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How I Got a $1,000,000 Working Line of Credit!

by Brannon Fain   

The How to Get Lenders Fighting to Give You Money workshop was the best thing I've ever done. I am a huge skeptic on these types of things and am usually reluctant to pay for them. But something caught my interest, so I called Ed Garcia.

After talking with Ed on the phone for over an hour, I was pumped, my real estate investing juices were flowing, but I still didn't commit at that moment. I wanted to give it the "overnighter." About a week later, I called Ed, signed up, and off to Atlanta I went.

You wouldn't believe how it changed my thinking. Not only did the workshop educate me more in a lot of areas in real estate investing, it changed my whole outlook on which direction I wanted to take my business.

I was primarily a "buy and hold" kind of guy, but you see my banks were tightening the grip on me. Every time I bought a piece of property, my banker would say, "Now Brannon, let's not get too strung out." You can imagine how mad that made me feel.

After I learned how to get my lenders to fight for my business, I thought I would just change from a "buy and hold" guy to a "buy and sell" guy, do a mixture of both. But if what Ed Garcia and Terry Vaughan taught would work, why not buy as much as possible and not worry what the banks would say?

Sell some, hold some.. Well, what I learned and what they told me really happened!

I met with my first banker. I didn't want to meet with my regular banker because I wanted to practice my technique. Well, within a week, I was awarded a $250,000 working line of credit. Wow!

I was pumped and thought that if it worked that well with someone I didn't even know, it would really work with the banker I always do business with.
I met with my regular banker, and she was resistant. Politely pushy, I said, "Well let me show you what your competitor is willing to do."

I showed her my commitment letter from the competing bank. Within a week, she had matched what I had received from the other bank. Now I had $500,000 to work with. Holy Cow! I'm two for two. So, I decided to keep going. I am currently working with $1,000,000 for my real estate investing business.

My life has completely changed, and I am making more money now than I ever thought I could at my job.

I went to the How to Get Lenders Fighting to Give You Money workshop in November 2002, went home, prepared what I was taught, and started meeting with banks in January 2003. The rest is history! What a great business!

 
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