how is everything? I have decided to do what I did at the beginning of the blog. I have decided to build business credit from scratch and document it so that you guys can follow my lead once again. I have done this before but have decided to do it again because there has been some changes in the game.

1. Some of the initial accounts require a prepayment now.
2. There are one or two new vendors.
3. DnB credit builder’s structure has changed. They now market it is a credit monitor and there is a $69 per month plan, so they may be more feasible to use on each corp.
4. Some of the later accounts are now harder to get.
5. Some of the cash accounts are gone and there are one or two new ones..

The plan is to start with a brand new corporation with a clean file as well as a shelf corporation with a clean file.

Marc

Fairly recently, DnB has changed the way the sell their credit builder. I personally never thought it was branded properly as it was not a true credit building program, as it is some assistance in uilding business credit.

DnB has now bundled there previous credit builders, where you add credit references with  DnBi Self Monitoring. Now you pay to monitor your own credit and you have the possibility to add credit references.

The new tactic that is being employed to sell this service usually starts when you start appluing for business credit. DnB calls the number on file to inform you, the customer that there has been companies that have been pulling your credit and they claim that you should know that they are pulling the file. They will make it seem like there are more companies than those that you have applied to, just to get you flustered to make a quick rash decision.

In my opinion, I would not generally purchase the service unless I want to get a quick paydex. If that was the case I would purchase th “DNBi SelfMonitor Benchmarking – Monthly”. In this case you will be paying $69 per month for self monitoring and you can add 3 trade references per quarter. This in my opinion lowers the initial outlay of cash and still gives the ability to get a very fast 80 paydex..

Marc

A few years ago, I was considering starting a real estate syndicate. Basically this is where a group of people will invest money in order to invest in real estate. I was speaking to one of my mentors today and telling him that I think now is a great time to do so. I have been giving advice to a client of mine on which real estate markets are relatively stable and accessible when I realized that this is a great time to reconsider starting the real estate syndicate. Although it is very possible to purchase real estate with business credit, forming a syndicate will allow for a smaller initial investment by each individual which will spread the risk among the individuals. In speaking, we were considering a minimum investment of $1000. We have seen a number of homes in the south miami area and houston area which seem to give a pretty good return on your money, when it comes to renting and with the bottoming of real estate prices, the potential for an increase in value is very likely.

I will like to get some feedback from you guys if you think this is a good idea and if you think it is something that will interest you.

Marc

You can buy homes cash. Yes, you read it right, with cash. This will mean that you will pay for the house in full without getting a mortgage. Basically you will have to find homes that are cheap enough to acquire enough business credit to buy it cash and still have the ability to afford the monthly payments. It seems that Detroit is giving us this opportunity. I am not saying that we could purchase homes, rent them out and sell them in a couple months and make a killing, but what I am saying is that Detroit lends for the ability to own real estate for a very affordable price.

I do not claim to be a real estate specialist but I have seen homes listed in Detroit for as little as $8000 which needed as little as $1000 in repairs. You can view some of these listings at http://www.myfirstmichiganhome.com/.

These guys not only find you properties, but they work with contractors to get the house up to standard, and they also assist in finding renters (section  8 in many cases) to fill the houses.

I myself have given a quick browse of creaigslist Detroit so see what is available. One of my goals here is to purchase on property by February, with business credit.

Marc

Well as I always say, you always learn something new. Apparently, New Mexico LLCs are exempt from filing annual reports. Yea, I know, CRAZY. So you can form an LLC in New Mexico, get the EIN and DUNS number and completely forget about it and have a perfectly good shelf corporation in a number of years. Forming an LLC in NW is also as cheap as $50 if you directly through the SOS(secretary of state).

I only learnt this because a client came to be to build a corp that he Inc’s in 2002 and I was amazed that they do not have to file anything.

There are also a number of Tax and Privacy advantages when forming an LLC in NW and you can view them at http://www.keepyourassets.net/nmllc.html.

GET MY EBOOK SHELF CORP SECRETS

Usually a Corp will get a little more credit per creditor than an LLC, but this situation is specifically to forming shelf corporations in NM..

In concluding, spending $50 to incorporate a NW corporation and waiting 2 years for it to age and selling your shelf corporation for a mere $500, will give a 900% return in 2 years. I know many of you may say that Shelf Corporations may not be popular or needed in the future, but I cannot see this happening. Even without using them for credit purposes, they are used for other purposes, like getting government contracts.

Borders (734) 477-1039 – Fax Application (877) 254-9229 – Status Update

BP/Amoco Status Update (800)365-6204
Chevron/Texaco Business Card Status Update (888) 243-8358
Citgo Fleet; (734) 477-1039 – Fax Application (877) 254-9229 – Status Update
Citi AA: 888-662-7759
Citibank Status:800-645-7240, 800-288-4653, 800-750-7453
Conoco – Status Line, automated 1-866-289-5622
Experian Business:888-211-0728
ExxonMobil Business Card(800) 903-9966
Key Bank:800-254-2737
Lowes – Status; 1-800-445-6937
Lowes – Underwriter;1-866-232-7443
Lowes Fraud/UW: 800-444-1408
MBNA – 1-800-673-1044
Meijers MC (801) 517-5560
Office Depot – Staus Line, automated 1-800-767-1358
Office Depot;800-767-1358, 800-729-7744 automated line to check status.
Office Max – Status Line, atomated 1-800-283-7674
Philips 66: 866-289-5630, 800-610-1961
Phillips 801-779-7369
Radio Shack;1-800-442-7221
Sam’s UW:800-301-5546, 866-246-4282
Sears – Status; 1-800-599-9710
Shell Fleet Card Status Update(800) 223-3296
Shell: 800-223-3296, 866-438-7435
Shell; 800-377-5150
Staples – Status Line, automated 1-800-767-1275
Staples: 800-767-1291, 800-282-5316
Sunoco Corporate Card(800) 935-3387,(800) 278-6626
Sunoco: 800-310-4773
Target: 800-440-5317
Tiffany:800-770-0800
VALERO (800)324-8464 ACCOUNT STATUS
Valero;1-877-882-5376
Walmart;800-301-5546, underwriting 877-294-7548
Wright Express; 888-743-3893

Hope this helps. If you have any other numbers or emails for business credit contacts please add them

Marc