Did you know that you can leverage your credit to invest in business assets?
In this episode of Share the Wealth, Dalle Garcia reflects on being fascinated by how money works at a young age. This led her to seek knowledge and build networks to reach her financial goals. She learned to use credit and authorized user accounts to her advantage. By using debt smartly, she’s able to find the resources to jump into the investing space.
Dalle Garcia was born and raised in the Bronx, New York City. Her first job out of school was at a real estate law firm in White Plains, New York. There she learned the art of real estate and it was the best thing that ever happened. Soon thereafter, she was mortgage brokering and helping homeowners get financing. Reviewing credit has been something she learned very early due to home loan financing. Getting a real estate license while serving loans was a no-brainer. Things changed really fast in 2008. Surviving the last recession had geared her into having financial setbacks and had to work on her own personal credit.
Tune in now and learn specific strategies when it comes to your building credit score!
[00:01 – 15:14] Who is Dalle Garcia?
- Helping people build business credit and leverage it to purchase assets
- Being an immigrant and growing up dreaming to do bigger things
- Studying hard about credit and learning from her mistakes
- Feeling responsible for her family and now, teaching her son early about finances
[15:15 – 23:09] Being More Creative With Credit
- How to get higher lines of credit when you don’t have assets to show for
- Dalle explains authorized user accounts for credit cards
- Leveraging good credit
- The lessons she gained from working in a real estate law firm
- Utilizing her credit to buy real estate
[23:10 – 28:18] Hedging Inflation Through Credit
- Working together with people with good credit
- Using business funding and reinvesting
- You can always get a nice return with real estate
[28:19 – 32:33] Reinvesting Debt
- Start branching off with your finances
- Buy assets with debt
- Dalle shares one client’s success story
[32:34 – 38:19] Closing Segment
- Do you want to build wealth for yourself and your family? You need THE LAUNCHPAD. Click here to learn more!
- The final 2 questions
- Dalle on diversification: You need to diversify in certain scenarios in life
- Connect with Dalle!
“I appreciate people that want to grow. And even if they don’t know, they’re just going to leap. That’s the key. Go and go for it. Stop overthinking it.” – Dalle Garcia
“I love to educate business owners, even people that don’t have a business and are thinking about starting something.” – Dalle Garcia
“You have to diversify certain scenarios in life depending on how that impacts you. Because if you’re self-employed and you only have one form of income and that business slows down and you don’t have nothing else.” – Dalle Garcia
Let’s get connected!
[00:00:00] Dalle Garcia: It’s all about being creative. We can sit down and come up with different scenarios. So that’s what I love to do. Like sit down with masterminds and come up with ideas of how we can hedge inflation, because at the end of the day, the stock market is not doing too great. And a lot of people have lost money.
[00:00:15] So it’s like, diversification is great, but it’s like, to me, real estate is like, no matter what. Whether interest rates are going down or high, you can always make a nice return and real estate from the inception, from the beginning, when you get into the deal from the very beginning until you get to the deal, your exit strategy is there. You already know that there’s money there when you get in.
[00:00:34] So that’s the type of deals that I get into, but that would be something that I would, you know, mastermind with other mastermind and business owners or investors who want to leverage their credit because most people only know credit from like, oh, let me go get financing from a lender. Not knowing how they can do it through another way.
[00:00:50] Like, let’s go the business funding way. Let’s get the money from there. We can put it here. Then we can move around and we can keep doing this and over and over with different joint venture partners. So if we’re doing partnerships in real estate, we have a lot of people. Then we can always work with everyone in this group doing the same thing I repeat.
[00:01:09] Intro: Welcome to the Share The Wealth Show, where minority professionals can learn to escape the racial wealth gap, and catapult themselves into abundance. Your host, Nicole Pendergrass grew her net worth from being negative to multiple six figures. Join her on her investigative mission to expose secret strategies of the wealthy. So we can all have the tools needed to build the life and legacy we were created to possess. Now it’s time for the show.
[00:01:36] Nicole Pendergrass: Hi, everyone. Welcome back to the Share The Wealth Show. My name is Nicole Pendegrass. I’m your host. And today we have a pleasure of speaking with Dalle Garcia. That is a force to be reckoned with in the credit industry.
[00:01:51] She helps individuals build business credit and leverage those lives to purchase assets, and to really build up your ability to participate in wealth building strategies. So debt is a very controversial subject, I will say, but she really outlines how to use it smartly. You can’t just use debt with any strategy just for consumeristic items, but if you have a plan in place behind it, and if you partner with people to come together, You can really make some big moves in the industry or whatever it is that you’re looking to do. Dalle actually had issues in the recession.
[00:02:29] And she went through the recession with her job and with losing almost everything that she had. And after that, she learned to separate her business credit from her personal, she created entities and learn how to build business credit. Now, helping other people succeed has always been something that has been deep in her spirit.
[00:02:48] And so she assists people with foreclosures, with collections, with bankruptcies, with judgments, every possessions, and now she wants them to be able to pursue happiness. And that was her drive. So business owners needed access to business funding to help guide them there and help guide them to getting that funding so they could take their business or their investing to the next level.
[00:03:11] And so whether you are for, or against debt, this is an episode that you really need to listen to. Stay tuned because she digs into some big mindset and creative strategies. Hello, welcome everyone. Welcome back to another episode of the Share The Wealth Show. And today we have with us Dalle Garcia. Oh my goodness.
[00:03:32] This is my girl. She knows so much. You have to stay tuned. Listen to the whole entire episode, get your pen and your paper. I already know it’s going to be crazy. So, Hey Dalle, how are you doing? Thanks for joining us
[00:03:44] Dalle Garcia: today. Hey, thanks for having me, Nicole. I really appreciate being here. Part of the share the wealth show.
[00:03:51] I mean, this is big. This is huge. Like we’re opening up new avenues where people could understand information on finances and how they can leverage credit, how they can get into the real estate investment. This is so much fun. I really appreciate you having me here. Thank you. Yeah, no problem.
[00:04:07] Nicole Pendergrass: Thank you for sharing.
[00:04:08] They are willing to share the information that you have, you know, went through blood, sweat, and tears together. You’re sharing that information with everyone, so they don’t have to go through those scars. So let us just get started because I know a general overview. I feel like I’m going to ask you some more in-depth questions and really dig in so that people can understand, you know, where it comes from.
[00:04:28] So I gave a high-level overview of your bio, but in that you have such a wealth of experience and knowledge, what do you think was the primary, maybe, I don’t know, the most transformational piece of information or experience that you went through that just changed the way you either looked at money. The way you looked at finances just kind of changed the trajectory of how you thought about money and what you were doing to build wealth
[00:04:55] Dalle Garcia: for your future.
[00:04:56] That’s such a powerful question because you know, I born and raised in the Bronx. Bronx in the house. Born and raised in the Bronx from Dominican family that immigrated into the United States. So I’m like first born American. So that’s where it all started. Because again, a lot of the families that immigrated to the United States, they’re looking to come here for opportunities that impact, you know, that iis connected to the US dollar.
[00:05:20] So growing up as a child, I always heard that like, families that were in the Dominican Republic that wanted to immigrate into the US because of the opportunities, because of the dollar versus the peso, right. So that as a young age, I was always curious like, well, why are people leaving? Like why they want to come to this other country?
[00:05:38] And why is that so important? And what’s the difference? Like, are people eating and living in those other countries? So then I started to like, kind of like having an eye for that. So I grew up in the Bronx with my mom. She immigrated from the Dominican Republic. Her first language was Spanish. So, you know, we spoke Spanish fluently in the house, living in an apartment building.
[00:05:59] I was always fascinated by the landlord coming up to the apartment once a month, because back in the days, it wasn’t like digitally. Like now, like you can get mailbox money or whatever. The landlord would knock on your door. My mom would open the door and she would have to give him the check. That’s how it used to be.
[00:06:16] So I used to be fascinated by that I used to say. So his name was Charles Wright. on. Never forget him because the check would be payable to Charles Wright. So I used to tell my mom, I want to be like Charles Wright. So it seems like, oh, you will one day. Right. So I didn’t understand that I’m like, this guy will come every month and get the check.
[00:06:31] So I’m like, so he would get the check-in everybody’s house. Like, wow, that’s huge. That’s like, you know, that’s how you make money. So I would always be interested in that. And, you know, growing up, like not being wealthy, I used to always have a big imagination. Like I want to have like more, I want to be able to do bigger things and they always stressed education in my household, but being growing up like that and being able to go outside of the Bronx, to the suburbs and having the opportunity to look at how other people lived and how they lived in bigger houses, how they lived better, going into better schools.
[00:07:05] I wanted that for myself too, you know, not knocking my mom and how hard she works, but I wanted that too. So I was always on that pursuit, like, well, how do I make it? How can I get there too, you know? So that led me to studying a lot of research. I was never really a TV person and still to this day, I’m not, as you can see, you know, like this is not like a big background, a real book.
[00:07:27] So I read a lot. I’ve been reading a lot since very young. Like I had like Robert Kiyosaki books, Rich Dad, Poor Dad, and even like little real estate pamphlets since I was like 12 and 13, living in the Bronx. And I used to ask my mom to always get me them, and some fascination about structure and people living in them and how I can make money.
[00:07:46] And how can I put that together without having anyone in my family to help me. So I felt like that was my calling. Like my spirit was like, you need to break that curse. Like at the time, I didn’t
know, it was like a generational curse or leveling up with a financial acumen, but it was like, oh, that was my responsibility.
[00:08:03] And I felt like I had to change that for myself and for my family and my legacy. Now, as I got older, I understood that that’s what I was doing at that time. So that made me get all these little books and I was like, well, how do I start getting into getting all this wealth? How do I get myself into getting any kind of financing from lenders?
[00:08:21] Like, how does that work? How do I go from a girl from the Bronx growing up like this, getting into. Ownership or having anything. I was always fascinated by that, but then not know what or how to even do it at all. So that led me to reading a lot of these books and I said, I have to own this. I started learning about credit early, like very early, like even before I even started working on anybody’s credit, I was looking at my own like FICO scores, trying to understand all of those things.
[00:08:46] And I started young. So I know it’s like kind of crazy cause people be like, well in my twenties, but this is me ambitious. The young Dalle, the inside that little child Dalle inside of me that wanted to be successful. You know, I always told my mom I’m going to be a millionaire. I used to tell my mother that I’m going to be a millionaire.I know it, you know, and that’s when I started
[00:09:07] Nicole Pendergrass: At 12 and 13, that’s insane because yeah. So you just started as a little hustler, like trying to get it. That’s crazy. And to know that you’re going to be a millionaire, like I didn’t at 12 or 13, I wasn’t thinking about that. Like I was thinking, I thought, like I told my mom, I wanted to be the president of the United States, which I guess I could, but that’s funny, like I hate that.
[00:09:27] Like I hate politics and like law. I like to read, but having to read a whole bunch of like law books that just seems like, oh God, so boring. So I definitely didn’t know what I was talking about, but you knew and you just kept going with it. So, okay. So that was a lot to unpack. So what I’m thinking is, I guess you discovered how important credit was, or you started reading about ownership, real estate credit, and all those things kind of ended up combining, and I’m not sure how aware were unaware you were of that at the time. But as you grow older, what was maybe your first experience with credit? Either good or bad when you’re trying to utilize it or with ownership when you’re trying to get in real estate.
[00:10:07] Dalle Garcia: Okay. Well, that’s a great question because when I went to college, right? So again, when I was studying and I was like, okay, now I’m going to be successful. And I felt like education was the only way. That’s why I was honing in so hard, that energy that I was in these special classes in these SP programs.
[00:10:23] And I skipped like the eighth grade and I was getting a lot of attention from like this, I’m part of this organization called the, I have a dream foundation and they’re in New York and they started by this man in Eugene Lang. And he would go to like the inner-city schools. And New York city and they will sponsor certain schools like out of the blue.
[00:10:41] And I was like, so blessed that in the sixth grade I was one of those classes. So that’s what gave me a lot of like insights to see how other people lived in a high level, because these guys were like millionaires. And they were like in a sponsorship, uh, scenario where they were able to, you know, invest in students.
[00:10:58] So that’s what led me to these eye-opening experiences. Okay. So then I read these books and understand these, you know, my sponsors, which were the Robinson brothers, one was a lawyer. They lived in Westchester, they had beautiful homes and they own businesses. And I was also like watching them like, well, I want to do that too.
[00:11:17] Like, how do I get put on. They own real estate. So asking questions. Reading my books when I went to college, which they sponsored. That’s why I mentioned that, The “I have a dream” foundation. They sponsored my whole college education. So it was a free ride for me. And during that time I started understanding credit.
[00:11:34] I started pulling my own credit, but then I didn’t understand it fully because that’s when credit card companies, they start sending you credit cards. When you first, you know, enrolling in school at college. That was my experience. I got my first credit card. I believe it was like $500. I don’t remember what it was, but all I know is that the interest rate was high and I was not paying attention to that.
[00:11:53] At that time, I was just using the card. I wasn’t understanding payments and, you know, making sure you pay within a certain time dates that expired all of those things, utilization. All those things came as I was, you know, misusing my credit. So that was like a nightmare. Then I noticed that my credit score was in the five hundreds because I had used the credit too much and it wasn’t used properly.
[00:12:15] And that led me to say, well, wait a minute, I got to change this. This was a school where I remember using the computer at school to pull my credit and to analyze this again, even though I was younger doing that. To actually apply this knowledge to my own credit and I said, well, we got to change that. I got to do something and turn this around.
[00:12:32] So I started to do that. I started to apply credit to the right places, understanding when timing for payment. I started to see my credit go higher. So I started getting excited and I’m like, and telling other students, like, what’s up with your credit? You guys need to, they were not even paying attention to me at the time. It wasn’t important to them.
[00:12:49] Nicole Pendergrass: Wait, how old were you at this time? You were in college when you looking up your credit?
[00:12:53] Dalle Garcia: Yeah, because when I went to college, it wasn’t, I graduated high school in 94, right. Because I skipped the eighth grade, but I didn’t go to college right away. I took a year off to work in New York and then I went to college in 96.
[00:13:07] So around that time, 1996. It was a time that I went to college and that’s when I got my credit card and it was a nightmare. And then I started taking control of it because most of the time when you’re not, you know, like in the midst of that information, you’re just using the cradle. I got money. And you’re not realizing how that impacts you in this country and how it can, like, you know, you could either make things better or worse.
[00:13:29] Nicole Pendergrass: Yeah, definitely. I think I was in the same exact, no, I’m not absolutely the same opposite. The exact opposite situation. Like my mom, the only financial Everett advice I ever got was the only financial advice I ever got was don’t open a credit card. I didn’t know about credit. I didn’t know why, I guess they were evil.
[00:13:49] Like, don’t do it. They trying to swindle you, blah, blah, blah. And so I did it for the first couple years until I needed money and I got one of those things in the mail and I was like, okay, why not? And then I summarily start like completely ruined my credit. And it took me probably more than 10 years to really get it back to, you know, where it’s supposed to be. And it’s just because we weren’t thinking about it at that age.
[00:14:10] Dalle Garcia: The lack of knowledge and you know what? I was scared because I didn’t know. And it’s sad because again, I was the firstborn American, so I was one of those kids that. When the mail comes in English and it was a little too complicated.
[00:14:23] Like my mom would like, can you read this for me and tell me what that means? Like, what are they saying? You know, so I was like the leader, like I had to be the one to try everything trial and error because of course they didn’t understand how it was operating here. So that’s another reason why I felt responsible because it’s like they would come to me.
[00:14:40] To read their stuff. So I’m like, geez, I’m going to have to be the liaison, the person, the leader, to change things here because we got to do better, you know, but you’re right. I was scared. I didn’t have anybody telling me, Hey Dalle, this is what you need to do. And this is why I teach my son because of the lack that I didn’t have kind of.
[00:14:58] What you experienced, we didn’t know what to do. So it’s like, I don’t want him to be like that. I want him to be ahead. So from very young, I’ve been teaching from seven, he’s been learning about credit and FICO and all that from very also, it’s not like a foreign thing to him as an adult.
[00:15:13] Nicole Pendergrass: Okay. So what I really want to know.
[00:15:15] I want to know some juicy stuff. Like I want to know what is the most creative strategy you’ve used with credit to get assets or to increase your wealth. And what kind of way, like, how have you played around with credit, yours or personal or business? How did you build that up? Like, what was the most creative high-level strategy that you like any kind of asset or ownership.
[00:15:38] Dalle Garcia: Okay. So as you know, and that’s awesome because that’s exactly the powerful nature of credit, how to leverage it and how to be creative with it. Creativity applies to a lot of things when I was working on my credit in school, and I started to realize that, you know, of course I don’t come from a wealthy background or family.
[00:15:55] I started to see that I had to have larger lines of credit in my credit reports to be reporting, but where am I going to get that from when I’m a college student and, you know, I don’t have anything to fall back on or any assets to show like, Hey, So I had to get creative and I started learning about authorized user accounts.
[00:16:12] Piggybacking, usually like what the wealthy or people that have established credit do for their children or their family, or a spouse does for their husband or wife. If you have excellent credit, you just authorize user a third party. And that history of that trade line will report on so the personal credit of that third party, so.
[00:16:32] If you have American Express or Visa card that you’ve had for more than three or four years, it’s been in good standing. You have a line of credit of more than five or $10,000. You’ve been paying that it’s in low utilization is an excellent trade line. That can be transferred into someone else’s credit report by adding them as authorized users.
[00:16:50] So I started to use that strategy on my own credit report, which led me to be able to get my first American Express. I remember it was the gold card. I was like super excited, like, oh my God, I got an American Express, right.
[00:17:02] Nicole Pendergrass: So wait, wait, maybe I need you to, I’m sorry, I don’t want to cut your train of thought, but I need you to explain that like dig into utilizing that strategy. And so I get it. You have the line of credit. That’s good. Like it has the five or 10K it’s been three-plus more years. So now you’re putting that you’re adding an authorized user to your card so that their credit now looks better. How does that benefit you? And how did you use that to get to the next level?
[00:17:29] Dalle Garcia: So I had some friends that I had and, you know, they had great credit. They were older. I’ve always had like older friends and they were already established and I was telling them like, I’ve been working on my credit. So one of them said, well, I have an American Express and I have a MasterCard that, and I can add you as authorized user, because we were talking about the, actually I was the one educating them about authorized user, because most people don’t understand that.
[00:17:54] So again, having a credit card that’s in great standing. It’s a revolving account for more than two years, at least two years or more in good standing. Whether utilization is very low, maybe 10% or less, it’s been paid every month on time. Now you come to me and say Dalle, I’m building my credit. I don’t have enough credit.
[00:18:15] That’s going to help me get to the next level because there’s levels of credit, there’s levels to this. So you can have a 700 FICO score with nothing reporting with enough length of time. It usually is a lot of timing involved. So that timing you could kind of like skip a little bit by adding a tradeline in authorized users.
[00:18:33] So you come to me and you say, Dalle, I need to build my credit. And I say, okay, great. I’m going to add you as an authorized user on my American Express card. So what had happened. Or maybe a Visa card. What happens is, is I call my lender and say, Hey, I’m going to add Nicole. She is my authorized user. Now what happens?
[00:18:48] Usually people are like, but wait a minute. Does that give Nicole access to your account? Well, no, not necessarily because it’s, you can be in control of that. You can add pins, passwords. But at the end of the day, the person that needs help is not going to do something like that. So you’re going to add the authorized user account.
[00:19:04] You’re going to call your bank. I’m going to add Nicole in the next billing cycle. That trade line that I’ve had handled all these years is going to be reporting on your credit report, on Nicole’s credit report, which is going to help boost the FICO score is going to be. The debt to income ratio. And it’s also going to help that person.
[00:19:22] That’s trying to, you, that’s trying to build their credit, be able to get access to higher lines of credit that normally they wouldn’t, because if they did it on their own, it was to have to start with a small 300, $500 credit card or a six-year line of credit.
[00:19:36] Nicole Pendergrass: Okay. That makes sense. So basically when you were young doing it, and when you started off, you were educating, this is why education, that information is so important because you knew the information.
[00:19:45] So you were able to tell other people have. It could work and not, you know, hurt themselves or hurt their report, but still help you. And because you guys were friends and they were able to, and willing to do that, that’s cool. I love that
[00:19:56] Dalle Garcia:. She helped me a great deal. And then there was another person that I had.
[00:20:00] So I kept adding these lines accounts from friends because people also don’t have access to friends that are going to do that, or that have the credit to do that. So you can buy these trading lines. So it is a business like people sell trade lines. You know, some people, you know, frown upon it, but it’s not, there’s nothing wrong with it as long as two people agree, that’s what they want to do. So that helped me be able to boost my credit score faster, get access to higher lines of credit faster as opposed to establishing a secure line of credit at a slow pace. $300 here, 500, that’s too slow. It takes time. It can be done, but how do we get there quicker through the tradeline otherwise use.
[00:20:40] Nicole Pendergrass: Okay. And then how did you leverage that to leverage the good credit? Cause you’ve been all this time, all these years searching and doing, you know, making sure your credit was on point and educating yourself. So now what was the next step? Once you got the credit to a certain level, how did you leverage that int….
[00:20:57] Dalle Garcia: Everything happened. Like God has like, has a plan. Like the Bible says, but then God has his plan. Like, even though I, lik,e you know this from young, I’ve been in the real estate books, I’ve been interested in, in creating, getting assets. And then I know about credit because then I know how to leverage it.
[00:21:10] Now I, you know, I’m a college student coming out. I graduated now I’m looking for a position. So my first job out of school was at a real estate law firm in White Plains. And we did everything there, mostly residentials. We did wills, trust and, so that’s where I learned a lot about, you know, how to invest, right?
[00:21:28] So I was the legal assistant because at the time I was thinking about pursuing law school. So I have excellent credit and pursuing law school, but I want to work after, you know, I graduated from university at Albany. I was like, well maybe let me take a break. And I started working at this firm and this firm, this is where I learned everything.
[00:21:44] This is where I was able to start investing because I started to get the deal from the attorney, which I was his right-hand person from the inception of, you know, from the offer memorandum. It will come into our office and he was dealing with like big real estate companies, like Douglas Elliman, you know, Coldwell Banker and even the Cochran’s, you know, like we were dealing with big-time real estate in New York, Westchester County, New York City.
[00:22:06] So it will come to our desk and I was the person to handle that. Take it from the beginning, all the way to the closing, like from reviewing title, making sure title was clear, making sure conditions were satisfied on the mortgage, if there was financing included, all these things in all these scenarios.
[00:22:22] So I’m over here in this and I’m like, I’m in it, but how do I get in this? Right. So I started networking with the right people and leveraging my credit because I had access to mortgage brokers. I ended up getting in the mortgage business at this time. So now I’m understanding financing and how I can help myself with my own investment properties from the knowledge that I’ve got I’ve gathered from over the years and being at the law firms.
[00:22:46] So I was able to understand the legality of closing in New York. Due to the experience I had at that law firm. So I started buying my own deals. I started doing a hundred percent financing, 6% seller’s concession, you know, three family, four family homes, single-family homes, renting them to families. And that’s how I started in the investment part of it, leveraging my credit with no money at all.
[00:23:09] All right. So let’s talk a little bit about the economy and just like a high-level view of what’s going on right now. In today’s environment because, okay, we’ve had this longest period ever of super low interest rates, but now we have, you know, all the extra capital that’s put into the system, that’s making, you know, inflation go crazy. That’s making, now they were trying to raise interest rates to kind of decrease the rate of inflation and like home prices and all that. Like all these different things that working together. So is that even possible to do a hundred percent financing deal right now? And even if it is, is that smart or like what’s the strategy that people should be using now with credit and with what’s going on in the entire, like the economic system today.
[00:23:53] Dalle Garcia: Yes. Awesome questions too, because again, there’s nothing new under the sun. So I did survive that last recession. Barely. It was horrible, but I learned a lot. From that, because it’s pretty much where we are now. It’s kind of similar with the interest rates going up. We also see food shortages. We also see, so we have to be creative again. So if there’s nothing new under the sun investment, like real estate or cyclical, then we always have to adjust accordingly. That doesn’t mean that we’re going to be in a bad place. We just adjust and put ourselves in a position where you’re not going to be at a major loss. So of course, leveraging business credit at any situation at any economy can be done.
[00:24:33] It just has to be done wisely. So if interest rates are going up, we already know like, well, how do we leverage. What’s happening now with, at work. Should we buy real estate now because interest rates are going up? Well, of course, cause you can still always find deals. But I say coming together as a group of people is always best get into these types of investments now to hedge. Like if you have great credit and you have two or three other people that you guys worked together or your friends. It doesn’t have to be only like people that you do business with you guys can hang together. Then you guys can investigate it and put yourself in a better position. So I tell people, listen, if I have excellent credit and Nicole has excellent credit and we create an LLC.
[00:25:15] We can get up to 150,000 of unsecure funding in our entities, right. With a strong credit, righ?. So that’s 200,000 already that we can create. And that’s on a small level. Cause you could get 150, 200, but let’s say a hundred thousand just for easy math. That’s 200 grand. I say we have a third person. That’s 300 grand, and now we can get unsecured funding as 0% APR. Even though interest rates are going high with financing, you can leverage business funding at a 0% APR for six to 18 months. And use those funds to reinvest in something that’s gonna bring you a higher return. So now when it’s time to pay it back, it’s a win-win scenario. You can transfer the balances so that if you have to get more time, what your project is going to bring you back your return.
[00:25:58] So it’s all about being creative. Now we can sit down and come up with different scenarios. So that’s what I love to do like sit down with masterminds and come up with ideas of how we can hedge inflation, because at the end of the day, the stock market is not doing so great. And a lot of people that have lost money. So it’s like, diversification is great, but it’s like to me, real estate is like, no matter what, whether interest rates are going down or high, you can always make a nice return and real estate from the inception, from the beginning, when you get into the deal. From the very beginning, you get to the deal, your exit strategy is there.
[00:26:33] You already know that there’s money there when you get in. So that’s the type of deals that I get into, but that would be something that I would, you know, mastermind with other mastermind and business owners or investors who want to leverage their credit because most people only know credit from like, oh, let me go get financing from a lender, not knowing how they can do it through another way. Like, let’s go the business funding way. Let’s get the money from there. We can put it here, then we can move around and we can keep doing this over and over with different joint ventures, partners. So if we’re doing partnerships in real estate, we have a lot of people, then we can always work with everyone in this group doing the same thing I repeat.
[00:27:08] Nicole Pendergrass: Yeah, Okay. That’s what I like to hear. So basically you can work on your, if your personal credit is bad, work on that, you know, whatever strategies that you’re saying, maybe you have a friend who has good credit and has some credit lines that they’re willing to, even if you have to pay a little bit for it, like just do it, not everything in life is free. You know, like so if you have the bigger plan of what you want to do, then it will be worth you paying a little bit to have that good report on your tradelines. So that like now, you can increase your credit, like increase it to a higher level faster than you would have been able to do otherwise. And then after that, now you can open up a business in LLC, talk to someone like Dalle and get your business credit set up.
[00:27:049] And your personal credit is good. You can PG business credit and then build from there and kind of trying to come together with a group of people, friends, or business, and make sure that you can now get an asset and use the credit funding. So you don’t, it’s funny that all this information is out there. People are looking for ways up and they don’t realize that you don’t have to sit and save for 10 years before you can buy your first asset. It’s not a requirement.
[00:28:18] Dalle Garcia: Absolutely and that’s what I’m saying. Time is money, right? The velocity of time, right? So time is money. So even if you’re working a nine to five job and you have a 401k, or if you have self-directed IRA, whatever you have going on at the end of the day, you still should branch off and say, well, let me do another branch of business funding because now I have that. I have that. I have that. Now I have my mastermind team because everyone on your team may not have excellent credit. And that’s great. But if we all were together and help so and so to get stronger, just like all of us are now we have a strong team of people that can get access to funding. Now we have funding power.
[00:28:55] Now we can get 500 grand. We got five people. That’s 500,000, 10 people, a million dollars. I mean, imagine that you could use those funds for a down payment for the deal. You can do it for closing costs. It can help with renovation costs, whatever you have to do with the investments that help you refinance and cash it out. That’s how you do it without having to say, well, oh my God, how am I going to get, you know, a hard money lender? You know, you could even do hard money lending and business funding together is all about creativity.
[00:29:20] Nicole Pendergrass: Yeah. Okay. This is great. Cause you know, there’s that whole mindset of people who are completely against debt and they don’t want to use debt, but at the same time, you don’t realize that your dollar is debt and that our whole us economy is based off of. And then, so why not leverage it wisely? Like if you’re using it to buy assets that appreciate and cashflow, you know what I mean? It’s just different than just consumer debt, because you put something on your credit card. She went to buy some clothes, you know…
[00:29:53] Dalle Garcia: Liability, all these leverage, leveraging for assets because that’s the key. It’s not to go ahead and go into a deeper debt. The debt is to be. You know, wisely. Okay, well, let’s get together. We’re going to get debt. Debt is going to be whether you’re buying, whether you’re getting more financing for a 200 units, that’s debt also, everything’s going to be debt, but the debt is going to is learning how to use the debt, you know, wisely to be able to reinvest it in a way that’s going to bring you a higher return in a timeframe where it’s going to be able to cover the debt in itself to service that debt because servicing that debt and it doesn’t have to kill you, it’s not like, okay, I gotta pay this hard, but the hard money lender gives you X amount of time, right? With business funding, it’s not like that. Worst-case scenario if you have six to 18 months and you get to the 18 months and you still haven’t been able to finish your project, you transfer that balance to another 0% credit card.
[00:30:43] Nicole Pendergrass: Yep. Okay. So we’re wrapping up, but I want to ask you one more thing. So you actually have a business credit business and you help people with this. So can you just give me like an example or two of someone like success story, one of your clients, what their situation was before versus like how you were able to help them? What happened afterwards?
[00:31:00] Dalle Garcia: Well, I’m going to mention one, he works a full-time job. He’s also at nine to fiver, or he works with an airline. He’s an engineer. Didn’t even have an LLC didn’t have a corporate, nothing registered, like that’s where it all starts. And once he got his, I told we spoke about it. A lot of people don’t really understand what business credit is. They know personal credit, but if you know, personal credit is important, what do you think business credit is?
[00:31:36] It’s just as important, right? So any have anything at all? Nothing. So we helped him. He started on while we started building his business credit, started getting him visibility. With the business reporting agencies like Dun & Bradstreet, Equifax, Experian Commercial, little by little, we started going there.
[00:31:24] He has excellent credit too. He has an 800 FICO. They were able to get him over a hundred grand, a hundred thousand, what a new startup business. He was able to take that money and buy. He bought two office buildings with that here in Atlanta, Georgia, and he’s renting them out and fixing them up to turn them into like basis for other business owners and virtual office spaces which I also gave him that idea because I said, well, why not people need virtual office spaces, even though their actual office is not physically there so that they can help build business. Credit is one of the criteria is for business building, for acting on effective business credibility. So he said, that’s a great idea.
[00:32:17] So it’s all about creativity. Now. He owns real estate. He has an entity he’s helping other people. He’s still learning, but it’s like, I appreciate people that want to grow. And even if they don’t know. They just going to leap. Okay. I’m going to try it. That’s the key go and go for it. Stop overthinking it.
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[00:33:44] Nicole Pendergrass: The last couple of questions I want to ask you. We have the same questions that I’m asking every guese. Number one, Warren buffett said that diversification is a protection against ignorance. And I take that to mean people diversify maybe because they don’t really know what they’re doing.So they have to diversify to hedge their risk. Right? What’s your take on that?
[00:34:02] Dalle Garcia: I believe in diversification. But I also believe that if you hone in and put your energy into your craft. It can really bring large rewards. You don’t have to go into so many different places, but I liked diversification because when the economy is like this, certain industries are not doing too strong like they’re normally doing, like people that, you know, like they do taxes every year for others. You know, they’re busy during this time of year. But after that, then it’s not the same, even though they’ve made a nice, kind of, you know, some good money during that time, but it’s like now it’s like, that’s why diversifying and putting it somewhere else is important. If you have a nine to five W-2 income, that’s what 50% tax. So if you don’t diversify on the other side of the spectrum, then how are you winning? So you have to diversify in certain scenarios in life, depending on how that impacts you. Because if you’re self-employed and you only have one form of income and that business slows down and you don’t have nothing. Then what happens then? So for that aspect and being able to have streams, that’s what I have. I know that it’s helped me a lot to have streams and to be creative and create new streams that made me connect to the other streams already that I already offer.
[00:35:10] Nicole Pendergrass: Yeah. Yes. I love it. Perfect. Okay. Other question you play Monopoly before, right? Okay, so Boardwalk or Baltic, which is, you know, one of the first cheapest. All right. So which one and why?
[00:35:24] Dalle Garcia: Wow. That’s, you know, again, there’s levels to this. So where I’m at right now, I would say Boardwalk, but I would probably have said bolted like maybe 10 years ago, but I would say one more now. Why? Because it’s legacy real estate. It’s like you will get paid. Your family’s family would get paid your sons and their children. It’s like, if you play, I would buy and hold that and just hold it. So Baltic, I don’t know. That might not be something that you might want to buy and hold. That might be something you can just wholesale.
[00:35:54] Nicole Pendergrass: That’s a good point. Baltic might be a flip. Not generational. I love it. Oh, man. Dalle. This was great. Thanks for joining in with us. I loved it. Can you tell people how should they get in contact with you if they want to talk more, if they want to hear about the services that you offer or potentially be a client or even just to network with you.
[00:36:19] Dalle Garcia: Yeah, absolutely. Please feel free to reach out to me. I’m on LinkedIn, Dalle Garcia. That’s D A L L E Garcia, G A R C I A. My company is called Gold Crown Credit, LLC. And we are nationwide, we help every, you know, people everywhere and please call me, contact me with your questions. You can reach out to me at email@example.com. And I love to educate business owners, even people that don’t have a business and are thinking about considering starting something. I mean, we help startups. Don’t feel like, oh my God, I’m a startup. I can’t get access to funding. We fund startups. Like you could just register your entity yesterday and get funded with us.
[00:36:58] Nicole Pendergrass: Okay. All right. Well, all I know guys is I’m trying to be in Dalle’s mastermind so I could get my business credit together. We could put our business credit together and we could buy some assets together.
[00:37:06] Dalle Garcia: Yes, yes.
[00:37:09] Nicole Pendergrass: Oh man, I just put it out there. I put it in public so she can’t tell me no,
[00:37:14] Dalle Garcia: No, definitely not. And we also looking for joint venture credit partners. So if you know anyone that has excellent credit and wants to join Nicole or I into some real estate investing and may want to leverage their funding, their credit to get business funding. Contact us. We’re looking for joint ventures all the time.
[00:37:28] Nicole Pendergrass: Nice. I love it. Well, guys, there, you have it. Another episode of the Share the Wealth Show. I hope you got tons of information. If you did it, you need to relisten because there were all these gems inside of there. And in any case, I’ll see you next time. Bye. Thanks Dalle.
[00:37:44] Outro: Did you love this episode of Share the Wealth Show? Be sure to connect with Nicole by following her on LinkedIn, Instagram or Facebook. If you picked up any of the gems that were dropped by today’s guest, make sure you not only put them in your bag, but if you know of someone who would benefit from this information, don’t keep it to yourself. Share the wealth, and make sure to leave us a rating and review. We’ll see you for next week’s episode. Subscribe so you’ll be notified.
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