Raise over $200,000 in two days.
Once you have established a credit rating, as
described in the guide "How to obtain a first
class credit rating", you are in a position to
borrow thousands from the banks with which you
have been dealing.
Go to each of the 6 banks from which you
deposited and borrowed $1000, or whatever sum you
used, and ask for a personal loan application
form. Fill out this application for a sum between
$1000 and say, $4,000. If you were only to borrow
$1000 from all six banks, this would amount to
$6,000.
Take all 6 application forms home and fill them
out, then take them yourself to each bank, all 6
applications to be made on the same day. The
reason why all applications should be on the same
day is that any checking on your borrowing will
only show up loans that you either had or still
have - not the several applications you are
making at this time.
Because the indervidual sums you are applying for
are small, and as you already have established
your credit-worthiness with each of the banks
that you are applying to, the loans should be
approved in a couple of days. Sometimes clearence
will come through on the same day, in which case
you can leave the bank with a check for the loan
amount.
If the bank has a policy of depositing the money
directly into an account that you have with them,
you just go to the cashier and make a withdrawl
either later that day or when suits your purpose.
Let's say, using this method you borrowed $16,000
and deposited the full amount with another bank
from which you had not originally borrowed,
putting $10,000 into a savings account and $6,000
into a corrent account. By lodging the $10,000 as
security you then borrowed a further $10,000 and
repeated the process as detailed in the guide
"Hoe to obtain a first class credit rating".
Having now borrowed $60,000, you buy a run-down
small flat for say, $36,000; spend $14,000 on
having the flat completely modernised and sell it
six months later for $64,000. After interest
payments you will still show a profit of $10,000.
You may think that your profit is only $10,000
after 6 months, but remember, if you had not
started to build up your credit rating some time
earlier, you would not have achieved this profit
at all. Think of this as another stepping stone.
With greater experience and an even stronger
credit rating, so your profits well expand
accordingly.
Eventually you will achieve a credit rating where
raising from $20,000 to $40,000 in a few days
from one bank.Expand the number of banks you use,
say, to 10, using the methods described in "How
to achieve a first class credit rating". Start
your borrowing with $1000, then as your credit
rating improves, request a 30 day loan of $2,000
from all 10 banks. When this period is over,
repay the whole amount to each bank on the same
day, and after a month or two do the same again,
this time at $4,000 each bank for 60 or ninty
days. Try this a few times more to show the banks
that you are a good credit risk, and work
yourself to a point where you can get a credit
line of $20,000 from each bank.
Once your reputation has been carefully built up
by borrowing larger and larger amounts, you will
be able to raise $200,000 within 2 days, ($20,000
from the ten banks). Bearing in mind you started
out this exercise with $1300 as outlined in the
previous guide you can see what can be achieved
over a relatively short period of time, by using
a small amount of starting capital.
