how to get $100K for free without even trying

SUMMARY

Colin Yurcisin shares strategies on how to leverage debt and credit, aiming to help individuals access $100,000 for free.

CORE INFORMATION:

Understanding the concept of money is crucial for wealth-building. Colin Yurcisin emphasizes that money is merely "stored time energy," which highlights its abstract nature post-1971 when the dollar was tied to nothing solid like gold. He explains that banks print money as needed, signifying that the notion of scarcity surrounding money is largely a misconception. This points to a broader systemic issue where individuals often trade their precious time for cash while failing to recognize the banks' creative control over money, which they produce almost limitlessly.

In pursuit of wealth, Yurcisin proposes a framework to effectively utilize credit cards with 0% interest rates. By viewing borrowed funds as "borrowed time," he outlines a comprehensive pathway toward financial freedom through strategic credit-building. The process involves tactics such as adding oneself as an authorized user on accounts with good credit history, starting an LLC, and building relationships with bank representatives. By following Yurcisin's steps, individuals can potentially gain access to significant sums of interest-free capital that can be utilized for investments or business ventures.

Building a strong personal credit file is the key to leveraging these opportunities. Yurcisin suggests sequencing credit card applications and managing relationships with banks meticulously, emphasizing on maintaining low utilization rates and increasing credit limits over time. The goal is to accumulate various credit accounts, ensuring a diverse credit mix, which boosts one’s creditworthiness. Following this method can potentially lead to acquiring $100,000 or more at 0% interest, allowing individuals to invest in opportunities that can generate wealth efficiently.

HOW TO APPLY

• Understand that money equates to "stored time energy" to change your financial perspective.
• Become an authorized user on a parent’s or someone’s good credit card for a better credit score.
• Establish an LLC to open channels for business credit and tax advantages.
• Schedule meetings with bank relationship managers to secure favorable credit options.
• Fund personal and business accounts with significant amounts for higher credibility.
• Apply strategically for tier one credit cards, waiting 91 days between applications.
• Maintain a payment strategy that involves using cards regularly but keeping balances low.
• Utilize positive trade lines such as mortgages and personal loans to strengthen credit history.
• Check and manage credit utilization to maintain it below 10% on all accounts.
• Apply for business credit cards through a relationship manager for potentially higher limits.

IDEAS:

• Money is a conceptual representation of stored time rather than a tangible commodity.
• Historical factors led to the disconnection of money from tangible assets like gold.
• Wealth creation involves understanding and manipulating perception of money value.
• The banking system thrives on creating money without tangible backing.
• Credit cards can serve as tools for financial leverage at 0% interest.
• Borrowing against perceived value creates a cycle of profitable opportunities.
• Many wealthy individuals borrow substantially and incur little risk.
• Loyalty to banks can reward users with substantial financial advantages.
• Tax avoidance strategies are linked to leveraging debt wisely.
• Personal connection with banks leads to better funding opportunities.
• Credibility in the finance world is built through long-term relationships with banks.
• Strategic financial planning can result in seemingly "free" capital access for investment.
• Optimism in revenue projection enhances bank trust and funding success.
• Cash flow management minimizes risks associated with credit utilization.
• Diverse credit accounts improve credit building and reliability.
• Time invested in credit-building pays off with financial freedom benefits.
• Various business ventures can be funded using credit without using personal savings.
• The journey of credit-building requires discipline and consistency for maximum results.
• Utilizing temporary debt effectively can create permanent wealth.
• Real-time financial education empowers individuals to break away from traditional earning models.
• Finding avenues to legally acquire resources from banks can foster entrepreneurial growth.

INSIGHTS:

• Viewing money as "time" reframes financial stress to encourage proactive wealth strategies.
• Banks operate with a profit motive fueled by the illusion of monetary scarcity.
• Understanding the value of relationships with banks can yield significant financial benefits.
• Accumulating knowledge-based financial literacy is crucial for a successful credit journey.
• Proactive management of one's credit profile can enable unfettered access to opportunities.
• Deconstructing traditional perceptions of money can lead to innovative financial strategies.

QUOTES:

• "Money is just stored time energy."
• "Banks print unlimited dollars for free."
• "It's all backed by nothing but fairy dust."
• "Borrowing time at 0% gives you time back."
• "Debt is another form of borrowed time."
• "You don’t have to have money; just a job."
• "The more the better" when it comes to diverse credit types.
• "Once you do this once, you’re set for the rest of your life."
• "Spend as much as humanly possible; they reward loyalty."
• "The sequence ensures you get $100,000, aka one year of your time back."

HABITS:

• Regularly monitor and manage credit utilization to maintain low debt-to-income ratios.
• Schedule periodic meetings with relationship managers to strengthen bank connections.
• Keep at least one recurring expense on each credit card to maintain activity.
• Stay informed about credit score changes and inquire about increases proactively.
• Adopt a consistent savings strategy to enhance perceived reliability to banks.
• Create and maintain an organized list of all active credit accounts.
• Build a routine around using and paying off credit cards to maximize benefits.
• Engage in credit education events or webinars to stay updated on strategies.
• Set a financial goal for credit scores and rewards to encourage discipline.
• Cultivate good communication with banks to enhance trust and opportunities.

FACTS:

• The dollar was taken off the gold standard in 1971, changing its backing structure.
• Credit card companies depend on user interest payments, which can be exceedingly high.
• Banks create money digitally, increasing the supply effectively at the push of a button.
• Building a robust credit profile can take a year but provides long-term access to capital.
• Credit utilization accounts for 30% of an individual's credit score in the scoring model.
• Upgrading hotel accommodations often comes from loyalty status tied to credit card use.
• Each new credit account positively impacts overall credit history if managed correctly.
• Proper management of multiple accounts helps in establishing a strong credit mix.
• Banks favor clients with active accounts for lending, aiding those with consistent usage.
• Interest-free credit cards can result in considerable cash flow advantages for business investment.

REFERENCES:

• TradelineGenie.com for borrowing credit history.
• Various banking institutions mentioned: Chase, Bank of America, and US Bank.
• American Express (AMEX) business cards for easier approvals.
• Navy Federal for pledge loans products.
• Specific business opportunities like Turo Automation and Airbnb Arbitrage discussed.
• Free guide provisions for following this credit-building system.

ONE-SENTENCE TAKEAWAY

To attain $100,000 in free capital, understand credit as borrowed time, cultivate relationships with banks, and leverage strategic opportunities.

RECOMMENDATIONS:

• Leverage your parents’ credit to boost your score early in your credit journey.
• Always express optimism in your business projections to facilitate bank approval chances.
• Establish solid relationships with bank representatives to aid credit applications.
• Regularly pay off your credit cards early to maintain good standing.
• Open multiple accounts for maintaining a diverse credit profile to enhance leveraging.
• Engage consistently with your accounts to build trust with banking institutions.
• Seek financial education to remain competitive in leveraging debt effectively.
• Apply for business credit only after establishing a positive personal credit file.
• Use profits from debt smartly to generate wealth rather than frivolous expenditures.
• Regularly evaluate your credit reports to identify areas needing improvement for future applications.