Finance Tools Archives - Hard Money Mike

Switching to Business Credit Cards Can Help Your Personal Credit

January 1, 2025/in Blog, Credit, Finance Tools

Today we are going to discuss how switching to business credit cards can help you personal credit. Did you know your personal credit can take a hit just from carrying a balance on your credit cards? It happens because personal credit cards report balances to the credit bureaus every month. High balances, even if paid off later, can hurt your credit score.

That’s where business credit cards come in. These cards don’t report your balances to personal credit bureaus (unless you’re late on payments). This means you can use them for big expenses without affecting your personal credit score.

Here’s an example: Sarah, a real estate investor, used her personal credit cards to cover renovation costs. Even though she paid them off, her score dropped because her credit utilization was high. When she switched to a business credit card, her personal score rebounded, and she kept the flexibility to fund projects.

Switching to business credit cards can be a smart move for anyone juggling expenses. It’s not just for businesses, it’s a way to protect your personal credit while managing your cash flow.

Ready to learn how to make the switch? Let’s dive into the details and show you how this small change can make a big difference.

Contact Us Today!

Is your credit score where it should be? Contact us today to find out how switching to business credit cards can help your personal credit.

Free Tools For You!

We also have free tools available! Download the Credit Score Checklist now to see what changes you need to make in order to get on the right path.

Learn more!

Visit our YouTube channel to learn more about real estate investing and how you can get on the fast track to success!

Consider a 911 Loan today!

December 2, 2024/in Blog, Credit, Finance Tools, Tips

How can a 911 loan help you? If you are like most investors, you have used your personal credit cards to keep projects moving along as well as ensuring that business expenses are paid. However, the problem with this method is that the balances on the personal credit cards can drive down your credit score. A lower credit score can result in a higher chance of getting denied for a loan for your next project. It is important to remember that real estate investing is a leverage game. The better leverage you have, the easier real estate investing becomes.

By using a 911 loan you can pay off your credit cards and other loans that report on your credit report. This will increase your score and in turn create better leverage and loan options for your next project.

Contact Us Today!

Are you in the best position for the best loan rates? Contact us today to find out if you need to consider a 911 loan today!

Free Tools For You!

We also have free tools available! Download the Credit Score Checklist.

Learn more!

Visit our YouTube channel to learn more about real estate investing and how you can get on the fast track to success!

Financing is Key

November 4, 2024/in Blog, Finance Tools

When it comes to real estate, finding the right financing is key. Most investors don’t just buy properties with cash. Instead, they use loans to maximize their money. Why? Because leveraging a loan allows them to buy properties they couldn’t afford outright, while still keeping cash on hand for other projects or emergencies.

Let’s say you want to buy a small rental property. Instead of paying the full price, you use a loan to cover a big chunk of it. This means you can save your cash for things like repairs, upgrades, or even a future investment. The right loan gives you flexibility and a stronger foundation to grow your investments.

Different types of loans work best for different types of deals. Some loans are ideal for buying rental-ready properties, while others help fund fix-and-flip projects. That is why finding the right financing is the key to your success! By understanding which loan to use, and how to use it, you can set yourself up for better cash flow and bigger opportunities.

Contact Us Today!

What type of financing is right for you? Contact us today to find out more about real estate investment loans!

Free Tools For You!

We also have free tools available! Download the Loan Optimizer to compare financing options side by side!

Learn more!

Visit our YouTube channel to learn more about real estate investing and how you can get on the fast track to success!

The Quick Deal Analyzer: How to Guarantee Positive Cash Flow

August 10, 2021/in Blog, Finance Tools

The Quick Deal Analyzer: How to Guarantee Positive Cash Flow

Have you heard of the Quick Deal Analyzer?

Because it’s an excellent tool to use BEFORE you buy a real estate property.

The Quick Deal Analyzer helps real estate investors decide if a property is worth their time, money, and effort.

It’s an easy-to-use tool that allows you to quickly evaluate a fix and flip, rental, or another value-add property to see where the numbers land. Because, why bother negotiating with a seller, finding a lender, closing a deal, and renovating if the numbers don’t make sense from the start?

Why bother with all of that work if you’ll end up making little to nothing?

The Quick Deal Analyzer also lists some important questions that will, again, impact your cash flow and profits.

For example, how many months will it take to complete the project? The longer a project takes, the less money you’ll see in your pocket. Because you won’t be collecting rent or selling the property. Instead, you’ll be making payments to your lender and contractor.

Just remember, the Quick Deal Analyzer only works if you answer everything as honestly and accurately as possible. If you fudge the numbers or make false assumptions about your timeline and costs, then the profits you expect won’t be there when you go to rent or sell.

If you utilize this financial tool as you search for real estate deals, then you should be able to decide if you should walk away and find a different property. Or if you should stick with it and walk away with the kind of money you were looking to make.

Are you ready to try the Quick Deal Analyzer? Great! It’s here to download at any time. We also have other real estate investment tools you can download, like our Loan Optimizer. Because our main goal is to help you succeed and start living the life you’ve always wanted.

If you need help with the analyzer, or would like to run through your numbers with our team of experts, then reach out to us. We’re always happy to help!

Happy investing.