My Business Credit Journey to 1,000,000

Hey Guys,

How is everything. I know that I have just been posting on Shelf Corp Secrets the passed few days, but I had lots of info to get out on that. Anyway.  I have just started a Category on the blog called “Making Money With Business Credit”. I decided to do this because I know that although many of you guys have businesses in which need the credit, some of you guys do not have businesses or have businesses that you want to try out. So now that I have moved from directly offering services, I am going to share with you my ideas and my experiences with making money from Business Credit.

When I first acquired business credit a couple years ago, I started with revolving vendor lines and I exported the merchandise overseas to make a profit. This was easy for me as I am originally from the Caribbean, and my younger brother still runs the business. I have some ideas that can be implemented here in the US to make an income with the credit you get and I will like to share it with you so that you can attempt to do the same thing.

So my first idea is to use the $5800 Key bank card that I got with my last shelf corporation to generate income. But what? So I have been combing the internet looking for ideas and I have one. Buy an existing website that is currently generating income but will cover the monthly payment on the card. I also want a business that involves little time. I started my search on forums.digitalpoint.com(a forum full of web masters) for sites for sale, and that took me to Sitepoint.com. Sitepoint has loads of websites for sales with income.

So lets do a little math. Established websites usually sell for 8-11 times the monthly income. So if the website is avaraging $100 per month, the site will sell for $800-$1000. I want to spend $3000-$5000, so the site that I buy should have a monthly income of $272-$625. Don’t get me wrong, I can get a deal, but these are the numbers I am dealing with. So with these numbers, we should make $272/month for $3000 up to $625/month for $5000. The minimum payment for $3000 at 10% is $75 and for $5000 is $125. So in a perfect world, with my first venture, I should make a minimum of $197/month to $500. The idea is also to make a six figure income with the use of business credit. So eventually we want to make $8400 a month from these little ventures. At $200 per month, I need 41 websites and at $500/month, I will need 17 websites.  I know by now you must think I am either crazy or wondering where the hell I am going with all of this. The thing is, if I need 40 websites, I need time to work on all of them. And I do not want to work more than 40 hours a week (I am from the islands…i am tired of these long days..lol).

With all those numbers in mind, other than the price and income that I am looking for, if the website makes $200/month, I should only have to put in an hour of work per week on that income generating website. If it makes $500/month, I can only put in 2.5 hours a week. Let us see what I can find and if this will work out.:)

I am open to any ideas that you guys have.

- marc