Hey, what's up everybody welcome to this week's segment of the no limit minute and we're actually going to be talking about something today that we've talked about before actually had a guest come on and speak about

it wasn't technically this exact topic it was something a little different and when he dropped this bomb I went and immediately did something about it in my own business so if you guys haven't had a chance if you want to hear the whole story

and all the juicy details go and tune in to episode two 14 with Bronson Hill Bronson is definitely a very creative individual and did something that I never even put two and two together to think about was a was a possibility for for my own scale and my own liquidity in my business.

So what we're talking about today is just that how to get more liquidity how to be more liquid without spending your own capital right how does that even possible what does that look like what are the details of that so jumping right in we had that interview again we were talking

about something a little bit different and he just kind of let it to that just talking about kind of scale and growing his portfolio and he mentioned something that for some reason I had never thought about and that was a line of credit what is a line of credit

personal line of credit business line of credit after all the research I've done since that interview I do not recommend a personal line of credit as it is not that beneficial typically doesn't have the greatest rates doesn't have the greatest terms so typically I want a business line of credit you can typically get more in a business line of credit anyway

and after all everything that you're going to be needing this for is going to be for a business so once you have your actual entity LLC something of the sort created

and you have some income and you have some like moving parts in that entity that your financial institution can see whether that be a local bank or a larger bank I actually went with both then that is all you're going to need for them to make a termination on your

your lendability which is really great because I am in the process of struggling trying to be lendable for a larger bank for like an actual act you know purchasing a primary residence since I quit my day job and now it looks like I don't make any money on my taxes because of all the appreciation we actually make a ton of money anyway just hope fiasco

so with the line of credit it's actually a very unique position and what you're going to be able to do with this line of credit is you go and you get it or what I should say even better what bronze and was able to do when he did this was he went out and got a $200,000 business line of credit he had it on a five year revolving term

and the particular bank that he got it with granted he got it back when interest rates were super low so it was extremely favorable and he was able to lock it in for five years because it's five years revolving

so at the end of the fifth year it basically ends and you can just restart it if you want it to so by the end of the fifth year you have to have paid it back

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