Obtaining High Credit Line - Heard Of Ed Garcia?
I was wondering if anyone attended Ed Garcia's seminars about financing deals? I've read his pitch about how you can have banks extend huge credit lines to investors. Does anyone know more about how this works, or can you comment on his system?
Ed Garcia. The presentation is excellent but there is therein present the essence of misrepresentation.
For instance supose you have terrible credit and you wish to dump your identity and start afresh. Can be done, is done all the time. You merely reach back in time and select another starting point and assume that identity and document it up to date and a new person evolves. I do not suggest it.
You can form a Corporation and insert upon its officer list some rather well known names. Mickey Mouse whatever. You creat a Corporation and you do a bank account and you massage deposits thru there in great amount to show a flow of checks or cash and with that momentum going you start to apply for credit little by little you build it up. You can also now that we have computers set up deposits by wire and criss cross from site to site and slowly increase the rate until it is a really biggy amount. Then apply for loans. Preform on them and onto bigger loans.
I found one of my most trusted managers was doing all rental deposits into an account then drawing out on the account and keeping a running balance with my money which of course in time found its way to my bank account but he had created a very active account in the middle. His purpose was to document himself as a man of substance so he could borrow and pay off his dope supplier. We cut out all the middle stuff and sent the dope dealer on his way short his inventory which caused him a problem cause he was dealing street and now owed his supplier, ah the revenge of the middle aged and middle classes.
I think Garcia is a waste of time and energy. The time and energy expended on those type of things could be better utilized in Negotiation. Concentrate on that and you will have no need for the other.
Cheers Lucius
Hi Lufos,
Could you be a little more clear about why you do not recommend Garcia's seminar?
What exactly was the misrepresentation?
it wasn't at all clear whether you were describing methods that Garcia advocated (identity change) or if you were just musing.
Thanks!
I have never taken the seminar. From what I have heard, Garcia only accepts seasoned investors to his seminar.
To me, this suggests that you would need to be a veteran investor with a track record of success to implement his strategies.
Not from what I hear. I heard that there is a ton of newbies at the workshop.. I think that anyone can attend if they have done at least one deal.
Tom[ Edited by tbelknap on Date 12/07/2003 ]