Sunny days ahead

Helping you decide if investing in real estate is right for you…(hint: It is!)

Credit Scores

Improve Your Credit Score in minutes!

 

In preparation for you real estate purchases, you must do everything in your power to improve your credit worthiness.  Some tips on how to do this include the following:

 

· Know your credit score!  I can’s stress enough how important this is.  You must know your credit score, and as equally important, know what’s on your credit report.  It’s usually a very good idea to have a credit monitoring service keep track of changes in your credit report for you.  Services like CreditExpert from Experian will even provide you with a free monthly credit report and online dispute resolution for free when you sign up for their monitoring service.  This also helps in the early detection or identity theft.

 

· Increase the limits on your credit cards but stay well bellow the limit.  Banks want to see that you have lots of credit but don’t use it.  Increasing your credit limits on your credit accounts will improve your score in literally minutes! (If only flipping a house were as quick.)

 

· Write credit reporting agencies and companies responsible for submitting your delinquencies to dispute negative aspects of your credit report.  Write a letter and explain why something should be removed.  Sometimes that’s all it takes.

 

· Pay your bills on time! 

 

· Finally, use debt responsibly.  Don’t get behind.  Pay off your credit cards monthly. 

 

All of these things will improve your credit score drastically and set you up for obtaining some great financing terms from residential and commercial lenders. Let the real estate investing begin!

Know Your Credit Score!

Tips on Raising your FICO credit score