03:54
Speaker 13: worked for corrections or whatever, but I never knew this
1:03:57
Speaker 13: type of stuff. So now that I know, I'm like
1:03:59
Speaker 13: catching up. And I joined the I joined the stock
1:04:03
Speaker 13: club and everything and got my house. I just want
1:04:05
Speaker 13: to say that you guys are really help me. That's
1:04:07
Speaker 13: all I have to say.
1:04:08
Speaker 6: Hey, Rachel, thank you, and I want you to save
1:04:11
Speaker 6: forty with pride. I want you saying that like that.
1:04:13
Speaker 13: Yeah, retired, I retired from my job and forty I got.
1:04:17
Speaker 5: Into real estate.
1:04:19
Speaker 13: I did all these great things, but I had no
1:04:21
Speaker 13: one to like back me. I found you guys, and
1:04:24
Speaker 13: now I'm like it's on and popping.
1:04:26
Speaker 6: I love it.
1:04:27
Speaker 3: Thank you, appreciate that.
1:04:30
Speaker 13: But my question is real quick, what's the best what
1:04:32
Speaker 13: do you in your in your suggestion, what's the best
1:04:34
Speaker 13: bank to start your business?
1:04:35
Speaker 9: Credit in your business? Excuse me?
1:04:38
Speaker 13: Your business checking account?
1:04:40
Speaker 4: Say that? Say that one part again business?
1:04:42
Speaker 3: What's the bank? What's the best bank for business checking? Yes?
1:04:46
Speaker 4: I love Chase.
1:04:47
Speaker 7: I just love Chase because Chases chases everywhere and if
1:04:51
Speaker 7: God forbid, you're on vacation and you're applying for a mortgage,
1:04:54
Speaker 7: your business bank account, or a loan or whatever the
1:04:56
Speaker 7: case is, and they need something, Chase, Chase is usually
1:04:59
Speaker 7: everywhere and it's very accessible.
1:05:01
Speaker 4: So that's why I like Chase.
1:05:04
Speaker 8: Concur right like that, that's kind of who we use
1:05:06
Speaker 8: as well, we both had personal accounts there and so
1:05:09
Speaker 8: when we open the business just made sense that they
1:05:11
Speaker 8: can see all our finances is really streamlined. So that's
1:05:14
Speaker 8: who we use as well.
1:05:15
Speaker 3: So Chase, Yeah, I use Chase. It's got a lot
1:05:17
Speaker 3: of accounts for Chase.
1:05:18
Speaker 2: But I will say that it is important to diversify
1:05:20
Speaker 2: your banks because even I have an online capital one
1:05:23
Speaker 2: savings account, you never know, you never know what can happen,
1:05:29
Speaker 2: and you know they freeze your account.
1:05:31
Speaker 3: Anything is possible.
1:05:33
Speaker 2: So especially as you grow more assets, it's never it's
1:05:37
Speaker 2: not a bad idea to diversify and have You don't
1:05:40
Speaker 2: want to have like thirty different bank accounts, but you
1:05:42
Speaker 2: might want to have a few different, few different accounts
1:05:44
Speaker 2: for a few different institutions.
1:05:45
Speaker 6: Yeah, I agree with that too. Yeah, thank you, Thank you, Rachel,
1:05:50
Speaker 6: and congratulations on retiring.
1:05:52
Speaker 13: Thank you, thank you very much.
1:05:53
Speaker 8: All right, Rachel, Rachel from New York. You know we
1:05:59
Speaker 8: ain't got to ask down to the city. Let's see,
1:06:02
Speaker 8: let's go to Tony. We coming to you, Tony K
1:06:06
Speaker 8: were coming to you. What's going on? I'm mute yourself,
1:06:07
Speaker 8: you've been unmuted.
1:06:08
Speaker 6: What's up?
1:06:10
Speaker 5: All right? What's going on? Brothers. How you guys doing
1:06:12
Speaker 5: this evening?
1:06:15
Speaker 14: All right, good good. I'm gonna make it real quick.
1:06:17
Speaker 14: I just got two quick questions for you. I think
1:06:21
Speaker 14: you're already coveted earlier, but I just want.
1:06:23
Speaker 5: To make sure.
1:06:24
Speaker 14: So I was trying to apply for business credit and
1:06:30
Speaker 14: this company asks for a personal guarantee. So is that
1:06:36
Speaker 14: going to affect my personal credit? Is it going to
1:06:38
Speaker 14: show up that I'm applying for business credit? Is that
1:06:42
Speaker 14: going to mess me up personally?
1:06:43
Speaker 4: Or would you mind me asking who the company is?
1:06:47
Speaker 5: A company called Cabbage.
1:06:50
Speaker 7: Yes, Cabbage actually will run your credit, and they're actually
1:06:53
Speaker 7: going to run experience.
1:06:55
Speaker 4: It is going to be a hard inquiry. But here's
1:06:58
Speaker 4: the thing. If that account is going to.
1:07:01
Speaker 7: Give you access to thirty forty fifty sixty thousand dollars,
1:07:08
Speaker 7: I say go for it. You know what I mean,
1:07:09
Speaker 7: because you're securing that not only with your business checking account,
1:07:13
Speaker 7: but also they will run your personal credit and that's
1:07:15
Speaker 7: like a line of credit, kind of like fund the
1:07:17
Speaker 7: box and Blue Viney.
1:07:20
Speaker 5: Gotcha? Okay?
1:07:21
Speaker 6: All right?
1:07:23
Speaker 14: Second quick question is I've been established for about maybe
1:07:28
Speaker 14: eight years with my LLC, and I'm trying so hard
1:07:32
Speaker 14: to get business credit like right now, I think I
1:07:35
Speaker 14: got two credit cards, one Chase which is about maybe
1:07:39
Speaker 14: seventy five hundred, then I got American Express which is
1:07:43
Speaker 14: about nine thousand. What is the best bank to go
1:07:48
Speaker 14: to at this point with someone that's bringing in about
1:07:52
Speaker 14: maybe thirty five forty thousand business wise with those two
1:07:57
Speaker 14: credit cards and trying to maximize my business credit?
1:08:01
Speaker 5: Is there like a institution that you can kind of
1:08:04
Speaker 5: direct me to for that?
1:08:05
Speaker 4: What do you mean you're bringing in that a month
1:08:07
Speaker 4: or you're talking about.
1:08:08
Speaker 3: Like a year? Like a year right now? Right, that's
1:08:11
Speaker 3: how much this business is making a year.
1:08:13
Speaker 4: Okay, So so you want to know where you can
1:08:15
Speaker 4: go to what to leverage more credit or more credit cards.
1:08:19
Speaker 14: I'm looking to go to a place where I can
1:08:21
Speaker 14: get more credit, like a line of credit, Like I
1:08:23
Speaker 14: want to try to get like, you know, seventy five
1:08:26
Speaker 14: to one hundred thousand line of credit.
1:08:28
Speaker 7: Okay, yeah, No, So what you might have to do
1:08:30
Speaker 7: is you might have to because of the income you
1:08:33
Speaker 7: have coming in, you might have to apply for certain
1:08:37
Speaker 7: lines of credit. Right, so you might have to go
1:08:39
Speaker 7: to you already went to Cabbage, right, You're gonna have
1:08:42
Speaker 7: to go to a phone box you're gonna have to
1:08:43
Speaker 7: go to Bluevine. You're gonna have like, like I was
1:08:46
Speaker 7: saying before, Bank of America is a good place. Who
1:08:49
Speaker 7: do you bank with right now?
1:08:50
Speaker 4: For business?
1:08:51
Speaker 5: I'm actually with Chase Chase my bank right now.
1:08:54
Speaker 4: Chase Chase does have some products that you can apply for.
1:08:57
Speaker 7: They do, like you know, asks for a little bit
1:08:59
Speaker 7: more information, but just you might just have to get
1:09:03
Speaker 7: a few more credit cards too, because at the end
1:09:05
Speaker 7: of the day, what are you looking to do with
1:09:07
Speaker 7: that line of credit and that cash. Are you looking
1:09:08
Speaker 7: to invest it to buy more things? Or you're just
1:09:11
Speaker 7: looking to have it as a backup?
1:09:13
Speaker 14: No, like I'm looking to actually invested, Like I want
1:09:16
Speaker 14: to buy, you know, some real estate and get into
1:09:19
Speaker 14: some other business ventures.
1:09:20
Speaker 5: Okay, business credit?
1:09:22
Speaker 7: Yeah, So I mean if you your credit sounds like
1:09:24
Speaker 7: it's good because you know, you have a Chase and
1:09:26
Speaker 7: you have some Madax, I will say, you know, log
1:09:28
Speaker 7: into your American Express account.
1:09:30
Speaker 4: Number one and try to get at least six to eight.
1:09:33
Speaker 7: American Express cards right on the business side, because you know,
1:09:36
Speaker 7: when was the last time you got an American Express card?
1:09:40
Speaker 5: Man, I would say about three years ago.
1:09:42
Speaker 7: Oh yeah, man, so you should you should log into
1:09:44
Speaker 7: your AmericanExpress dot com right and apply for more business
1:09:48
Speaker 7: credit cards. They won't run your credit since you have
1:09:50
Speaker 7: a relationship with them, right and and now that will
1:09:54
Speaker 7: give you access to more credit. When was the last
1:09:56
Speaker 7: time you got a Chase credit card the one that
1:09:58
Speaker 7: you have?
1:10:00
Speaker 14: Oh well I got that when I opened up the account,
1:10:02
Speaker 14: and that was about maybe eight years ago.
1:10:05
Speaker 4: So and that's a chase In card.
1:10:07
Speaker 5: That's the Chase In card.
1:10:08
Speaker 7: Right, well, then get another Chase In card since it's
1:10:12
Speaker 7: been that long since you got it. So now you
1:10:14
Speaker 7: got Chase Ink, you got you can get up to
1:10:16
Speaker 7: six American Express credit cards with no injury.
1:10:19
Speaker 4: You got Cabbage, you got Blue Vine, you got.
1:10:22
Speaker 7: Fun Box, And I think, man, I think that'll be
1:10:24
Speaker 7: enough to get you started where it's actually giving you cash.
1:10:27
Speaker 4: And that's just the credit right away.
1:10:29
Speaker 5: Perfect, perfect, all right, I appreciate it. Thank you guys.
1:10:33
Speaker 6: That man appreciate you, Tony.
1:10:35
Speaker 5: All right, brother, Yeah, that's a lot.
1:10:39
Speaker 6: Let's see. Let's see. Uh, let's go to Morgan. We're
1:10:44
Speaker 6: going to Morgan. What's going on? Morgan? I meet yourself.
1:10:46
Speaker 6: You've been unmuted, that was going tell us?
1:10:49
Speaker 3: How you do?
1:10:50
Speaker 6: I think good? Are you.
1:10:52
Speaker 15: I'm all right, just for the credit dude. So I've
1:10:55
Speaker 15: seen the class that you did about the American Express
1:10:58
Speaker 15: cards and I actually did it. I got I think
1:11:01
Speaker 15: I got four cars that night. My question is those
1:11:05
Speaker 15: cars that I got and I also have already did
1:11:08
Speaker 15: the Bank of America and I got a car in
1:11:12
Speaker 15: Bank of America in my business name. But none of
1:11:15
Speaker 15: this is reporting on my NAV credit report. Like I
1:11:17
Speaker 15: got the app, I downloaded the app, I'm paying for
1:11:19
Speaker 15: the service and everything, but none of it has posted.
1:11:21
Speaker 15: And I've had the car and the Bank of America
1:11:25
Speaker 15: card for over a year. The credit cards to American
1:11:28
Speaker 15: Express I've only had for probably like three or four months.
1:11:30
Speaker 15: But I'm just trying to figure out how to close
1:11:32
Speaker 15: that gap. Like I was trying to walk through all
1:11:35
Speaker 15: of the things that you said and crossing all of
1:11:37
Speaker 15: my tea's out my eyes, but it's something that I'm missing.
1:11:40
Speaker 7: Okay, So one, congrats with getting those credit cards and
1:11:43
Speaker 7: things like that. When it comes to those those credit
1:11:47
Speaker 7: cards the American Express, they won't really report to done
1:11:50
Speaker 7: in Bradstreet. Those are typically going to report to Experience
1:11:54
Speaker 7: your auto. You say you got the business all the
1:11:56
Speaker 7: loan already too.
1:11:58
Speaker 15: Yeah, I got that through Bank of America.
1:11:59
Speaker 7: Okay, that one should that one should be reporting to
1:12:02
Speaker 7: dun In Bradstreet and Experience. Now, usually what I tell
1:12:05
Speaker 7: people is this, when it comes to your business credit,
1:12:09
Speaker 7: what you want to make sure you have. You want
1:12:12
Speaker 7: to make sure that your state has the right information
1:12:15
Speaker 7: for the address, the E I N with the with
1:12:18
Speaker 7: the I R s your bank account, and then with
1:12:21
Speaker 7: all the credit cards, the done in Bradstreet Experience business
1:12:25
Speaker 7: and then also your all a loan.
1:12:26
Speaker 4: You want to make sure everything.
1:12:28
Speaker 7: Has the right address right because if they're if you
1:12:32
Speaker 7: don't really have a profile with dun In Bradstreet or
1:12:35
Speaker 7: any of the business credit burea set up with the
1:12:38
Speaker 7: current business address and it's an old one a lot
1:12:40
Speaker 7: of the times it.
1:12:41
Speaker 4: Won't catch you know what I mean.
1:12:43
Speaker 7: So what you want to do is just revisit all
1:12:46
Speaker 7: of the accounts that you have on the business make
1:12:48
Speaker 7: sure they all have the current address, especially it should
1:12:51
Speaker 7: be a business address if you don't have a virtual office,
1:12:55
Speaker 7: whoever the case is, and then just contact each of
1:12:58
Speaker 7: those credit cards and all alone and everything and say, hey, listen,
1:13:01
Speaker 7: you know I've had this account for X amount of time,
1:13:04
Speaker 7: and it's not reporting.
1:13:05
Speaker 4: But what you also want to do is you also
1:13:07
Speaker 4: want to make sure that you're.
1:13:08
Speaker 7: Still building the net thirties, the gas cards, you know,
1:13:11
Speaker 7: the Staples, the Amazon things like that, because a lot
1:13:14
Speaker 7: of the times, even if you have if you don't
1:13:15
Speaker 7: have enough accounts, a lot of the times it also
1:13:18
Speaker 7: won't report your credit score on the business side either.
1:13:21
Speaker 7: So start pumping up your business credit with more than
1:13:24
Speaker 7: with just with more than just those accounts, and see
1:13:26
Speaker 7: what difference it makes in sixty to ninety days.
1:13:29
Speaker 15: Okay, I haven't. I haven't done the net thirty somebody
1:13:33
Speaker 15: just told me to do that as well. But so
1:13:35
Speaker 15: that that I haven't did the rest of it, I've done.
1:13:37
Speaker 15: But okay, thank you, no.
1:13:38
Speaker 6: Problem, man, appreciate you Morgan, Yes, all right.
1:13:43
Speaker 2: And if anybody's asking Eyo University, that's the Zoom people
1:13:46
Speaker 2: that have access to the Zoom, same people that like
1:13:48
Speaker 2: that's how you see on market Mondays too, that's the
1:13:50
Speaker 2: people that have the Zoom access.
1:13:52
Speaker 6: Let's go toinally what's going on? I'm you yourself, You've
1:13:54
Speaker 6: been unmuted. What's up?
1:13:58
Speaker 15: Hey?
1:13:59
Speaker 3: I was going going on?
1:14:00
Speaker 6: I appreciate everybody doing. It's so punctual with the call.
1:14:02
Speaker 16: On appreciate no fridge berries, no fridge breaking. I have
1:14:08
Speaker 16: two questions. Hell say, I have a question about an
1:14:13
Speaker 16: LLC that I have Right I opened it up, it's
1:14:16
Speaker 16: almost a year old. I haven't used it for its
1:14:19
Speaker 16: intended purpose, and so I have some other business opportunities
1:14:24
Speaker 16: and I want to keep the age of my LLC
1:14:29
Speaker 16: as well as my credit card that I opened up
1:14:31
Speaker 16: in the LLC even though I haven't done anything with
1:14:33
Speaker 16: it yet. So how do I preserve the age of
1:14:37
Speaker 16: the LLC as well as preserve the card that I have, Like,
1:14:41
Speaker 16: because I'm coming up also on my renewal, Like can
1:14:43
Speaker 16: I just change like the name and like update the
1:14:47
Speaker 16: info and keep it?
1:14:48
Speaker 6: Like how do I do that?
1:14:50
Speaker 10: Yep?
1:14:51
Speaker 4: So what you want to do is you do want
1:14:53
Speaker 4: to get with an attorney with that, just to make
1:14:57
Speaker 4: sure that.
1:14:59
Speaker 7: You're able to do because it depends like if you
1:15:01
Speaker 7: if you have like a pizzeria and you're trying to
1:15:03
Speaker 7: do a consulting business, you might not be able to
1:15:06
Speaker 7: change the name of it and do the same thing,
1:15:09
Speaker 7: you know what I mean. So what I would say
1:15:11
Speaker 7: with that, one hundred percent of the time, get with
1:15:13
Speaker 7: an attorney that you know, or LegalZoom dot com, whatever
1:15:16
Speaker 7: the case is, and just make sure that when you're
1:15:19
Speaker 7: changing the name and changing the actual business of what
1:15:23
Speaker 7: you're going to be doing, that you're able to do
1:15:25
Speaker 7: it and that you're not going to get like in
1:15:27
Speaker 7: any type of like you know, if there's a business license,
1:15:29
Speaker 7: you got to get over the case is. And that's
1:15:31
Speaker 7: one of the reasons why I always tell people kind
1:15:33
Speaker 7: of have like a blanket LLC name, like you know,
1:15:36
Speaker 7: Rodriguez Management LLC, and you can typically do several things
1:15:41
Speaker 7: under that LLC and not really have to change the name.
1:15:43
Speaker 7: But it's like if you name your business, you know,
1:15:45
Speaker 7: Rodriguez Painting, but you want to do landscaping, that's kind
1:15:49
Speaker 7: of like where if you would have just named it
1:15:51
Speaker 7: Rodriguez LLC Rodriguez Management LLC and then DBA Rodriguez Painting,
1:15:56
Speaker 7: Rodriguez Landscaping, Rodriguez whatever, you're still able to kind of
1:16:00
Speaker 7: do things under the same umbrella. But like I always
1:16:02
Speaker 7: tell people, get with an attorney because you know, every
1:16:05
Speaker 7: state varies.
1:16:05
Speaker 4: And you just never want to get hung up. And
1:16:07
Speaker 4: even if you got to.
1:16:08
Speaker 7: Lose the age of the account of the LLC, you
1:16:12
Speaker 7: might have to you know what I mean to to
1:16:13
Speaker 7: make sure that you're you're doing everything by the books,
1:16:16
Speaker 7: legit and within the law that the state that you
1:16:19
Speaker 7: live in.
1:16:20
Speaker 16: Yeah, I was worried about the next code. I thought
1:16:22
Speaker 16: if I just changed the next code in the name,
1:16:24
Speaker 16: I could do it. But I'll researched that some more.
1:16:26
Speaker 5: I appreciate that.
1:16:27
Speaker 16: My other question is, so for the credit cards that
1:16:30
Speaker 16: we apply for, right, I used your chips as well
1:16:35
Speaker 16: on one of our calls and I was able to
1:16:37
Speaker 16: get a couple of AMEX cards and I got my
1:16:39
Speaker 16: Chase in cars, So that worked the beautifully, right. But
1:16:43
Speaker 16: my question is if I'm the personal guaranteur right on
1:16:48
Speaker 16: these business accounts and it's not like true business credit
1:16:51
Speaker 16: because it's not in the night Yan, Right, they ran
1:16:53
Speaker 16: my social and it's in my business name, but I'm
1:16:56
Speaker 16: the PG.
1:16:57
Speaker 10: So do the same.
1:17:00
Speaker 16: Apply on these cards as your personal credit as far
1:17:05
Speaker 16: as like if you max out the card on your
1:17:08
Speaker 16: personal credit cards, it would harm you because the utilization
1:17:13
Speaker 16: works against you. So is it the same if you
1:17:16
Speaker 16: apply for a credit card in your business name and
1:17:20
Speaker 16: you're the personal guaranteur? Is it those same rule or
1:17:23
Speaker 16: is it the business rules where utilization doesn't matter.
1:17:27
Speaker 4: So that's it's a very question.
1:17:32
Speaker 6: It's gonna meets you real quick.
1:17:33
Speaker 7: Now, yeah, that's a very it's it really does depend
1:17:38
Speaker 7: because you know your your business credit utilization doesn't matter
1:17:43
Speaker 7: as much as your utilization and.
1:17:45
Speaker 4: The personal side. But if you have all of your business.
1:17:50
Speaker 7: Credit cards maxed out and you're not paying your net
1:17:53
Speaker 7: thirties on time, that is going to eventually hurt you.
1:17:57
Speaker 7: But if you have two or three, like you know,
1:17:59
Speaker 7: I have met I have maxed out credit cards on
1:18:01
Speaker 7: the business side, that's and I hide the debt and
1:18:04
Speaker 7: it's not going to hurt you as much when you
1:18:05
Speaker 7: apply for more credit cards as long as your personal
1:18:08
Speaker 7: debt isn't maxed out if you're using that as a
1:18:10
Speaker 7: personal guarantee. So remember if you're always if you're going
1:18:13
Speaker 7: to be using your personal credit as a guaranteur for
1:18:16
Speaker 7: business credit, typically your personal credit is going to have
1:18:22
Speaker 7: a bigger factor on your approval than anything on the
1:18:25
Speaker 7: business side. So even if you don't have the income
1:18:27
Speaker 7: the business credits for the age, whatever the case is,
1:18:30
Speaker 7: as long as your personal credits on point, that will
1:18:32
Speaker 7: typically be good. But if you do max out the
1:18:35
Speaker 7: business side as well. It typically is not going to
1:18:38
Speaker 7: hurt you as much as if you had maxed out
1:18:40
Speaker 7: credit cards on the personal side of that ants question.
1:18:48
Speaker 6: Okay, Natalie, Hopefully that did. Hopefully that did real quick.
1:18:52
Speaker 8: We got one in the chat. Shout to all the
1:18:53
Speaker 8: earners that's in the chat. We see a lot of hands.
1:18:55
Speaker 8: We don't try to get as many as possible. It
1:18:56
Speaker 8: was somebody's rg's having a mic issue said, my husband
1:19:01
Speaker 8: bought a car last month under a personal credit but
1:19:04
Speaker 8: he wants to transfer ownership in.
1:19:06
Speaker 6: His LLC as his EI in number. How can we
1:19:10
Speaker 6: do this by transferring over? Can you do it?
1:19:14
Speaker 3: Is a question.
1:19:15
Speaker 6: I'm assuming I think you got muted.
1:19:22
Speaker 3: My bad guys.
1:19:22
Speaker 4: You guys mind if I share my stream right quick
1:19:24
Speaker 4: and show you guys how to do that? Or do
1:19:26
Speaker 4: you guys?
1:19:26
Speaker 6: Yeah? Yeah, I'll come free good Okay, So what you.
1:19:29
Speaker 4: Guys are gonna do, I will drop. All you gotta
1:19:32
Speaker 4: do is search.
1:19:32
Speaker 7: Business is Bank of America, Bank of America Business Auto loan. Okay,
1:19:42
Speaker 7: so let me go ahead and share my screen.
1:19:48
Speaker 3: Business.
1:19:48
Speaker 4: Allo.
1:19:49
Speaker 7: All you gotta do is business, I mean Bank of
1:19:51
Speaker 7: America Business all the loan right, This link is gonna
1:19:56
Speaker 7: come up. I will put it in the chat section
1:19:58
Speaker 7: for everybody that's here, okay, and if anybody wants to
1:20:02
Speaker 7: drop that on the YouTube channel as well. But when
1:20:06
Speaker 7: you go here, right, all you gotta do. If it's
1:20:09
Speaker 7: in the personal name, all you're gonna do.
1:20:12
Speaker 3: Apply.
1:20:12
Speaker 4: Now, it's a refinance. Put the loan is this? Is
1:20:18
Speaker 4: it a Bank of America or the loan?
1:20:20
Speaker 7: If it is, it is. If it's not, putting no,
1:20:22
Speaker 7: put the amount fifty thousand dollars, the loan term seventy
1:20:26
Speaker 7: two months, sixty months, whatever the case is. Do you
1:20:28
Speaker 7: have an online account? No, I like to continue without
1:20:31
Speaker 7: logging in. Put the ven number, look up the vehicle,
1:20:34
Speaker 7: follow the directions and boom, and you can typically refinance
1:20:37
Speaker 7: the car that's on your personal credit and put it
1:20:40
Speaker 7: into your LLC, even if your LLC is new. Bank
1:20:44
Speaker 7: of America will typically allow up to four auto loans
1:20:48
Speaker 7: per LLC.
1:20:49
Speaker 4: So what does that mean? They will run your experience credit?
1:20:52
Speaker 9: Right?
1:20:53
Speaker 3: But check it out?
1:20:54
Speaker 7: You will you you were going to run your credit
1:20:55
Speaker 7: anyway on the personal side to refinance it to get
1:20:58
Speaker 7: a lower payment. So now imagine and if you have
1:21:00
Speaker 7: you guys just said you guys have Uyo University, and
1:21:03
Speaker 7: then your leisure right.
1:21:04
Speaker 4: That's eight. That's eight all the loans that you can
1:21:06
Speaker 4: get with Bad America.
1:21:08
Speaker 6: That is a bar.
1:21:10
Speaker 8: I just I just went through this process too, and
1:21:12
Speaker 8: they were trying to tell me. I won't say the dealership,
1:21:14
Speaker 8: but they were saying that I couldn't do that. I
1:21:16
Speaker 8: had to get it in my business name off the
1:21:19
Speaker 8: like once I did it. So that's a big bar.
1:21:21
Speaker 8: And in addition to that, and I know you said
1:21:22
Speaker 8: it earlier, one of those things is obviously you're going
1:21:25
Speaker 8: to be a personal guaranteur because your business is so new,
1:21:27
Speaker 8: if it's so new, but making sure that you make
1:21:30
Speaker 8: your payments in your LLC's name, because, like you said,
1:21:33
Speaker 8: when you're trying to get a home, that debt to
1:21:36
Speaker 8: income ratio, you need to prove that, hey, they're going
1:21:38
Speaker 8: to look at that loan, that loan amount, they're going
1:21:40
Speaker 8: to count towards your debt to income if you can
1:21:42
Speaker 8: prove that your business is paying for it. Like you
1:21:44
Speaker 8: said it earlier, I just want to reiterate it. It
1:21:46
Speaker 8: wipes it away. It doesn't count towards your debt to income.
1:21:48
Speaker 8: So make sure that when you get it in the
1:21:50
Speaker 8: LLC's name. Make sure that payments consistently are coming from
1:21:54
Speaker 8: the LLC, and then when it's time that if you're
1:21:56
Speaker 8: trying to get a home and get a mortgage, you
1:21:58
Speaker 8: can show those payments and have that payment here to
1:22:00
Speaker 8: prove that it's not really a part of your death income,
1:22:02
Speaker 8: your personal death income.
1:22:03
Speaker 3: Absolutely.
1:22:04
Speaker 6: Yeah, yeah, yeah, all right, let's go to Franklin.
1:22:08
Speaker 3: We coming to you.
1:22:09
Speaker 6: Franklin. What's going on? I mute yourself, you've been unmuted?
1:22:11
Speaker 6: What's up?
1:22:14
Speaker 9: Hey, how you guys doing. Appreciate everything on the culture
1:22:18
Speaker 9: and Jose fellow service member as well, So appreciate all
1:22:21
Speaker 9: the game giving out. I got a question as far
1:22:23
Speaker 9: as like trying to begin the process for getting business credit. So,
1:22:27
Speaker 9: like I said, I'm in the military, excellent credit score.
1:22:30
Speaker 9: I checked my AMEX cards to see I'm a spending
1:22:33
Speaker 9: part head and it was over six figures. I know
1:22:35
Speaker 9: you mentioned that, like with all the financial literacy education
1:22:41
Speaker 9: that we're doing and stuff, that is something you could
1:22:43
Speaker 9: potentially start an LLC for people in the conferences spending
1:22:46
Speaker 9: money that way. Can you elaborate that, collaborate that a
1:22:49
Speaker 9: little bit?
1:22:50
Speaker 6: Yep.
1:22:50
Speaker 7: So the one of the biggest things that people fall
1:22:53
Speaker 7: into debt with. And you notice it with people student loans, right,
1:22:58
Speaker 7: what are they doing. They're they're going into debt because
1:23:02
Speaker 7: they are spending money on education to ultimately either get
1:23:07
Speaker 7: them a job or start a business and things like that.
1:23:09
Speaker 4: Right, Well, you could kind of do that with an.
1:23:12
Speaker 7: LLC too, And that's why always say check with your account,
1:23:14
Speaker 7: check with an attorney, right just to make sure that
1:23:16
Speaker 7: you guys are doing everything in the legal parameters. The
1:23:18
Speaker 7: thing is, if I own a business right now, if
1:23:22
Speaker 7: I have a business credit card, and if I'm going
1:23:24
Speaker 7: to earn your leisure's event and I put the air fare,
1:23:27
Speaker 7: the hotel uber the actual price of the ticket, I
1:23:31
Speaker 7: can put that on an LLC on my business credit
1:23:34
Speaker 7: card and then it becomes a write off.
1:23:36
Speaker 4: Right now, Here's the thing.
1:23:38
Speaker 7: A lot of people that don't have a business are like, oh,
1:23:40
Speaker 7: I can't really start a business yet because I'm going
1:23:43
Speaker 7: to go to this event first and see if that's
1:23:45
Speaker 7: even worth it.
1:23:46
Speaker 4: Right, Well, why not do that now?
1:23:47
Speaker 7: And the thing is that's where your umbrella LLC comes in,
1:23:50
Speaker 7: you know Solano Management LLC. Right, And you can put consulting,
1:23:54
Speaker 7: you can put you know, marketing, you know whatever.
1:23:56
Speaker 4: And that's why always say.
1:23:57
Speaker 7: Check within accountant and an attorney to make sure you
1:23:59
Speaker 7: guys are doing it right. The thing is is now
1:24:02
Speaker 7: anytime you travel, anytime you go to an event, networking event,
1:24:05
Speaker 7: whatever the case is, that becomes a write off because
1:24:07
Speaker 7: you're trying to educate yourself into becoming an entrepreneurship. But
1:24:11
Speaker 7: a lot of people think that you have to actually
1:24:12
Speaker 7: have that perfect LLC set up before you can do that.
1:24:15
Speaker 7: And just think backwards a little bit, as if like
1:24:17
Speaker 7: when people go to school and they get school loans
1:24:20
Speaker 7: to get the education, think of it the same way.
1:24:23
Speaker 7: You're opening up an LLC to put everything into the
1:24:25
Speaker 7: business credit to eventually learn how to do business, to
1:24:28
Speaker 7: learn how to do you know, quick books and bookkeeping
1:24:30
Speaker 7: and you know all that good stuff that an LLC
1:24:32
Speaker 7: and a business does. And that's how it could become
1:24:35
Speaker 7: a true write off because you can write off mileage,
1:24:37
Speaker 7: you can write off airfare, you know, gas, education and
1:24:40
Speaker 7: things like that, and.
1:24:41
Speaker 4: Next thing you know, your business might not be making
1:24:43
Speaker 4: money right now.
1:24:44
Speaker 7: But guess what, when you have that great business idea
1:24:46
Speaker 7: and it does kick off, you have all the business credit,
1:24:49
Speaker 7: you have the education, you have everything already set up,
1:24:52
Speaker 7: so you're ahead.
1:24:52
Speaker 4: You're ahead of the game a lot.
1:24:57
Speaker 9: No, that's perfect. I appreciate that you answer my question.
1:24:59
Speaker 8: Thank you, appreciate you frankly. All right, let's let's go.
1:25:05
Speaker 8: Let's let's do this. Let's go to dd. We coming
1:25:07
Speaker 8: to you, Didy. What's going on on?
1:25:09
Speaker 6: Mute yourself you've been unmuted.
1:25:12
Speaker 17: Hey, guys, good evening. I knew you were gonna call
1:25:15
Speaker 17: me as soon as I flipped over to my notes
1:25:17
Speaker 17: to take down notes.
1:25:18
Speaker 6: One whose was just saying, perfect time.
1:25:22
Speaker 17: It's a pleasure to be here. I'm excited at what
1:25:24
Speaker 17: you guys are doing. Is always very impressed, very appreciative.
1:25:29
Speaker 17: Like the other caller, you guys have really given me
1:25:31
Speaker 17: a community space. I was in nonprofits teaching financial literacy
1:25:35
Speaker 17: about ten years ago, and I felt like we were
1:25:37
Speaker 17: the only ones there. So it's relief to see you
1:25:40
Speaker 17: guys taking this charge and everyone's so excited. But I
1:25:45
Speaker 17: did want to ask about I know, with personal credit,
1:25:49
Speaker 17: when you submit applications within a certain timeframe, that counts
1:25:52
Speaker 17: as one inquiry? Is it the same with the business
1:25:57
Speaker 17: accounts in the loans?
1:25:58
Speaker 18: Like?
1:25:58
Speaker 10: Is it different?
1:25:59
Speaker 17: Like business credit applications are in one category and business
1:26:04
Speaker 17: loan applications or in another, or it doesn't matter, like
1:26:06
Speaker 17: how does that work?
1:26:08
Speaker 4: It's a great question.
1:26:09
Speaker 7: I love these type of questions because it gets my
1:26:11
Speaker 7: brain thinking right, and it gets your obviously your brain
1:26:13
Speaker 7: is working. So just so you guys know, right, any
1:26:18
Speaker 7: auto loan, personal loan, mortgage inquiry, right, anything that has
1:26:24
Speaker 7: the word loan on it, la n anything that has
1:26:28
Speaker 7: associated with the loan. If anything that's typically done within
1:26:31
Speaker 7: the same category within thirty days thirty to forty five
1:26:35
Speaker 7: days will typically be counted as one. So if you're
1:26:38
Speaker 7: going for several lines of credit, or if you're going
1:26:40
Speaker 7: for several business all the loan, bank account, business order loans,
1:26:44
Speaker 7: or if you're going for hard money with the lender,
1:26:46
Speaker 7: whatever the case is, typically anything within that same category, right,
1:26:52
Speaker 7: that auto loan or that business all a loan or
1:26:55
Speaker 7: that business you know, a line of credit loan, whatever
1:26:57
Speaker 7: the case is, Yes, it will typically count as one. Okay,
1:27:02
Speaker 7: if it's done within that period. Now, a business credit
1:27:05
Speaker 7: card is going to work the same way as a
1:27:06
Speaker 7: personal credit card. So if you're applying for Chase, which
1:27:09
Speaker 7: runs experiences your experience Personal American Express Personal right cabbage
1:27:15
Speaker 7: personal right, that doesn't count as three. It only counts
1:27:19
Speaker 7: as really, I mean, it doesn't count as that's gonna
1:27:21
Speaker 7: count as three separate ones. I'm sorry, because you have
1:27:23
Speaker 7: your American Express, you have your Chase, and you have
1:27:26
Speaker 7: your cabbage.
1:27:27
Speaker 5: Right.
1:27:27
Speaker 7: So that's three separate auto loan, three separate inquiries. Okay,
1:27:31
Speaker 7: Because so every single credit card inquiry, no matter if
1:27:33
Speaker 7: it's personal or business, is gonna count as one. But
1:27:37
Speaker 7: any a loan inquiry in the same category within thirty
1:27:41
Speaker 7: to forty five days is gonna count as one. So
1:27:44
Speaker 7: even even with an auto loan company that you you know,
1:27:46
Speaker 7: you go to the dealership and they run your credit
1:27:48
Speaker 7: ten times, it doesn't affect your credit score ten times.
1:27:51
Speaker 7: It only affects your credit score once if it's done
1:27:53
Speaker 7: within the same period.
1:27:56
Speaker 17: Okay, thank you so much. I appreciate it.
1:27:58
Speaker 6: Thank you, guys, said, I get back to my notes.
1:28:04
Speaker 6: I appreciate you. All right, let's let's go to Christian.
1:28:09
Speaker 3: We come to you.
1:28:09
Speaker 6: You yourself, you've been immuted. What's going on Christian?
1:28:17
Speaker 10: Hey, how you guys doing Christian?
1:28:19
Speaker 7: Here?
1:28:21
Speaker 5: Great question?
1:28:23
Speaker 18: Actual you two questions and one is for Rashan and
1:28:27
Speaker 18: so for some of us that I've been grandfather, then
1:28:30
Speaker 18: we've been with Eyl from like just before COVID. Do
1:28:33
Speaker 18: the rates go up for us as well? Or does
1:28:38
Speaker 18: it Does it change?
1:28:40
Speaker 2: And that's good, that's a good question. It stays the same.
1:28:42
Speaker 2: And that's just like a stock. That's just you know,
1:28:45
Speaker 2: people that got in early. They you know, so some
1:28:47
Speaker 2: people got in that ninety nine dollars for the entire year,
1:28:50
Speaker 2: and then every year it'll just be ninety nine dollars
1:28:52
Speaker 2: as long as they want to renew. So they renew
1:28:53
Speaker 2: that price at ninety nine dollars. So you know, that's
1:28:57
Speaker 2: another benefit. You know, as as the value goes up,
1:29:01
Speaker 2: as the information goes up, as more and more videos
1:29:03
Speaker 2: get archives, then you know, the price changes.
1:29:06
Speaker 3: But whatever you whatever you pay, you lock in at.
1:29:09
Speaker 3: So whatever price you got, what price you in at.
1:29:12
Speaker 10: I got in I think at two ninety nine something
1:29:14
Speaker 10: like that.
1:29:14
Speaker 3: Yeah, and ninety nine, so yeah, now it's two thousand,
1:29:18
Speaker 3: you know, So yeah, there you have it.
1:29:20
Speaker 18: Good investment, yeah, man, one of the best investments I
1:29:23
Speaker 18: haven't made now. The other questions for Jose was that
1:29:27
Speaker 18: Metro at event Fest. I also wanted to say thank
1:29:29
Speaker 18: you for the credit card. The American Express Play. I
1:29:32
Speaker 18: don't know if you remember, but it was like six
1:29:34
Speaker 18: cards that I applied for at the same time and
1:29:36
Speaker 18: it worked out.
1:29:36
Speaker 10: Sot out to you and keep doing what you do.
1:29:39
Speaker 5: I have a.
1:29:41
Speaker 18: So I applied for a Chase card. Big mistake, and
1:29:46
Speaker 18: I think because one of my friends had told me,
1:29:48
Speaker 18: just do it. You get two hundred dollars off of
1:29:50
Speaker 18: flight we're going to Jamaica, and and I think I
1:29:54
Speaker 18: used that, spent about one thousand on it. The limit
1:29:57
Speaker 18: is about two grand, and now my credit score drop
1:30:00
Speaker 18: from eight twenty five to seven ninety.
1:30:03
Speaker 10: How can I fix this?
1:30:06
Speaker 4: Just paid off? I paid it off for it and
1:30:09
Speaker 4: it has the balance already showed on the report at zero.
1:30:14
Speaker 10: No, this happened like five or six days ago, but
1:30:16
Speaker 10: I was traumatized.
1:30:17
Speaker 18: I was like, how the hell you go from eight
1:30:19
Speaker 18: twenty five to seven ninety because of one stupid card
1:30:22
Speaker 18: that I didn't even need.
1:30:23
Speaker 7: I'm gonna tell you why. Because the limit is two thousand,
1:30:27
Speaker 7: your balance is a thousand. So when that balance reported,
1:30:30
Speaker 7: even though the balance is only a thousand, you're at
1:30:32
Speaker 7: fifty percent utilizations.
1:30:34
Speaker 3: To that card.
1:30:35
Speaker 4: So as you pay it down and you paid it
1:30:39
Speaker 4: five or six days ago, it will eventually report at zero.
1:30:45
Speaker 7: Now here's the thing, you know, Now with that card,
1:30:47
Speaker 7: the next trip you go on, use the business ams
1:30:50
Speaker 7: instead of the chase.
1:30:51
Speaker 10: Oh yeah, oh yeah, oh yeah, never again, never again,
1:30:54
Speaker 10: never again.
1:30:55
Speaker 3: Yeah.
1:30:56
Speaker 8: And even in those situations too, Jose, and you can
1:30:58
Speaker 8: correct me. But if he has I'm sure some people
1:31:00
Speaker 8: are in that situation where they have a two thousand limit.
1:31:02
Speaker 8: Before you use it again, try to reach out and
1:31:05
Speaker 8: maybe increase the limit, right, so the utilization rate actually
1:31:07
Speaker 8: goes down. So when you spend a thousand, maybe your
1:31:10
Speaker 8: limit has been increased to five thousand and not a
1:31:13
Speaker 8: percentages in fifty.
1:31:14
Speaker 6: You know what I'm saying, It's like at twenty right.
1:31:17
Speaker 7: And the thing is, man, not even only before you
1:31:21
Speaker 7: use the card, but if you get a proved for
1:31:22
Speaker 7: a credit card and you say your credit score was
1:31:24
Speaker 7: over eight hundred and they only gave you two thousand dollars,
1:31:26
Speaker 7: what you want to do is pick up the phone,
1:31:29
Speaker 7: even if even if your credit is subpar, meaning like
1:31:31
Speaker 7: six hundred and six twenty six fifty. Anytime you guys
1:31:34
Speaker 7: get it proved for a credit card, call them up
1:31:36
Speaker 7: and say, hey, I got a proof for a two
1:31:37
Speaker 7: thousand dollars credit card. But if you look at my
1:31:39
Speaker 7: credit I have five ten thousand dollars limits. There's anything
1:31:42
Speaker 7: you can do with increasing the right there, because not
1:31:44
Speaker 7: only will it save you with inquiry, but yes, when
1:31:47
Speaker 7: you do use it, the utilization will be so low
1:31:50
Speaker 7: it really it really wouldn't matter, you know what I mean.
1:31:52
Speaker 7: So definitely try to get the limit increases sooner than
1:31:55
Speaker 7: later to that way they don't run your credit again.
1:31:57
Speaker 6: Yeah, more trips to Jamaica, Christian.
1:32:01
Speaker 10: Man, because I don't I don't fly. Yeah, thank you,
1:32:03
Speaker 10: thank you.
1:32:04
Speaker 3: Appreciate you. All Right, let's get a few more questions
1:32:09
Speaker 3: if you can.
1:32:10
Speaker 6: Let's let's do uh, let's go.
1:32:14
Speaker 3: Ralph.
1:32:15
Speaker 6: We're coming to you, Ralph, what's going on. I'm mute yourself.
1:32:17
Speaker 6: You've been unmuted. What's the deal?
1:32:21
Speaker 5: Pete Solms, app appreciate you calling me.
1:32:25
Speaker 2: Uh.
1:32:25
Speaker 19: One, I'm an eu L erner. And two I joined
1:32:30
Speaker 19: the Credit Academy about I think last month in February,
1:32:33
Speaker 19: so I'm plugged in on both sides. Appreciate what you
1:32:37
Speaker 19: guys are doing doing for our people. Just this fine
1:32:40
Speaker 19: youal literacy is incredible. Questions for Jose Jose so I
1:32:47
Speaker 19: it was on his zoom earlier today. So I'm waiting
1:32:49
Speaker 19: for the link to sign up with the credit coach.
1:32:51
Speaker 19: But while I got you on the business side, So
1:32:56
Speaker 19: I have a business, been around for well over ten
1:32:59
Speaker 19: years now fifteen years actually, and I have several just
1:33:03
Speaker 19: a couple of business credit cards. So now this this
1:33:05
Speaker 19: is what I were here everybody you know, you guys
1:33:08
Speaker 19: and other folks on social media running all these plays
1:33:10
Speaker 19: on the credit cards. Something I've always shied against. This
1:33:14
Speaker 19: got I have like two or three credit cards, like
1:33:16
Speaker 19: I got AX, I've had for like since twenty ten.
1:33:20
Speaker 19: Got a Bank of America. I've had probably the same length,
1:33:22
Speaker 19: may maybe slightly longer. My question is now I want
1:33:27
Speaker 19: to take it to take this business credit to the
1:33:29
Speaker 19: next level, and like I want to get the Capital
1:33:34
Speaker 19: one Spark card the two percent unlimited. But I'm looking
1:33:38
Speaker 19: to do that strictly in the business name. Is there
1:33:42
Speaker 19: a way or maybe those details I have to work
1:33:44
Speaker 19: out when I get with the coach, But what what's
1:33:46
Speaker 19: the way to do it where I'm not using my
1:33:49
Speaker 19: personal credit.
1:33:51
Speaker 7: So one I would stay away from the Capitol one
1:33:55
Speaker 7: Spark card. If you already have several business credit cards
1:33:59
Speaker 7: with you know it sounds like you do. The reason
1:34:01
Speaker 7: why is because Capital one Spark also reports to the
1:34:04
Speaker 7: personal side, So that is a good credit card if
1:34:07
Speaker 7: you're just starting out with building business credit, and you're
1:34:09
Speaker 7: just starting out even with building personal credit. Capital one
1:34:13
Speaker 7: Spark is gonna run all three bureaus because any Capital
1:34:16
Speaker 7: one credit card, they're gonna run Equifax, Experience, and TransUnion.
1:34:19
Speaker 7: When you get a credit card with them, it doesn't
1:34:21
Speaker 7: matter if it's the Capital one, Quicksilver Spark, a venture,
1:34:25
Speaker 7: doesn't really matter. So I would stay away from them.
1:34:28
Speaker 7: And honestly, when was the last you said you've had
1:34:30
Speaker 7: your MX since twenty ten?
1:34:32
Speaker 5: Yes, that's correct, okay.
1:34:34
Speaker 4: And it's a personal or a business.
1:34:36
Speaker 6: No, it's business, okay.
1:34:38
Speaker 7: So what you should do log into your American Express
1:34:42
Speaker 7: account online AmericanExpress dot com, not the app, look at
1:34:47
Speaker 7: whatever business credit cards you want, and when you apply
1:34:50
Speaker 7: with them like that, because you already have a relationship
1:34:52
Speaker 7: with American Express, you can typically apply for all the
1:34:55
Speaker 7: charge cards and two more revolving credit cards without running
1:35:00
Speaker 7: your credit at all. And I think that would be
1:35:02
Speaker 7: a better play for you if you're worried about them
1:35:03
Speaker 7: running your credit. It'll still be a personal guarantee, but
1:35:06
Speaker 7: they're not going to do a personal credit check.
1:35:09
Speaker 3: Ah, got it, got it? Okay, got that.
1:35:11
Speaker 19: That makes sense because the reason I want to avoid
1:35:14
Speaker 19: the personal now is in the process of buying the house,
1:35:16
Speaker 19: so I don't want to keep those inquirers down sop.
1:35:19
Speaker 4: So they won't run your credit at all.
1:35:20
Speaker 7: Man, if you do it that way, you just got
1:35:22
Speaker 7: to make sure you log into your account at American
1:35:24
Speaker 7: Experts dot com, which you're using him in password, and
1:35:26
Speaker 7: apply like that and they won't ask you for your
1:35:28
Speaker 7: social to just ask you for EI in business information
1:35:31
Speaker 7: and you'd be good to go.
1:35:32
Speaker 5: Got it. Appreciate you guys.
1:35:34
Speaker 2: Help appreciate your Wel you, sir. Let's get more and
1:35:41
Speaker 2: Jose before we get to the last question. Jose's teaching
1:35:44
Speaker 2: a class in a couple of weeks, so anybody that
1:35:47
Speaker 2: wasn't able to get their questions answered, make sure you
1:35:49
Speaker 2: tap into that class. And he actually teaches I think
1:35:52
Speaker 2: like three or four classes once a month. Yeah, once
1:35:55
Speaker 2: a month, yeah, credit class once a month.
1:35:57
Speaker 7: Yeah.
1:35:58
Speaker 2: He's actually a tenured professional to teach is a class
1:36:01
Speaker 2: regularly for Eyo University. So this stuff literally, they you know,
1:36:04
Speaker 2: get this all the time, and this is just one
1:36:06
Speaker 2: facet of it being talking about the real estatement, talking
1:36:09
Speaker 2: about the financial planning, the book club, all that stuff.
1:36:11
Speaker 2: So you know the value, Like I said, the retail
1:36:14
Speaker 2: price for Eyo University is two thousand dollars, but right
1:36:17
Speaker 2: now it's six ninety nine. So six hundred and ninety
1:36:20
Speaker 2: nine is the actual price right now, and that changes
1:36:24
Speaker 2: forty eight hours.
1:36:25
Speaker 3: Like I said, we'll still run a sale.
1:36:27
Speaker 2: It'll probably be fifty percent off, so they'll probably be
1:36:28
Speaker 2: a thousand dollars on Friday or after Friday.
1:36:31
Speaker 3: But yeah, it's six ninety nine right now. That's what
1:36:34
Speaker 3: we did last time, and that we just never changed it.
1:36:36
Speaker 3: We just let it run for a whole month.
1:36:38
Speaker 2: So I don't know, it sounds like it's like a
1:36:40
Speaker 2: good deal to me, But you know, if you're interested,
1:36:43
Speaker 2: click the link if you want to, if you want
1:36:45
Speaker 2: to be a part of it. But I mean, the
1:36:47
Speaker 2: information is priceless.
1:36:48
Speaker 6: Candice, Hello, Hello, I see you already there. I have
1:36:52
Speaker 6: to tell you. I'm mute yourself. You got to you
1:36:54
Speaker 6: have the final question? What's going on?
1:36:56
Speaker 5: Wow?
1:36:56
Speaker 10: That's awesome.
1:36:57
Speaker 20: Okay, So I've joined you guys, I can't remember back
1:36:59
Speaker 20: in scept remember, I think, and I started following you
1:37:04
Speaker 20: a following Jose and him five hundred, and you guys
1:37:09
Speaker 20: were talking about I remember trying to get credit cards
1:37:13
Speaker 20: and before my credit was like five ninety and today
1:37:16
Speaker 20: I got a new score from Experience seven eight.
1:37:21
Speaker 3: Congratulations. I've never been seven.
1:37:24
Speaker 6: Ever met congratulations fires in a chat for kenn this
1:37:28
Speaker 6: one time. Congratulations love it.
1:37:31
Speaker 20: So my question I was, I was listening to someone
1:37:33
Speaker 20: and they were saying, there's a twenty four or five
1:37:35
Speaker 20: rule because what I was trying to do the other
1:37:38
Speaker 20: day I tried because my number, my scores had jumped up.
1:37:41
Speaker 20: I was trying to get a Sam's Business card because
1:37:45
Speaker 20: I don't want to start my Airbnb and I was
1:37:47
Speaker 20: trying to get a Sam's Business card and they I
1:37:49
Speaker 20: didn't get the immediate approval, and I still haven't gotten
1:37:52
Speaker 20: a letter at you know, saying why, But is it
1:37:54
Speaker 20: because I've already done so many credit cards and like
1:37:58
Speaker 20: I guess, I got my car ref I got two
1:38:01
Speaker 20: new credit cards, and I try to do a couple
1:38:02
Speaker 20: other things. And I did all that in January and February.
1:38:06
Speaker 4: So do you think so the five twenty four rule
1:38:09
Speaker 4: typically applies to Chase.
1:38:11
Speaker 7: That's the biggest one that I've seen it with, meaning
1:38:13
Speaker 7: that if you have like five or more open credit
1:38:15
Speaker 7: cards in the last twenty four months, that's typically like
1:38:18
Speaker 7: a Chase rule. But with Sam's Business, did you have
1:38:22
Speaker 7: you you had to provide a personal guarantee for that.
1:38:28
Speaker 4: With the SAME's business, Candice, no, So with.
1:38:31
Speaker 20: The Sam's Business, I tried to add it in my yeah. No,
1:38:37
Speaker 20: they didn't even ask.
1:38:38
Speaker 4: Me for my personal yeah Sames, I'm saying Sam's Sam's.
1:38:43
Speaker 7: Club, BJ's Costco. They should never ask you for your
1:38:47
Speaker 7: personal credit. So that has nothing to do with the
1:38:50
Speaker 7: personal credit side and has everything to do with the
1:38:52
Speaker 7: business credit.
1:38:53
Speaker 4: So build your do you know you have the LLC
1:38:56
Speaker 4: and you how long have you had the LLC open
1:38:58
Speaker 4: and everything? It started building business credit.
1:39:00
Speaker 3: I've had my LLC since.
1:39:03
Speaker 7: December December, okay, So what you want to do is
1:39:06
Speaker 7: start building more business credit, right, Get nav dot com
1:39:09
Speaker 7: business Boost that will give you an automatic trade line
1:39:12
Speaker 7: for each bureau you know, build the regular accounts you
1:39:15
Speaker 7: line you're you're in e y L. So watch the
1:39:17
Speaker 7: videos that I did on the proper steps to building
1:39:19
Speaker 7: the business credit, get some gas cards, and then in
1:39:23
Speaker 7: like sixty days go back to Sam's Club, Bjy's Costco
1:39:27
Speaker 7: things like that and apply again and you should get approved.
1:39:30
Speaker 17: Okay, all right, perfect, Thank you guys so much.
1:39:33
Speaker 6: Thank you and congratulations on that seven hundred. That's life changing.
1:39:36
Speaker 12: Yeah, I'm so excited.
1:39:39
Speaker 3: Eazy Jose always a pleasure man.
1:39:41
Speaker 2: Before we go, I want to I want to give
1:39:43
Speaker 2: you an opportunity to talk because I know a lot
1:39:45
Speaker 2: come of people have asked, like, you know, how can
1:39:48
Speaker 2: they contact you or different things of that nature.
1:39:50
Speaker 3: So can you talk about that? Yeah? So what kind
1:39:54
Speaker 3: of services you provide? Stuff like that?
1:39:56
Speaker 7: Yeah, no, no doubt man. I mean, thank you guys again,
1:39:58
Speaker 7: this is awesome. You know what I mean, flies when
1:40:00
Speaker 7: you're having fun. I didn't realize how you know. We've
1:40:02
Speaker 7: been on here our in forty minutes man, And I
1:40:04
Speaker 7: love answering questions. This is like what I love to
1:40:06
Speaker 7: do and ask people that sit there in my program.
1:40:09
Speaker 4: We do this every week as well.
1:40:12
Speaker 7: The things that we do guys is we help you
1:40:14
Speaker 7: with your personal and business credit. If you only want
1:40:16
Speaker 7: help with your personal credit, that's fine. If you want
1:40:19
Speaker 7: business credit help, that's fine, too. You know, our program
1:40:23
Speaker 7: is not deletion driven, meaning that you could be in
1:40:26
Speaker 7: our program six months, nine months, twelve months and not
1:40:29
Speaker 7: get any deletions. That's that's sometimes the part of credit
1:40:31
Speaker 7: repair and also building your credit. But we will teach
1:40:34
Speaker 7: you how to either settle that account, pay it off,
1:40:36
Speaker 7: build a new credit, whatever the case is. And our
1:40:39
Speaker 7: program is only one hundred dollars a month, right, You're
1:40:41
Speaker 7: really not going to come across a program that does
1:40:43
Speaker 7: your personal credit for you and teaches you our business
1:40:46
Speaker 7: credit and everything that we provide for one hundred dollars
1:40:48
Speaker 7: a month. Cancel any time there's no money up front,
1:40:52
Speaker 7: and that's what it is. It's one hundred dollars a month,
1:40:54
Speaker 7: and you decide what you want to do. A lot
1:40:57
Speaker 7: of the people that have come into our program never
1:40:59
Speaker 7: even thought of opening them a business, but through our program,
1:41:02
Speaker 7: we teach them the importance and this step by step
1:41:05
Speaker 7: guide on how to do everything from starting the LLC,
1:41:07
Speaker 7: get in the EI in, done and brad shoot everything else.
1:41:10
Speaker 7: And now we're empowering you to use your credit to
1:41:13
Speaker 7: leverage not only return on investment, but also education.
1:41:17
Speaker 4: So every single course that EYL has ever thrown out there.
1:41:20
Speaker 7: I have used the business credit card, and I think
1:41:22
Speaker 7: it's like two of them that I haven't bought yet,
1:41:24
Speaker 7: like the vending course and I think the trucking course.
1:41:26
Speaker 4: Everything else.
1:41:27
Speaker 7: I've bought it because it's there's power and education and
1:41:31
Speaker 7: you could use your credit for more than just buying supplies.
1:41:34
Speaker 7: You can use your credit to leverage more education and
1:41:37
Speaker 7: to help you enter rooms that you never thought possible.
1:41:41
Speaker 4: Guys, So you know, like I said, my program is
1:41:43
Speaker 4: not a three month program.
1:41:45
Speaker 3: Six month.
1:41:45
Speaker 4: I'm not going to promise your credit score. I'm not
1:41:47
Speaker 4: gonna promise you any deletions, but I will promise you
1:41:49
Speaker 4: the access to.
1:41:50
Speaker 7: The god credited academy where if you do the work
1:41:53
Speaker 7: and we help you do the work, you have credit
1:41:55
Speaker 7: coaches here in the US. We have we're gonna start doing,
1:41:58
Speaker 7: you know, tours and things like that. We're going to
1:42:00
Speaker 7: see our clients. But give me twelve months. Dedicate twelve
1:42:03
Speaker 7: months to me, and I promise that I've changed the
1:42:05
Speaker 7: trajectory of you and your life and your family as well.
1:42:09
Speaker 2: You have it. Appreciate that, Jose. And once again Jose
1:42:13
Speaker 2: actually teaches monthly for Eyo University.
1:42:16
Speaker 3: Very very good guy.
1:42:17
Speaker 2: Actually has helped family members out, my family and members out,
1:42:22
Speaker 2: So definitely recommend him and his services for sure. And yeah,
1:42:28
Speaker 2: once again Eyo University. This is what we do every
1:42:30
Speaker 2: single week. Jose comes once a month, but we do everything.
1:42:33
Speaker 2: It's not like an investment club. It's not just real estate.
1:42:37
Speaker 2: It's everything, literally everything that we talk about your leisure.
1:42:39
Speaker 2: Everything from entrepreneurship to investing, to cryptocurrency, to real estate
1:42:45
Speaker 2: to credit. So yeah, so you know everything. And like
1:42:50
Speaker 2: I said, it's a community. So we have infinity groups
1:42:52
Speaker 2: inside of it. We have book club, movie club, We
1:42:57
Speaker 2: got the financial planning calls, and actually you can access
1:43:00
Speaker 2: to MG the mortgage Guys Homeboys blueprint.
1:43:02
Speaker 3: I forgot about that.
1:43:03
Speaker 2: So you get access to the home Buyers Blueprint, which
1:43:06
Speaker 2: is like ten hours of education every single thing that
1:43:09
Speaker 2: you need to know. That that alone is probably v
1:43:13
Speaker 2: buying one and two. Yeah, everything you need to know
1:43:14
Speaker 2: about how to buy home, how to rehab a home.
1:43:18
Speaker 2: It's like fifteen hours of information that's included with Ewyo
1:43:21
Speaker 2: University membership. So I mean it's crazy. So yeah, so
1:43:25
Speaker 2: we got the sale running six ninety nine for the
1:43:27
Speaker 2: entire year, for twelve months, and that's going to run
1:43:32
Speaker 2: to the end of Friday, I think, so if you're interested,
1:43:35
Speaker 2: click the link Eyo University and sign up. Man anything
1:43:38
Speaker 2: else you want to talk about before we head out,
1:43:40
Speaker 2: So almost an hour and fifty forty five minutes, So
1:43:43
Speaker 2: watch the replay.
1:43:43
Speaker 3: The replay will be.
1:43:44
Speaker 2: On YouTube, and then we'll put it on podcast outlets
1:43:48
Speaker 2: for study Hall. That'll be out on Friday. So if
1:43:50
Speaker 2: you want to listen to it in your car, check
1:43:52
Speaker 2: it out on Friday on the podcast outlets and then
1:43:56
Speaker 2: this replay will be available on YouTube.
1:44:00
Speaker 8: Yeah, make sure when you join that we have an
1:44:02
Speaker 8: orientation and so a lot of people, you know, when
1:44:04
Speaker 8: they start school, they're a new kid on the block,
1:44:07
Speaker 8: they don't know where to go, and so we have orientation.
1:44:08
Speaker 6: Shout out to jam I know she's in here right
1:44:10
Speaker 6: now that she leads you through the process. Right. So
1:44:12
Speaker 6: we have over one hundred and fifty videos archive.
1:44:15
Speaker 8: But they're section into your interests and so once you
1:44:18
Speaker 8: find your interests, not only you're gonna find videos there,
1:44:20
Speaker 8: but you're gonna find people who have like minds in
1:44:22
Speaker 8: that inside that space too. And so it's a space
1:44:24
Speaker 8: where you can actually ask questions and find people with
1:44:27
Speaker 8: similar backgrounds and similar interests. It might even be in
1:44:31
Speaker 8: a similar area, right, you might find people that live
1:44:34
Speaker 8: where you live that are interested in the things you are.
1:44:36
Speaker 8: So shoutut to everybody that's been in our groups, in
1:44:39
Speaker 8: our shout out to jam for the orientation.
1:44:41
Speaker 2: Yeah, that's it all right, guys, been real see you
1:44:45
Speaker 2: on the other side. Shout out to Andre Hatchitt. Appreciate you, brother.
1:44:51
Speaker 6: Your love is love.
1:44:51
Speaker 4: Y'all appreciate you, bro, Thank you guys.
1:44:54
Speaker 2: Thanks everybody for the super chats. Also, we ain't get
1:44:56
Speaker 2: a chance to read it, but it's all love.
1:44:57
Speaker 6: Oh yeah, shout to y'all.
1:45:00
Speaker 21: Just realized your business needed to hire someone yesterday. How
1:45:04
Speaker 21: can you find amazing candidates fast? Easy? Just use Indeed.
1:45:09
Speaker 21: Stop struggling to get your job posts seen on other
1:45:12
Speaker 21: job sites. With Indeed sponsored jobs, your post jumps to
1:45:15
Speaker 21: the top of the page for your relevant candidates, so
1:45:18
Speaker 21: you can reach the people you want faster. According to
1:45:21
Speaker 21: Indeed data, sponsored jobs posted directly on Indeed have forty
1:45:25
Speaker 21: five percent more applications than non sponsored jobs. Don't wait
1:45:29
Speaker 21: any longer, speed up your hiring right now with Indeed,
1:45:33
Speaker 21: and listeners of this show will get a seventy five
1:45:35
Speaker 21: dollars sponsored job credit to get your jobs more visibility
1:45:38
Speaker 21: at indeed dot com slash pod Katz thirteen. Just go
1:45:44
Speaker 21: to indeed dot com slash pod katz thirteen right now
1:45:49
Speaker 21: and support our show by saying you heard about Indeed
1:45:52
Speaker 21: on this podcast. Terms and conditions apply. Hiring Indeed is
1:45:56
Speaker 21: all you need