Leveraging Credit

So, how do we go about accessing capital? One of my favorite ways of acquiring funds is by leveraging credit. I often refer to this as creating money from thin air. Credit is my favorite way because it doesn't really exist. It isn't tangible, you can't touch it, yet I have control over what my credit looks like and how it is structured.

There are three main types of credit. The first is your own personal credit. These are lines of credit immediately available to you and me, both secured on your home equity, and those unsecured lines of credit. This type of credit tends to be quite limited, and will depend largely on your credit score. It is calculated by one of the big three credit bureaus, using mathematical methods that incorporate credit history, amount of credit used and available, number of late and on-time payments, whether any payments due are in default and other variables. The most widely used of these is the FICO, invented by Fair Isaac and Company, the first credit reference agency to use credit scoring. Your FICO score will range from 300-850. There are many organisations that offer services to clean your credit report and boost your credit score in as little as 24 hours. In reality, although this is possible, it takes time. While it is possible to boost your credit score, like anything in life, this takes time and effort. I can show you how you can boost your credit score. Many of our students can jump 200 points in as little as 90 days.

The second type of credit is business credit. Through my Millionaire Credit Coaching program, I will show you this stage in more detail. In a nutshell, it involves using your business to leverage credit from lenders. Your business will also have to build its own credit score. I will show you how to build a credit score as quickly as possible by using particular suppliers who report to specific credit reference agencies.

The third type of credit is referred to as OPC, Other People's Credit. This involves using other people's credit to fund your investment ideas.

Through each of these avenues you can access hundreds of thousands, even millions, of dollars. Head over to www.creditlinemillionaire.com for more information on my Millionaire Credit Coaching program which will help you leverage the credit you need to fund your investment opportunity.