Hi everyone - I’m a student looking to start investing towards the end of this summer. I just finished paying off my last outstanding debt this weekend and I only have a part time job, but I have access to about $30k to start investing with. Is there any way for me to use this money to rebuild my credit score, aside from just getting secured credit cards and waiting forever?
You don’t really need Credit to buy Real Estate, you just need to be creative. There are many books out there that you can read to give you a few ideas.
Check out Robert Allens “No Money down for 2000”
That one is pretty basic. But you can also check out all the Sub 2 books and lease with option, and land contract stuff that is out there.
I will say, while you are building your Real Estate business thru the no money down process ie…no bank financing you may want to work on those secured credit cards. It does not take long to fix your credit, it just takes extreme discipline.
I hope this helps and good luck to you.
Go to the bank and talk to the branch manager. tell him/her what you want to do. They will probably have you buy a CD and borrow against it. One for $5000 should do it. Still go ahead and get a credit card. ask for as high a limit as you can get. Keep the balance as low as possible. The % of the limit that you are using means a lot on your score. Always, always pay your bills on time.
In RealEstate , Cash is King. Your good credit is next. It is cheaper, a lot cheaper than hard money.
;D
Wishing you success
Bruce
I have a great program for you. You will receive 25% ROI in 45 days. 90% of the money is secure in Escrow .
WLEESUCCESS…What a joke…
I am waiting for the punch line :deal: