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Sept. 16, 2024 - Fresh & Fit
01:08:12
How To Make Money With Business Funding w/ Kenneth Smith
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Time Text
Thank you.
Today we're going to do Money Mondays with Smitty here for Business Funding.
Let's go.
All right, and we're back.
So today we're going to do business funding with Smitty.
Shout out to our sponsor, rumble.com slash freshandfit.
And up next, David Green is going to be for BiggerPockets as well.
Yes, yes.
We got Dave in the house right now, guys.
We're going to be doing real estate after this.
So this episode is going to be business funding, guys, helping you guys get started with your business.
If you need funding, you want to start it up, and you need some capital, we're going to be talking about that.
Also, castleclub.tv, as you guys know, rumble.com slash freshandfit.
That is the home base for us.
And Castle Club, we did a great Zoom call yesterday with the guys.
I'm going to go ahead and post it on Cash Club for you guys very soon.
So that'll probably be up maybe today or tomorrow.
I record it.
And we actually streamed it on Twitch yesterday.
So you guys got to kind of get a sneak peek as to kind of the value that we give in there.
We give a lot of good information on real estate, dating, getting in shape, calories, all that stuff.
Tracking your macros, getting in better shape.
So yeah, and then we're going to do Freshly Fit News after.
So yeah, three parts today, guys.
We're going to do, obviously, right now, Funding Your Business.
Then Real Estate with Dave Green.
Then we're going to go ahead and give you guys fresh and fit news, man.
So without further ado, let's introduce our special guest, man.
We know who you are, but they may not.
Smitty, who are you, brother?
Man.
Welcome.
Welcome.
Thank you.
I appreciate it.
Senior entrepreneur, man.
A lot of businesses that I got going on right now, but my main business that I've been focusing on is my funding company.
So that's when people come to me as a done-for-you service to be able to get funded for their business.
I also have a big digital marketing business that has been building and growing like big, man.
Y'all know the platform school?
Yeah, we know school.
Yeah, I think I'm like number one right now, number two out of the whole platform.
Sheesh.
That's the best community on the whole platform.
I've seen you everywhere, bro.
Yeah.
Batman Kevil, No Jumper.
You've been everywhere, brother.
Yeah, 100%.
So, shout out to you.
So, listen, man.
I want to get to know you a little bit better.
Yeah.
Give us your background, where you came from, childhood, and as well as your late parents, what you did for a living.
Yeah, so I'm from Chicago land area.
Grew up, my dad died when I was a baby, so I don't remember anything from him.
Didn't get to grow up with my father, my mom.
That's where I got my hustle from, my mom.
My mom took care of us for the most part.
Then my mom got in some trouble, so she went away for a couple years.
So then I was just with my grandma and my auntie and stuff like that.
So Chicago land area, that's where I was from.
And grew up in the suburbs of Chicago, though, because Chicago was wild, so I didn't want to be there, I'm going to be honest.
Of course not, bro.
But we stayed there for like two years, probably like the worst two years of my life, probably.
Experiencing all the things that you weren't supposed to experience when you're that young.
But that's just the reality of what's going on out there.
And so my mom got a chance to move me back out of the suburbs again.
I wanted to play basketball and stuff like that.
So after that, man, I just stuck to basketball and took college.
You made it out.
What was your first job, bro?
My first what?
First job.
I worked at a clothing and a shoes store.
A shoes store, man.
I wasn't making no money, but I liked dressing fly and having nice shoes and stuff like that.
So that was the only place I probably could work.
All the other jobs, I'd probably walk out within two days or three days.
I'd probably quit.
Do you ever imagine being where you are now, back then?
Actually, nah.
I had a different mindset of thing that I thought I was going to do.
I was, in my head, you know, young man, get to the NBA or go D1 in basketball.
That was on my brain.
That's what I was working hard for at first.
Until I realized the type of talent it really takes to get to the NBA for real.
I wasn't that one.
D1 is really hard.
Yeah, D1 is really hard.
100%.
I didn't make it there, so I knew I wouldn't make it to the NBA. So I had to figure another route.
And I couldn't even go through college anyway.
I dropped out of college regardless for basketball anyway.
Damn!
Yeah, I didn't like it, bro.
So let me ask you this.
Your business mindset, how did you acquire it and get into business funding itself?
Yeah, so a friend of mine started first.
A friend of mine got into learning about just business in general.
Then he learned about credit and business credit and stuff like that and got into real estate.
So he tried to tell me about it and I just kind of blew him off for a while until he actually did it himself.
So what he did was he got approved for like two or three credit cards in like a week span and got like $40,000, $50,000 in like three days.
So then that's like a light bulb in my head.
I'm like, bro, I've been trying to save $50,000 and $40,000 for the last two, three years and I still haven't been able to do it, but you was able to get approved for $40,000, $50,000 in two days?
All right, whatever that is, all right, we're going to learn that.
Yeah.
Yeah.
Because like what you'd imagine, you spend, let's say, a year or two of your business or your job saving up money to invest, right?
Yeah.
You can get it that quickly.
You can use it smartly and then make money off of it.
Yeah.
It's fast-tracks a lot of things for us, 100%.
How does one start or get into business funding?
Like, for example...
Yeah.
So the way that I do it, man, I leverage 0% interest business credit card stacking methods.
So I like to leverage our personal credit with our LLC and I'll go get no doc business credit card.
So some people ask like, well, I'm trying to get $100,000, $200,000.
Why does it get $100,000 loan or $200,000 loan?
Well, now they're going to ask you for documentation.
Yeah.
So they want tax returns.
They want, you know, a bank statement.
So they want proof of income.
So 80% of people don't got that.
So the route that I take is like we can get no doc business credit cards, and I'll be able to stack them up to be able to get access to your first $100,000 or $200,000.
And that route, I like it better because everybody more likely can get a good credit score and just an LLC, and we can be able to get you your first round of funding that way.
What are some top no-doc credit cards you recommend?
Man, Chase has the best one right now.
You hear about the Chase money glitch?
Yeah, I heard about all that crazy stuff.
No, but not that.
So Chase lending right now is pretty at a high standard right now.
So they're approving us from anywhere between $50,000 to $100,000 on one credit card.
Really?
And normal, yeah.
First time?
Yeah.
Wow.
Yeah, so that's just one credit card.
Can you explain to the audience real quick the difference between a regular credit card and a no-dot credit card or business card that you're describing?
Yeah, so I'll say this.
It's like a line of credit and a credit card.
I'll say that.
Because a credit card, meaning no documentation, I can go in a bank, I can get a credit card with a limit on it, And they're not gonna ask me for any proof of income or documentation.
I fill out my application and I get my approval based upon what I stated on my application.
I get my money right then and there.
I get $25,000, it's mine, I don't gotta show anything.
I just have to...
With a credit card.
With a credit card.
Yeah.
They're gonna pull my credit report, I'm gonna get my approval.
Now with a line of credit or if we try to get over a certain threshold...
You called it no-dot, right?
Huh?
You called it no-dot?
What was it?
No-doc.
Business credit card.
No-doc.
Okay, no documents you mean.
Yeah, that's what I mean.
No documentation that we got put up.
Okay, okay, okay, gotcha.
But like for a business line of credit, they're going to ask you for documentation.
They're going to ask you for tax returns, bank statements, or proof of income to be able to provide.
So when you say no document, you mean a credit card where you're just applying off your credit score alone.
That's what you mean when you say no document.
Okay.
No documents.
No documentation.
Okay.
They clarify.
Yeah.
All right.
What should my credit score be to even apply for this?
So most people think that it's the credit score and it's not.
So that's the first problem that we got to start changing up a little bit.
It's about your credit report and what's on it and how you built it that gets you approved for the money.
Sometimes you can have a 750 credit score and it seems like, oh, I'm good.
And the bank's going to tell you like, no, we can't give you 25,000.
It's like, why I got a 750?
It's because your profile is too thin.
It's way too thin for them to trust you for $25,000.
It's like you haven't been trusted enough for us to be able to give you $25,000.
So you need to be able to build out a thicker profile with more different accounts, a different mixture of different type of accounts so they can see you be able to prove yourself that you can pay companies back before they give you this money.
What's like an example of like one of those structures?
Yeah, so like an auto loan is a good account.
One that a lot of people don't know about is like you can get your rent reported on your credit report and you can get it backdated for a few years.
So now all those histories of all those months you've been paying your rent, you don't get no benefit from your credit report.
There are companies out here like Rent Reporters or Rental Karma that allow you to report your rent on your credit report and backdated for years of time that you've been paying it.
So you can get that added on to your credit report.
That's an amazing account to add on, you know what I mean?
That's a lot of money.
Yeah, exactly.
Damn!
Stuff like that.
So, like, self-kick-off, CreditStrong, these are credit builder accounts that people can start with, you know, and then, like, installment loans, credit cards, auto loans, mortgages, these type of things on your credit report makes it strong enough so now that they can trust you.
Would it be fair to say that a 720, where you have an auto loan, a home loan, maybe some other type of big loan, is better than having a 760 credit score with just...
I only paid off credit cards.
I don't have any...
100%.
You can have a 760 credit score and not get nothing.
I can have a 700 credit score and get 100,000.
Yeah, because you got a home loan and you got real loans under your name and you're paying them back.
Yes, sir.
Okay.
So let's say I pull up to the bank, Chase for example, how long would it take for me to get this funding from them?
With just Chase?
Yeah.
Oh, it's instant.
Really?
Yeah.
No waiting, no wait period at all?
Oh, well, you got to wait to get your, receive your card in the mail, probably five to seven business days, but it's instantly approved right then or it take like three to five days for an approval to come back and then you go with your card in the mail.
Okay.
Someone watch me now.
Checklist.
A to Z. What do they need?
Got you.
Got you.
So, properly structured LLC.
So you need to have a business phone number, business email, business address, properly structured LLC.
And then we need to have a good credit report.
So you want to have at least, you know, seven, eight, nine accounts.
You want to have probably two credit cards already open and having about like a $2,000 limit on it already.
Okay.
Between all the cards?
uh, Probably like two different cards with $2,000 limits or above.
That's what I like to go.
Okay, on both.
So $1,000 apiece, $1,500, $1,500, something like that.
Something like that, yeah.
So $2,000 limit, okay.
Yeah.
All right, and you said LLC properly structured.
Yeah, properly structured, meaning not your regular email, not your regular cell phone, not your home address, but a business address, a business phone number, a business email so that the banks can...
You want to look as good as on paper as not.
How long do you have to be incorporated, do you think, for them to not raise any?
It don't matter.
It could be brand new day one.
It could be brand new.
Brand new day one.
Okay.
Because the strategy I use is called personal guarantoring the money, meaning we're going to allow them to pull our credit on our personal side to give us the approval based upon just trying to use our LLC for the approval by itself.
Gotcha.
Okay.
Yeah.
So personal credit's the main?
Yeah, the main core thing to give us approval right now, you know, for us to get an instant approval.
Gotcha.
So they're giving you the business loan, but you're saying you're the personal guarantee.
Okay, that makes sense.
And you're doing that off your personal credit.
All right.
That's why we can be able to get a $25,000, $50,000 credit card right now today with day one on our LLC because we're going to personal guarantee it with our personal credit.
Gotcha.
So the second thing, so you said two credit cards at least with 2K limit, a properly structured business, business email address, etc.
Does it matter if they open it up as an S-Corp or as an LLC or as a sole proprietor?
None of that matters.
Just have a business, basically.
Incorporate your business, yeah.
With an EIN of some kind.
Yeah.
Okay.
All right, cool.
What's the next thing you think you need?
What's the next thing they need?
Once you've got the properly structured LLC and a good credit report, that's all you need.
700?
What do you say?
Around 700, 720.
But then you'll come to me, and then now this is where I help you.
This is where I do a done-for-you service, and I'll get your business funded for you, so you don't have to worry about knowing what to do, how to do it.
You don't have relationships with people inside the bank like I do.
You don't know what credit cards I go get.
You don't know strategically how to apply for them the correct way to get you the max.
Gotcha.
So that would be where I would come in, and I'll do it for you.
You don't got to worry about it, and I'll go get you your first $100,000 or $200,000.
What's the most I can get if I go through you versus myself?
It's some big differences.
So there's some people out here that I've seen get approved for Chase Credit Cards, and they get approved for $2,000 or $3,000, $4,000 limits.
And it's because they're applying online like the masses.
That was me.
Yo, bro, my freedom card?
I was like, this is crap.
I got a great score, but $2,000 was my max.
Yeah.
So I'll give y'all some game on how I get high limit credit cards.
So I've built relationships with bankers inside the bank, but at a high level.
So it's called business relationship managers.
These are the people who handle the underwriting and the push through of the applications for the business credit cards and the lines of credit.
So I have personal connections with these people, and I have my reps push through my applications for me or my clients so that we have a different type of algorithm of approvals than the normal, you know, type of client.
Gotcha.
It's going through a whole other trajectory, basically.
Whole different bargain.
It's not going through what everyone else normally goes through.
Yeah, so I get the request of my limits.
I don't get approved for limits.
So when you talk about them big limits, it's not that many people out here that can be able to get those $50,000, $80,000 on one credit card unless you go, you know what I mean, and have those relationships.
So that's where the value come in at.
You know, well, I can't do it myself.
Well, you're going to miss out on a lot of money you could have got access to if you try to do it yourself because you don't know.
You know, you didn't get taught the banking system on how to go about it the right way.
You're just doing what you think to know to do, like what you know to do.
So...
I played online, and yeah, I got screwed over.
2K with my max.
Yeah, yeah, exactly.
So if it came to me, we wouldn't have gotten a $2,000 limit.
Damn.
Yeah, and also what the reps do is they put a special note on our applications to why we need the money.
Oh, okay, gotcha, gotcha.
So now the banks will likely give you more money knowing why you need the money versus them not knowing why you need the money.
Gotcha.
And you're just applying.
You know what I mean?
So we'll say something like, we're about to hire a marketing team to be able to put more advertisement to our business.
We need access to this amount of money so we can put this into our business so it can grow.
Now the banks are like, oh, wow, yeah, you got the credit score, you got the LLC, you got a good plan.
Okay, let's extend him a higher limit than normal because this type of push-through.
Now, with this type of, do you recommend people go ahead and take cash arbitrage, pull money off of these cards, or should they always keep it strictly to credit, just swipe the card, don't try to pull cash off of it?
Yeah, so both.
It's a lot of things.
And 80% of the things that we got to do, you can use your credit card for it.
So some people be like, man, how do you liquidate the money off the credit card?
I could teach you how to liquidate the money off the credit cards, but you don't naturally always have to, man.
It's called liquidate.
So it's ways to liquidate the money off the credit card into cash.
And one way we can do that is I leverage a cool method, right?
We leverage ADP. You know what ADP is?
No, what is that?
Payroll system.
Yes.
Payroll system.
Oh, okay.
So I'll put you on some game of what I set up for my business and my client.
So with ADP, we can put ourself on payroll, right?
Meaning we can pay ourself from our business, all right?
What we do is, instead of the money getting taken out from our business bank account, why don't we get the money to get taken away from our business credit card?
So now, the payout from ourself, right, from our business to ourselves, so for mine's a Smitty Wealth Enterprise to Kenny Smith, right?
If I put myself on payroll for $10,000 every two weeks, I can leverage a third-party company called Zill Money, and they'll allow me to leverage my business credit card as their payout from my business to my personal self.
So now I can liquidate $10,000 every two weeks from my business credit card into my personal bank account cash, and I can go to the bank and take it out if I want.
That's a strategy we use to also create proof of income for yourself, also prepare yourself for taxes, and you can be able to liquidate your business credit card like that as well.
Gotcha.
Do you have to deal with, like, because a lot of these business credit cards sometimes have, like, fees and penalties, you know, for doing that.
Doing this intermediary process that you described, do you get the same fees?
Nope.
So, we want to stay away from, everybody on here, we want to stay away from cash advances.
Yes.
Cash advances, they're gonna smoke you on the amount.
They're gonna charge you.
That's some good stuff right there.
Matter of fact, okay, because people tend to confuse the two between cash advances and liquidating credit card.
Can you describe to the people the difference between the two?
Say that one more time.
The difference between cash advances and liquidating credit card.
Because people kind of conflate the two all the time.
Yeah, yeah, yeah.
Big difference.
Big difference.
We can go to the bank and take our $25,000 credit card and ask the bank for a cash advance.
They're going to be like, oh, we're going to charge you a 15% fee to do this.
Just to do it.
Just to do this transaction.
Hell no.
Hell no, bro.
You're going to charge $500, $700 for this and all you do is just give me cash.
Nah, we don't want to do that.
With this way, $0 charge.
Gotcha.
Using the intermediary.
So, okay.
So that's the big difference between getting a cash advance versus...
Because a lot of people confuse it with like, oh, do I just do a cash advance?
Yeah.
Versus liquidating a credit card where, you know, you described, you know, putting yourself on payroll and stuff.
How do you pay it back?
Pay what back?
The money you take out.
I mean, the only way we use credit.
So let's set this straight, too, for the audience, too.
Don't.
Only thing we use credit for is to leverage it to make money.
We do not use it.
So it's a thing called good debt.
It's a good thing called bad debt.
You need to learn how to leverage good debt.
So when we take this money off, you better have a plan to put it somewhere the way it's going to make you cash flow.
Period.
You can't be going on vacation.
Can't be going to get the jewelry.
Can't be going to get the Rolexes and dumb stuff.
That ain't going to make you no money.
So in this way, we better be using it to make us some money.
Understood.
Yeah.
Because we got to pay it back.
So, back in the day, there was this thing called SBA loans, which everyone was craving about.
How does that work, and is it similar to what you're doing, or no?
So, it's a lending option, right?
Now, this is more for people who are prepared documentation-wise.
SBA 7A loans is for business owners to use, small business owners to use, to get access to loans to purchase big purchases.
So, for example, one of the things that I'm about to start doing is buying storage facilities, right?
And one of the ways that people will be like, well, those cost a million, two million dollars.
How are you going to be able to, you know, obtain something like that?
Well, the SBA will let you leverage their loan to purchase businesses and things of that nature.
So, I can leverage a SBA 7A loan based upon how good my credit is, how long my business has been open, and my tax returns I have.
And they're going to ask for all these documentation, so you have to have them.
It's a government loan, so yeah.
You got to have all the things on point.
They're going to ask you for your P&L statements and all these things.
But what they allow you to do is, they allow you to purchase these businesses with only 10% down.
Leveraging the SBA loan.
Interesting.
10% down?
10% down.
So this is where I get fun, right?
This is where I get fun.
If I can purchase a $2 million business, like a store-specific, that's cash flowing already too, $30,000 a month, $40,000 a month, and I'm coming in with leveraging my credit, my business credit, to put the 10% down, I'm acquiring a $1.5 million business or a $2 million business with no money out of pocket.
This is called leverage.
This is how we leverage to be able to make us money.
You know what I mean?
This is the smart thing.
I'm talking about leveraging good debt to be able to make us money.
And this is what we want to set up for ourselves and do.
And this is how the big boys play.
Also, I think you noticed this.
Sorry, you mentioned this at the top of the interview.
A key to the strategy is getting no interest credit cards in the beginning, right?
You mentioned that suddenly.
Because a lot of them give you that grace period of like 18 months or whatever, right?
Can you want to describe that to the audience real quick?
Yep.
So, the business credit cards that we go after give you anywhere between 12 months to 18 months of 0% interest.
Meaning, when you borrow the money off of these credit cards, $25,000, $50,000, when you take the money off, you got to pay a minimum balance, maybe $100, but $150.
They'll literally allow you to borrow $100,000 and probably pay back $700 a month or something like that.
So we're borrowing that money at 0% interest for a year or two years sometimes.
Meaning...
Or a year and a half.
Yeah, so a year and a half.
So meaning, I don't have to pay them back more than I borrow.
Once I borrow the $100,000, if I could be able to do what I need to do within that year or year and a half, I pay them back $100,000, that's it.
That's so important.
Big important.
Because you're using someone else's money to acquire an asset so that you can make some cash flow and then you pay them back with zero interest.
That's like the...
Bro, this system?
Like that?
The way that I'll use it is like the ultimate...
And 18 months is enough time to make a play.
It is.
Should be.
12 to...
Sometimes it goes 6 all the way up to 18 months.
That should be enough time for you to acquire an asset and make some money.
So people going to Amscot and all these pay here loans places are getting repped off.
Literally.
Yeah, because, bro, they're gonna charge you interest.
Now you gotta give back $110,000 back, $120,000 back.
Now that's cutting into your profits or your cash flow.
Yeah.
Excuse me.
So, yeah, I like 0% interest, and that's why I like it, too.
That's why I teach it.
Why is it so important to go this route versus maybe, let's say, a hard money loan route?
Because a hard money loan route gonna tax you.
Oh, my God.
Them people that be doing real estate, borrowing them hard money, they get taxed.
I don't know my guy, Dave.
But yeah, my strategy, I like it because it's a 0% interest with hard money loan lenders.
They're going to give you their fees, man.
And those fees ain't small when you borrow a lot of money.
Well, I'll tell you this.
That method of getting money, bro, we don't learn in school.
And that sauce you just get earlier, bro, but getting 0%.
Dude, that's crazy, bro.
I'm gonna do that shit myself.
You better.
I'm deadass, bro.
You better.
Okay.
But he was, because I had interrupted you, sorry.
You were talking about the SBA loan.
Sorry you didn't get to finish that.
So you get the documentation, get this SBA loan, which allows you to acquire a business for 10%.
Okay.
And then you No, that's kind of the end of it.
It's just, that's how it would work if we were to use it.
If I were to go use a 7-day loan, if I'm trying to purchase something like a big purchase like that, I would leverage this SBA loan for something like that.
That's like a perfect example of what I would use a SBA loan for.
Okay, you would use it to acquire a real estate property?
Yes.
That makes money already.
So you wouldn't use it, would you use it to like buy like a, I mean, I guess you could like go buy a brick and mortar business, but- Possibly.
Yeah, but real estate is probably a safer bet, right?
Safer for the most part.
Yeah.
Oh, and then how much money do you have access to when you get this SBA loan?
So it's going to be leveraged to be able to go purchase.
It all depends on your income and credit report.
So it depends upon how much you get approved for.
Let's say you make $100K a year, just for the audience that might be wondering.
Yeah, so it's always going to be talking asset-based, too.
So it's about the business you're buying and things like that.
Because they're kind of in the hoots with you now.
The SBA work with you pretty good, pretty well, bro.
They'll be in this deal with you because they They are 90% in.
Yeah, of course.
They gotta monitor what's going on.
They're not just like, all right, here go, two million.
See you later.
Nah, it's like, all right, let's monitor this thing.
You guys need help.
We have a point of contact for you to be able to communicate things.
Oh, they got like a whole customer service to each other for that.
Yeah, because that's a lot of money, bro.
So, I've seen people get arrested for doing the SBA loans wrong.
Can you tell the audience how that happens?
Yeah, man.
I'm from Chicago, bro, so that I know about it.
So, man, people...
Not qualified to get these SBA loans.
They're putting certain things on the applications to where they're not supposed to.
And some of them used to get approved for them.
So they're just doing it in a different route.
You know what I mean?
Trying.
A lot of fraud.
Some other stuff.
So, you mentioned that the business itself counts, right?
So, let's say you are picking up a storage facility, which is an excellent investment, right?
Low maintenance, makes quite a bit of money, people typically keep the subscription going, etc.
So, would they be, I guess, a little bit more likely to let you put money into that if it's a cash flowing business?
100%.
Okay.
So, the cash flow of the business, they're going to look at the NOI and all that stuff.
They're going to be looking at that stuff too, yeah.
Yeah, so that's gonna make it make it make sense for them to you just not do anything.
Okay, so I guess that's good to know that like if you have a good idea they'll fund it but at the same time if you come with some bullshit like oh I want to buy this um I don't know this this failing business here this restaurant that's negative.
They're gonna consult with you.
It depends you know I mean so they have that conversation with the person and then y'all negotiate you know I mean they're gonna see all your documentation and see if you can afford these type of things you're trying to get into and things of that nature so Okay, but that's probably one of the better loans you would say, if you got your documentation right.
Yes.
Because they give you such high, you can get such crazy leverage ratios.
Yes, 100%.
That's like the best route I would take to do.
If you want to make some money, bro, that's like one of the best routes I'll take, you know, because you got to think about it, bro.
I'm no money in out of my pocket.
Yeah, 10% is crazy.
That is an amazing model, and especially attaching the model that I have on top of what they're going to give us.
I literally can come in here with zero dollars in my pocket and acquire a 1.5 million dollar asset.
That's amazing.
That's life-changing.
Because you can get 100 from the credit cards, that'll be your 10% down payment, and then the SBA gives you the rest and you have no money in the deal.
Damn!
And you can go ahead and wait 18 months and just Well, what's the repayment period like for the SBA loan?
18 months as well?
No, no, no, no.
They don't give you 0% interest.
But it's a small interest.
It's not big.
They're typically very good.
I have an SBA loan.
They're good.
I got like, it was like 3%.
It was low.
So crazy.
It'd be low.
I could buy a property, like a complex with that.
Yeah.
Easy.
You could.
You could leverage it.
And for real estate, I'm assuming they'd want you to buy real estate if they were going to use that loan.
That's the most safest.
It's safe.
Yeah.
Very safe.
I'll meet you after this, bro.
Deadass.
So Bam and Kevin talked about shelf corporations, right?
He came in here, gives a podcast as well about some game.
How does that work with shelf corporations?
Yeah, so right now we got connection to wholesales of shelf corporations.
So basically what a shelf corporation is, think of it as just an aged business, an aged LLC. So we were talking about a new business earlier, how we could get a new business funded, right?
But the banks reward you and give you higher limit approvals with credit cards, lines of credits, and loans if your business has been established for a longer period of time.
So there are businesses out here that people don't use anymore or maybe got dissolved because they couldn't keep up with the yearly annual.
So there's so many different ways of why they can be able to want to give it away or not use it anymore, but we can purchase them.
So let's just say you had an LLC for 10 years.
You haven't paid or you want to sell it or something like that.
You're like, I don't care about this LLC. Give me a thousand bucks.
You can have my 10-year-old LLC. Now, I don't know why nobody would do that.
But there's some people out here that just be getting them dissolved.
I could purchase that business from you and transfer it to my name.
Now I have a 10-year-old corporation business.
I got an LLC now with 10 years on it.
With history, yeah.
With history.
So now I'm going to the bank as a 10-year business versus a one-day-old business.
And then now I attach my personal credit that's at $750 with a 10-year-old LLC. And now I'm eligible for access to more capital than I was when I had a business that had been open for a year.
So there are some banks that allow you to get lines of credit now.
So now I go in a bank and I'm getting a business credit card for $25,000 and I'm getting a line of credit for $50,000.
Now I'm walking out the bank with $70,000.
Can you explain to the audience the difference between having a line of credit versus having a credit card?
Yeah, 100%.
So a credit card is where the money is on a card and you swipe it, you can use it as purchases to be able to spend the money.
A line of credit, let's just say we got approved for $50,000, I can go in the bank and I can access cash.
Meaning, if I got a $50,000 line of credit, I can go into the bank and I can ask for $50,000 cash.
But they're going to charge me interest.
They're going to be like, alright, we're going to let you borrow this money, cash, all you want.
But you got to pay us back extra of what you borrowed.
And there ain't no 0% interest with lines of credit.
You got to pay interest on this money.
Yeah.
So it's basically, think of it, guys, as a bank account that isn't really yours, but you can pull from it at any time, but you have to pay back it.
Are the interest rates fair depending on the bank?
What are we looking at?
Or is it based on the market?
The market a little bit, but more so your credit report and your credentials.
Okay.
So the better your credit score, the lower the interest rate.
The lower the interest rate.
Yep.
Okay, what would you say it ranges this week?
It'd be like 7 to 12, I'll say.
Now, let's say you got a $50,000 line of credit, right?
And you borrow 10K, right?
You take 10K out, make a purchase, whatever.
How long do you have to repay that before interest starts to accrue?
Is it 30 days like a credit card or is it immediately?
Yeah, so like 30 days, minimum payment back that they're going to acquire.
You know what I mean?
So you don't got to pay it.
So like a charge card, you got to pay the whole balance about it.
You don't got to do it like that.
It's small increments over time that you got to pay it back.
Okay, gotcha.
But the interest doesn't hit until after the first month, I guess?
Yeah.
Okay, so you could, in theory, use your line of credit almost like a credit card where you're paying it in full and not paying interest.
Kind of.
Yeah, kind of.
Almost, yeah.
I don't know if it's going to be hard to borrow 50K and put it back in 29 days or do something.
Yeah, yeah, yeah.
Of course, of course.
But technically, yeah.
But you could do that if you wanted to.
You'd pull out the line of credit, get the cash out, use it, and then come back and pay it back within 30 days without getting interest.
Yeah, yeah, yeah.
Okay.
By the way, So I'm going to give you some more sauce.
We've got a hype train going on on Twitch right now.
Let's go!
You guys got the value here, man.
Twitch.
So basically it's like a...
How do you describe it more?
Like a sub-type event?
Yes.
It's like a sub-event.
A bunch of people are subbing and sending bits at the same time.
Because we also just announced that you're able to subscribe for free on Twitch using your Amazon Prime account.
And yesterday, myself and mine gave away 100 subs.
Yeah, I gave some before you came in too.
So we gave over 100 subs, guys.
We gave away like 200 yesterday.
Which, by the way, we should probably, honestly, we should probably go to Twitch here in a bit.
Yeah, we can.
Yeah.
But before we do that real quick.
Yeah, yeah, yeah, but keep going.
I want to know, bro, so with the money that people are getting, your students, what can they do business-wise to make that money back?
Like, for example, e-commerce, or what can they do from your students?
Everybody got their own desires and ideas, man.
It's hard to tell people what they should do because everybody different.
Everybody got different goals.
Everybody got different desires.
But what's been a safe investment we all know is real estate.
That's one of the top things that I've seen people have the most success with.
But the main thing people want to do is get you a coach, get you a mentor in the field of business.
No matter what business it's going to be.
Get you a coach, get you a mentor in the field of business that you want to get in before you get in it.
So you come to me to get the money.
Now you need to go get you a coach or a mentor in the field of business you want to get in first and then go invest into that business.
But real estate, I know a lot of people are doing a lot of car rental stuff right now.
They like in that business model.
Some people went in and that.
But me personally, so like people will ask like, well, what do you invest in?
See me, I invest to my personal brand.
I invest into advertisement.
I invest into myself and information.
I pay for mentorship.
I pay for coaching.
I go to, I pay for events.
I pay for marketing.
I pay for advertisement.
So I put my money back into my business, into my personal brand, and I want to grow that.
You know what I mean?
And so I wouldn't tell everybody else, like, oh, go invest in your personal brand advertisement.
You don't even have offers and things that I have set up.
I would rather you, you know, whatever you desire.
You know, everybody should have something they may want to get into or might want to get into.
Take that idea on now.
Since you're going to have access to the money, go get you a coach or a mentor to teach you the blueprint.
Follow that blueprint with the access to the capital you get with money that you can leverage.
That's a good point.
I like real estate because it's safe and everyone knows about real estate.
So that's more of a safe bet to put your money into right away.
100%.
That's fair.
We got some chats here?
Yeah, we could read some chats.
And the point about getting a mentor, it's funny, people get into business and they're like, oh, I'm going to wing it.
Nah, bro.
You're going to waste money at the same time?
Just get a mentor.
Yeah, 100%.
Why would you try to think about your own thoughts that only took you as far as what you went already?
If you knew what to do, you'd already be doing it.
Facts.
Good point.
Yeah, but these are really great ways for guys to get funding and really get things going if they need some capital.
Because, I mean, sometimes just getting the money to start is the hardest part.
And sometimes just getting that boost in the beginning can really get you going.
Because you might have an idea, but you don't want to get the capital when the idea happens.
Actually, my buddy took a loan out for his car company.
So that's funny.
I wonder how he did it.
I don't know how he did it, though.
You can leverage auto loans, too.
You can go get a fleet of cars with no money out of pocket and start your car rental business in a week.
That's some sauce right there, bro.
We got here.
Bread01 says, Fresh, we get it.
You don't like it when Myron goes on his them boys rant, but we, the fucking people in chat, love that shit.
Let us learn, man.
Stop being a party pooper.
We get it.
We're never going to win, but goddamn, at least let us keep on learning.
Myron, a whole episode talking about everything they have done.
Yeah, I'll do that.
It's going to have to be on Cals Club or Rumble only, though.
But, you know, honestly, I can't even do it on Rumble.
It's going to have to be Cals Club only.
I promise I'll give you guys that.
We'll go through everything, from central banking to everything else, but that's going to have to be on Cals Club.
There's no way.
Even on Rumble, it's not safe.
I love some gifts for your kids, Myron and Fresh.
Did you guys receive them?
Yes, Dominicano, I appreciate that.
Actually, Frank was playing with one of them earlier, man.
Thank you so much for that.
For our gifts?
Because he's teething right now.
Oh, you mean dogs?
Yeah.
Yeah.
Just got hit again with the copyright strikes by Rumble.
It's only on the After Hours content.
That's from Hidden Dragon.
Not sure what is happening.
Spoke to Mo this time, but no updates.
I saw the link.
Do you know who he is?
That's probably Spartan something.
Hidden Dragon key.
Hit him again.
Hit him again.
And then Noble's here too.
Yeah.
Noble's here?
Yeah.
I saw him.
Yeah.
What's your X, Noble again?
It's not Noble or something like that?
Great King Noble.
Great King Noble.
Great King Noble on X. Hit him up as well.
WFNF, that's from Fresh Updates.
What else do we got?
MM goes, as I need more work trucks.
And guys, if you guys don't mind me doing me a favor, as y'all know, we're in a transition period right now.
We're trying to, we're going to stop streaming on YouTube.
We're going to be focusing mostly on Twitch.
So come on over, guys.
Open up a tab, twitch.tv slash Fresh Updates Podcast.
It's there.
Open up a tab because we're probably going to move the stream on over to Twitch.
And we're going to probably do that for maybe this week or whatever.
We got to, you know, we were put on timeout for like a day or two.
So that kind of derail thing.
But we're back, so go ahead and come over to Twitch, guys.
Open up another tab.
And also, if you're on Castle Club watching or on Rumble, also open up a tab, twitch.tv slash freshandfitpodcast, all right?
As I need more work trucks and equipment for my construction company, should I save up and pay cash so I don't have to worry about payments, or should I finance them and bet on myself that I will bring the capital every month?
I'll let our guests answer that.
Yeah, so me personally, I'm a hard worker, bro.
I'm a go-getter.
So me personally, I'll go get the money myself and go fund my own trucks and make all the money myself versus trying to have them dip into my money.
Because we work hard for our money, bro.
We're not going to keep letting somebody else dip into our pockets.
That's the purpose of learning.
That's the purpose of learning the information I'm telling you now.
So you can be able to do these things yourself and you'll have way more capital to yourself when it comes to your business.
Okay.
What else we got?
Mr.
Drippy, give the subs.
Shout out to you Mr.
Drippy, he's gifting one tier subs to Fresh Fits Podcast Community.
Rules as follows goes, love the advice, two questions, would you recommend using business funding for day trading, stocks and crypto?
Also FNF think we could get a guest that does day trading for a living?
We did, we did QBanks and also, we did as well.
He does, Lamboreau.
Do they day trade too?
Well, Q, not so much, but Lamboreau does.
But we did both of them at the same time.
We did an episode with them, bro.
Rules as follows.
We can bring them back.
Yeah, go check that out.
But yeah, so they're asking, recommend using business funding for day trading stocks and So some of my members in my groups and stuff like that, they do.
They like, I'm here to learn this game so I can get some money if I can go trade with it.
They like, man, if I would have had access to more capital, I could be making way more money.
They like, I learned the game, I didn't learn the setups, my stuff is hidden, but I just don't got access to enough capital to make a lot of money because I think they'd be conservatively trading.
Of course, of course.
So they like, man, if I have more capital, I can risk a little more so I can make some more money.
I come to you, Smitty, to get the money so I can go and invest it.
So this is what I was told about trading.
The more money you put, the more money you could win off that lump sum.
However, if you lose, then it's like, it can hurt a lot.
It's literally a high risk, high reward.
Because I know Q, he puts like 100k plus on his trades.
And I'm like, damn, he makes like a million, two million off of his trades.
I'm like, damn, bro.
But he spent a lot of money up front.
And he'll lose too.
So it's give and take.
Okay.
Anything else?
Two more?
Okay.
All right.
Guys, get your questions for Smitty.
Go ahead.
Yeah, just to introduce, too, the model that I'm transitioning to now.
So first, I was teaching people about how to clean the credit, how to build the credit, and then get access to your first $25,000.
But now...
People are asking me, like, how do I start the lending business, the funding company that I run myself?
How do someone else get to start that?
So now my main focus is now corely teaching people how to start their own lending and funding business because not a lot of people that look like me that own these things or run these type of companies.
So now I want to open up the floodgates for everybody to learn exactly how to start, scale, and grow their own funding business.
So now I want to teach them the model of how to set it up, a system to use.
Get access to the banking reps.
And then use the same strategies I use to get people funded to start their own business to make anywhere between $5,000 to $25,000 per client.
So that's something new I'm doing.
Especially, I got a five-day virtual mastermind coming up.
And basically, what I'm going to teach people is the whole blueprint, man.
How to start it.
How to grow it.
How to get the high limit credit cards.
How to be able to invoice your clients.
How to get the contracts.
How to be able to do all these things and market your business so you can run your own funding company and do the same thing that I do.
To me, it sounds like it could be a completely online business.
No overhead.
Completely online business, no overhead.
One of the best business models I've ever seen.
So people can do this theoretically while having a real job.
A hundred percent.
A regular job.
One of my students right now, American Income, just interviewed one of my students.
He made about a half a million dollars in the last five months.
He got a 9 to 5.
Wow.
He said he's about to transition to quit now, but he's just like, bro, I did this all while working a 9 to 5.
And I'm like, wow, bro, you made a half a million dollars working a 9 to 5.
That's amazing.
That's great.
Because it's remote like that.
Yeah, you can literally do it in between on your break or whatever it may be.
So this is like a great thing to do as a side hustle almost.
Yeah, but I'm doing four times.
Yeah, yeah, yeah.
Of course, of course.
If someone has a regular job.
Yeah, yeah.
Hype Train Level 2.
Let's go!
Choo-choo, motherfucker!
Let's go!
Chris, you are so corny, man.
I know, bro.
I love it, though.
I love it, though.
It hurts.
What's the next level up after the train?
Huh?
What's the next level up after the train?
Level two.
Level two?
We're at right now.
We gotta get to level two, man.
We gotta get to level two.
No, we're there right now.
Level three.
Should we just move over to Twitch now?
If you want.
Yeah, we might as well.
Yeah, guys, so we're going to stay live on Rumble, though, guys, so don't get it twisted.
We're still going to be live on Rumble.
We've got most of y'all over there on Rumble, like 3,000 plus y'all, and then we've got another 1,000 on YouTube, then a couple hundred on Twitch.
So, guys, we're going to come on over, switch over to Twitch.
We're going to end the YouTube stream here.
Come on over, guys, right now.
Twitch.tv slash FreshFit.
Let's drop the link in there, and then we'll end the YouTube stream.
Yeah, just the YouTube one.
Yeah, yeah.
We'll stay live on Twitch and Rumble, of course.
Rumble's home base.
So yeah, guys, let's get to level three.
Go on, Fresh.
So, I guess, you asked a question earlier about getting business funding for certain businesses.
What about e-commerce?
Is that a good business, you would say, for funding, to buy products?
Yeah, yeah.
Online?
I'm gonna be honest, bro.
It's really any business model.
That part kind of don't matter.
The struggle is the access to the capital.
So just nipping that part in the bud helps so many people with any kind of business that you have.
But yes, I've seen some of my students leverage it for e-commerce.
But just for everybody, it's literally any business, bro.
Every business needs money.
Every business needs money to start up.
Every business needs money to grow and scale and get to the next level.
Every business needs money for marketing.
Why would you leverage your own money when you can leverage somebody else's money and make money off somebody else's money?
And we make money when we spend money.
When you spend cash, you don't make nothing in return of every dollar you spend.
When I spend money, I get something in return of every single dollar I spend in my life.
That's how I travel for free.
Sometimes I pay my card note off my rewards points.
That's how I get free hotels.
I get so much stuff off my rewards points that it's crazy just because I use credit instead of cash.
Yeah, same here.
I've always told people using cash is probably one of the stupidest things that you can do in today's day and age with all the credit perks that you get with these credit cards, right?
And then like, you know, the 18-month APR, you know, 0% APR, you know, the rewards, you can literally like make a bunch.
You can make money doing that.
Yeah, you can't.
Especially when you're like using these cards the way that you because do you when you liquidate the well some cards let you get points off and then some don't when you liquidate the cards when you use them Yes, but technically yes when it my strategy you do you get the rewards.
Oh really?
Oh because use that intermediary company which uses It charges the card is a charge.
It's like a charge So then the points get benefit.
So you're literally paying yourself twice.
Because you're paying yourself off the credit card and then you're also getting the rewards that come from said credit card.
That's really good, bro.
Seriously.
He's a master with the dough, bro.
And then the way I do it too, so certain cards got different perks.
So my American Business Express Platinum card is unlimited.
But what the perk they have on there is like 4 to 5x every dollar you spend on advertisement that they give you.
Oh, yeah.
Bro, when I spend $50,000, $100,000 on advertising every month, they give me 4x, 5x, I'm getting $400,000, $500,000 reward points every month.
Damn, automatically.
Every million, I'm getting $10,000.
Bro, that's so vital.
You know what I mean?
And $400,000 points, I'm trying to figure out in dollars what that is.
That's $4,000.
Yeah.
Free money.
For money that you were going to spend anyway.
Anyway.
Yeah.
Imagine me doing that for three years and imagine somebody not even knowing it.
Yeah.
Big difference.
Yeah.
That's a lot of money that you're getting just off of.
And that's a tax write-off.
It's a benefit to your business.
You're growing, etc.
And you're getting free money in the process.
Versus if you had just used cash or a debit card like an idiot.
It's finished.
Yeah, you would get no benefit.
So you've been doing this business for a while now.
When do you know it was going to blow up or when did it blow up for you?
I think it started blowing up when the social media started getting some of the clips of some of the things I was saying and it was going viral.
You know, and then also word of mouth.
You know what I mean?
A lot of my students, I've seen them in the chats on YouTube a lot, but a lot of my students are word of mouth.
They really push for me, bro.
They like...
Yo, everybody got to get in.
My whole family got to get in with me.
My friends got to get in with me.
My friend, my uncle, everybody.
If they see somebody, they're conversating, they're mentioning me to get into my thing.
So just going viral on social media, word of mouth with the people that already got results from me has been in my growth spurt pretty fast.
Because again, we don't learn this in school.
So I think for most people, this is like a revelation because now with this information, I can get a business like that.
100%, bro.
So that's really good.
I know I didn't learn nothing of this stuff in school.
At all.
So what would you say, like, for your average student in the beginning, right, working with you or whatever, how much are they getting off of their, you know, their first, I guess, funding run?
Yeah, so, wait, so two different things.
When they start their own funding business or they're getting funded for themselves?
Funding for themselves with their business, whatever it may be, and then you could go ahead and save for the funding business.
So, if they meet the requirements on a personal credit score in the LLC. 2K in credit, 700 credit score, LLC properly structured, and I think the fourth thing you said is have at least a car or a home loan.
No, you don't have to have those.
I would rather you have seven to eight, nine accounts on there.
Okay.
So it could be a little drawn out, built out.
Okay.
But it could be anything, right?
Yeah, for the most part.
Okay.
But the better the account, the stronger the report going to be, of course.
So, anywhere between $100,000 to $250,000 is what someone's going to get when they meet those requirements.
Out the gate, no documentation.
You come to us, that's around the average everyone's going to get.
Now, if you've got a better credit score, you've got documentation or something, or you've got a longer, older business, now we're looking $250,000 to $400,000.
Wow.
And this is between how many credit cards?
I'm assuming they're gonna have to need a few, right?
Yeah, yeah.
Like three to five maybe?
More.
I think I got 29 credit cards right now.
You know what I mean?
I'm in this deep, so I'm not gonna say everybody else is not gonna do that.
But for the beginner person, you're gonna probably get them that first 100k with three?
About six.
Six cards.
About six different credit cards.
About six.
You'll probably get $100,000 with six.
Okay.
And I think it's important for the audience to know because some people get scared.
They're like, well, hold on.
Doesn't it hurt my credit when I get so many credit cards at once?
Can you kind of explain to them how credit reporting works and everything?
So cool thing about the way we use it and we leverage it is we're getting business credit cards.
So you have a personal credit report and you got a business credit report.
The way we get them is business credit cards, but I told you, we personal guarantorum.
So they're going to pull our personal credit for the approval.
But all of the cards that we're going to get are going to report to our business side.
So now, I don't have to worry about the utilization when I'm investing the money on the business side.
Because on the personal side, if you use money off your credit card, the utilization hits you, you tank your credit score, it goes all the way down.
The way we use it is we leverage the business credit cards because when we use our money on the business side, our personal credit still stays good and we can continue to go get access to capital for our business.
So they report on the business side so we don't have to worry too much about utilization.
And what about the, like, if you're getting, because you're getting like, you know, a couple of cards in quick succession within, I'm assuming within 48 hours of each other or something like that, right?
72 hours.
Will that all count as one credit inquiry?
No.
Uh-uh.
So, but I'll give you a breakdown of how you got to do it strategically in order to do it the way that I do it.
Okay.
So it's three credit bureaus, Experion, TransUnion, and Equifax, right?
We have to go to certain banks that pull different bureaus so that we strategically can go get the money.
So for example, I'll go to one bank that pulls TransUnion, I'll go to another bank that pulls then Experion, and I'll go to another bank that pulls Equifax.
Equifax, yeah.
So now I got three different credit card approvals for $20,000 each, but to the banks, it only looked like I got one pull because each bank have a certain credit bureau that they pull from.
Interesting.
You get what I'm saying?
I thought if you did like all your, well this is for business credit so this is different, but I figured like if you, because on the personal side if you apply for credit cards like a couple of them at the same time in a short succession people assume you're you know shopping for rates or whatever and it counts as one credit inquiry, but for business I guess is different.
It does, each one does show up.
Each one does shows up on the inquiry, but this is this is how you would do it even on personal side.
Okay.
You don't want to start, you shouldn't start off trying to get funding with a lot of inquiries.
Like, the way that I teach people how to build their credit reports out, we have zero inquiries.
All the accounts that we get reported to your credit report, we don't want to get inquiries.
Some people do that wrong and they go get all these stuff and they got a whole bunch of inquiries, now you can't go get funded because you got too much hungry and it's on your credit report.
I think people didn't see what you just said earlier about different banks.
He's saying go to different banks with different credit companies that they report to so you don't get recognized by it.
Dude, that's some results right there, bro.
Bro, definitely.
That's why I love this stuff, but I'll go a little bit deeper on that.
If I went to got three different credit cards, that's to say I get $20,000 each in each credit bureau, now I can go do what?
I want y'all to answer.
I don't do what?
Now what I'll go do?
So we got three different, yeah.
I mean, you could hypothetically kind of start it back up again.
Yeah, do it all over again.
I'm going to do it again.
I'm going to go to another bank that poor Experian, another bank that poor TransUnion, another bank that poor Equifax.
But now I got six credit cards, let's just say.
And let's just say they all gave us $20,000.
So we got $60,000 the first time, another $60,000.
And now we got $120,000.
But on the credit report, we only got two inquiries in each bureau.
So each bank, it only looks like we only got two inquiry pools.
We don't look like we that thirsty for money yet still.
Yeah.
But we didn't went and got six different credit cards and we got 120,000.
Yeah, yeah, yeah.
And what could we go do now?
You could do it again if you want to hypothetically.
Theoretically, yeah, yeah.
Yeah, so...
And then yeah, and then you can also do the lines of credit like you were describing before.
So interesting.
Clever, bro.
Yeah, yeah.
No, for sure.
And I guess you just have to know which banks work with which credit bureaus to know where to...
How long would you say this process lasts?
Like, is this like a 48, 72-hour thing?
Is this like a week-long thing to do this?
Yeah, so like seven days, seven to ten days.
Okay, and you should be able to get all your money in that time.
Yeah, about seven to ten days.
But you know what's crazy?
A lot of billionaires and millionaires use a strategy to get funding.
They do, bro.
And they don't tell anybody because, like, it's like, if you know, you know a thing.
But you're supposed to know people firsthand.
I like that, man.
Yeah.
So we covered a lot today.
What's up with you for updates?
What's your next event?
What's your next, like, I guess, meetup or coaching?
Yeah.
So my next big event, right, is I'm hosting a big five-day virtual mastermind.
So I want to take everybody.
This is for everybody.
I want to take everybody.
And we're going to put the link in the description, right?
I want to take y'all for five days.
Monday, Tuesday, Wednesday, Thursday, and Friday.
And I want to teach y'all these things step by step.
Because coming over here for an hour is good.
Get you the idea.
You can be like, dang, that sounds good.
That sounds amazing.
But you've got to come in here and really learn step by step how to do these things.
How to set it up step by step?
Which banks do we need to go to?
What do we need to put on our applications?
How do we get access to the lenders and stuff like that?
So I set up a five-day virtual mastermind that I'm going to teach people over for five days how to start, scale, and grow.
They sell to get $250,000 and or start the business so they can actually make money.
So it don't got nothing to do with your credit.
Now you're going to start a business to be able to make your first $10,000, $20,000.
And I want to be able to invite people to be able to teach them all this stuff with that virtual mastermind.
Cool.
That's fire.
It's completely free so the guys can learn.
That's fire.
No, hold on.
That's not free.
Oh, my bad.
My bad.
My bad.
I thought you were saying that.
Okay.
Yeah, so before my 30th, my 31st birthday is coming up, so I'm going to allow people to get in for like little as 31 bucks.
Okay.
Pretty much free.
Goddamn.
31 bucks.
That's nothing, bro.
Yeah, that's nothing.
Pretty much free.
Goddamn.
Cool.
Is there any other chats that we read?
That's a few here.
Then we'll close this thing out.
No, this was really informative, bro.
Holy.
But you know what it was?
I saw him on so many platforms.
I was like, bro, this guy's legit.
You've been everywhere, bro.
And more.
They be wanting to hear, man.
A lot of people want to hear the layout.
So we've been getting busy, man.
No, it's important stuff, man.
And then the beauty is that you can do this and still have a regular job.
You can literally do it.
This is an internet-based business.
Wait, no overhead.
Jake the Mullet, cheered 100 bits.
Thank you so much.
Phoenix goes, re-subscribe with Prime.
Shout out to you.
You've been subscribed for 18 months.
And then Jake the Mullet, 100 bits.
Thanks, bro.
Appreciate that, man.
Anything else?
Oh, Mr.
Drippy, one community sub, Boosted Coyote, subscribe with Prime, Senpecobra, Invaders, and Andre Zias.
All of you guys subscribe with Prime.
Shout out to y'all.
Do you recommend moving personal credit card debt to business credit cards to lower personal utilization?
Good question, my god, Wallace.
100%.
I always teach people this is a strategy, how to leverage, to get your utilization down.
Yeah, to get your score up, too.
Yep, to get your score up.
So a lot of people have credit card debt.
Best thing to do is build your business credit, get an approval in your business name, strictly in your business name, nothing to do with your personal.
Liquidate the money off your business credit card to pay down your personal credit card utilization.
Wait till your credit score go up, then go get business funding and transfer the debt from the personal side to the business side.
Oh, okay.
Wow.
Yeah.
Question.
Let's say someone has a pretty bad credit score.
Could it come to you to help repair as well?
Yeah.
So a lot of people got bad credit scores, man.
So I got to help y'all.
This is going to help y'all.
Technology is crazy in today's time.
So we have a Metro 2 AI software that does it for you.
So basically what it does is it imports your credit report.
It pulls up all your negative things that's negatively hurting you right now, right?
And it imports it into the AI software.
The AI software detects your negative items and then customizably drafts you up a dispute letter to send to Experion, TransUnion, Equifax.
So they can start disputing all the negative things off your credit report if you got bad credit.
So this is what the software I teach my people how to use.
I teach them how to use this AI software to be able to generate these letters for them.
And they can do it themselves.
And they can do it themselves.
They don't got to pay nobody a thousand dollars or five hundred dollars.
I teach you how to do it without them.
Yeah.
Boom.
Alright.
That's good stuff, man.
What else?
Okay, Mario, not sure if you remember me from CC's Zoom call.
I want to start my own exotic car rental business, but I have too much debt under my name.
Had 200K of debt under my name, dropped it down to 100K. Would you say funding with Smitty will help get my car rental business started or wait and still work on getting rid of my debt?
What do you think, Smitty, with that?
He wants to do an exotic car rental business, but he had 200K of debt under his name, dropped it down to 100K. Yeah, so...
um you you would probably want to leverage your business name to get some other debt so you're going to take on a lot of debt when you got cars that's just that's just what he wants to do exotic cars yeah so your your debt gonna rise regardless of what you do that ain't going nowhere you're getting 200 000 pieces of debt every car you get you know what i mean so but what i would do is i would do this i'll give you a play that you can run right now bro if you got at least 700 credit score you need to go to bank of america Bank of America allows you to personally guarantee auto loans,
but they allow you to get three or four auto loans in your business name with zero dollars down.
Wow!
If you have a 700 credit score and a properly structured LLC. That's why it's so important to have this credit score.
You can leverage this thing for anything.
We can go to Bank of America.
They allow you to get three or four auto loans in your business name, no money down, and acquire multiple auto loans in that same sequence for only one hard inquiry pool.
So that's a strategy I would use to be able to go get four auto loans.
I didn't even know that.
Bank of America?
Bank of America.
See, I don't use them, so I even know.
Yeah.
That's crazy.
So boom, right off that alone, that one tip you just gave, people can literally start an auto business if they wanted to.
That's how I started mine before I exit out of it.
But that's how I started mine.
I got four auto loans, no money down.
I then started making money.
The rental game is tough.
Yeah.
Especially Miami.
Y'all in Miami, so.
Yeah, yeah.
Were you doing this up in Illinois?
I was doing it up in Illinois.
Okay.
It was so tough.
Yeah, yeah, yeah.
You know.
It takes a lot.
I took some L's.
I took some L's.
Yeah, yeah, yeah.
No, I mean, because I remember Turo was going crazy during the pandemic, but now it's like auto rental.
It's tough, bro.
It's a very competitive business.
Even here in Miami, it's tough, bro.
Yeah.
I got friends that closed their businesses down two months ago.
Yeah, man.
I took some L's.
I took an L in trucking.
I took an L in Airbnb.
I took some L's in the car rental business space.
Man, I took some big L's, bro.
I'll tell you this, though.
All your L's, bro.
Sum up to what?
You know what?
Maybe people can learn from this because some people have thought about getting into the auto rental.
What were some of the mistakes you would say you made from the auto rental business?
Yeah, so I went straight to exotic and then I didn't understand the insurance game part of it.
So a lot of people who are...
Well-vetted into the car window industry.
They know how to leverage the right insurance setups the perfect way in order to protect themselves.
Not me.
I made some money the first month.
It was good.
$8,000.
$9,000.
Cool.
My car not only $1,800.
$2,000.
Okay, cool.
The one after that, crashed.
Oh man.
Gotta get it fixed and stuff like that.
And that's still downtime.
You could be making money the whole time.
So I had the Corvette C8, brand new.
And now I'm waiting on the parts.
But the insurance still got to get paid.
Cardinals still got to get paid and all this stuff.
I'm like, hey, man, I'm losing money every day.
So it took two, three months.
As soon as I get the car back, it crashed again.
I'm like, oh, no.
This is crazy.
Yeah, because you got fast cars and they drive reckless, right?
Yes, they drive reckless.
They don't care about those stuff.
So, um...
You know what's funny?
The best car I've seen perform is the Rolls-Royce Cullinan.
Because it's going to pull up, look cool, and then just give it back to you.
That's kind of true.
They're not...
There's some people there.
There's some people there, but not really.
You really ride smooth in the Rolls-Royce.
The Lamb truck and the Lambos and all, they trying to zoom through out of the crazy.
I also went and got like four auto long...
I used a play.
This is a cool play for everybody, too.
I love giving game, man.
It's a Linder called Lightstream.
Lightstream will allow you to get an approval as an auto loan, but what they do is they wire you to money cash.
Wait, really?
Bro.
This was the...
When I learned this...
So you can go procure the car...
I'mma tell you.
I'mma tell you.
So they gave, they sent me a wire.
So I got proof like $80,000, not like $500,000, but like up to $100,000.
I got proof of $80,000.
So I thought I was going to have to like get a proof of $80,000 and go get the auto loan.
Like they pay them.
They said, all right, your money will be in your bank account in two days.
I'm like, oh shoot, what do you mean?
They want to see your wire for $80,000 in two days.
Two days come, a wire come in my bank account.
Oh my god, this is crazy because now, instead of me going to get one auto loan for $80,000, I went to go buy like six cash cars for $10,000 each.
And I went the economy route.
So I had like, you know, like some vans for Uber drivers.
I was just about to rent my vans out to Uber drivers.
I was getting some little Honda Sonata.
Did you say fuck the exotics once people started crashing?
Yeah, I tried to go this route, which was a little better, a little smarter.
But then I moved to Atlanta.
I let my family take over the business and then...
Yeah, it didn't go that good.
Do you think if you had kept running it and you would have done the more economic vehicles, it would have been good?
I would have did better during the economic vehicles because they're paid off.
They're no risks.
And then now once they're paid off in full, I'm no money in.
All the rest is profit.
It don't matter what happened to the cars.
Also, insurance is way cheaper for a paid-off car.
And then you get more consistency.
With exotic cars, yeah.
Everybody can't afford that $1,500 a day, $200 a day.
I've been in Miami for 10 years now.
I've seen companies come and go, and it's because they crash.
Once they crash, downtime, you're paying the car, you're paying for insurance, it kills you.
So you would say the things you learned were try to stay away from the exotic cars unless you got some kind of insurance plug?
It's a couple of variables.
And the economic car route might be the more sustainable way to go.
If you're going to start small, build your way up.
Exotic is what you build up to versus going right off rip.
If that's your foundation, economic cars, then it doesn't work.
For example, if it's going to be those type of cars that are lower tier, if they crash that you're saying, it doesn't really matter.
And if you pay them off, even better.
But you do exotic cars, right away, bro, you do one crash, you're fucked.
You're fucked, bro.
One crash.
That's all it takes.
It's crazy, yeah.
Yeah.
Yeah.
Okay.
That's smart, actually.
Yeah.
Really smart.
Let's get...
What else do we got?
We got any more?
Yep. Marnar, and then Kenneth, where can I find your services?
Link's down below as well, if you want to find them.
But yeah, all my social medias, man.
SmittyTheGoat on YouTube, SmittyTheGoat on Instagram, SmittyTheGoat on TikTok.
And most of the time, I just tell people to DM me the word.
Well, right now, you can DM me the word on my Instagram, B-Day, and I'll send you a free masterclass.
Bill, pull up his Instagram real quick.
There's any links down below.
Just give him a shout-out.
And then, any more?
Rumble gave me a copyright strike with a whole bunch of claims.
How can I solve this?
And this is him saying...
With overdose?
With overdose.
He's saying those are the strikes.
Okay.
Send Mo your channel.
We got you, bro.
What's the best personal credit card?
This is Mr.
Drippy.
Yeah.
Any opinion?
Navy Federal Credit Union and PSECU. Can anyone get a Navy Credit Union?
We got strategies to get you in, but usually they typically say, you got to be in the army and all that stuff, but man, we get in all the time.
Okay.
We got people in our group that have codes to invite people in.
Yeah.
Gotcha.
Yeah.
If you got a member as a family member, like that's military stuff.
Everybody's cousins in my group.
Yeah, yeah, yeah.
We found it over here.
There's ways to get it.
Hey, KnowHow, and also, if I'm not mistaken, are they still, do they still offer, like, if you over, there's no ATM fee?
No, I don't believe so.
I think they do.
I think Navy still has that.
They possibly do.
I haven't checked.
I ain't seen it in a while.
I don't know.
I don't use personal credit.
Hey, no, how do you sub to Twitch Amazon with W Freshman Double Class Club LK Harris?
There should be a button under the screen.
Huh?
Gotta do it on the desktop.
On desktop, yeah.
You have the desktop version.
Subscribe and then percentage off.
Oh, they can't do it on their phone?
No.
You can't link your Prime to it.
You gotta do it on the desktop.
On desktop only.
On desktop to link your Prime?
Yeah.
Okay.
What else we got?
That's it?
All right, cool.
Smitty, we'll give you the last word, bro.
And where can they find you as well?
Yeah, where can they find you?
Bring on his Instagram if you don't mind, Bill.
Yep, man.
SmittyTheGoat on all platforms.
S-M-I-T-T-Y, The Goat on all platforms.
I would personally try to invite everybody to get into that five-day mastermind.
31 bucks.
That's where the magic is going to happen.
So if they click the link in my bio, I have a free class there in the link in my bio.
That can teach them the value and the frameworks, but getting into my mastermind is going to help them really scale this thing to the next level with what I do at a higher level.
Boom.
You can be assaulting directly from me.
You're going to be on there with me.
I got guests coming in, too.
So, like, seven-figure earners, eight-figure earners in, like, the commercial real estate field.
And, Grant, you don't got to pay back.
So, I'm really about to bring together, like, a mastermind piece for everybody to, like, really win, man.
So, it's going to be dope.
Grant, you don't got to pay back.
That's crazy.
That's fire.
Okay.
Thank you for coming, bro.
We learned a lot.
I learned a bunch.
I took notes and stuff like that.
So, thank you, bro.
Yeah, 100%.
Guys, we'll be back with Dave Green here in a bit.
We're going to go and do a real estate for you guys on this two-part Money Monday, and then we're going to go ahead and do FNF News.
So stay tuned, guys.
We'll be back here.
Give us about 10 minutes to switch around.
And a quick word from our sponsor.
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