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Killer Business Plan Secures $850,000 Credit Line

by Terry Lape, The Chicago Guy   

As a licensed real estate broker, I thought I had learned all the angles about buying real estate. Boy was I wrong. Thanks to Ed Garcia and Terry Vaughan, the How To Get Lenders Fighting To Give You Money Workshop has opened my eyes.

The business plan that Ed Garcia taught me to write is just as effective as a loaded gun when it comes to getting money from banks. With Ed Garcia's help, I have secured an $850,000 credit line. The CEO at my bank reviewed the plan and then met with me for what he thought was an interview of me by him. It actually was the other way around. I interviewed him.

I asked him point blank how much money he would open the line with and he said 850,000. I, of course, said I needed more and he said he would have to put together another bank if I wanted to go higher. Cool, Huh! I am really looking forward to seeing you all again at the CRE Online Convention in Atlanta!

 
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