19 | Your Personal Seller and Lender Credibility Kit… Why You Need To Have One

What exactly is a credibility kit?

Why do you need a credibility kit?

These are the questions I hear most often from students when I am at real estate events.
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31 | Small Businesses And Business Credit

Small businesses are the major driving forces in our economy. So why then do 50 % of small businesses fail in their first year, and 95% by their fifth year? The answer is simple: they run out of MONEY!

Dun and Bradstreet, where lenders turn when deciding how much credit they are willing to give you for your business, compiled these most frequently asked questions about the important subject of business credit.
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29 | Where To Get The Money… Even If You Are Bankrupt And Broke

When I started investing in real estate in 1982, I thought you had to have money. I was working a job and was broke. Since then, I have learned that you don’t need money, credit, or a steady job to do this type of investing. Of course, having a little cash wouldn’t hurt, but I know some of my readers don’t have any I so this article is for you. Mortgage Brokers and Short Term Money. more…

09 | Personal Credit vs. Business Credit

“It’s not what you don’t know that will hurt you. It is what you don’t know that you don’t know which will.”

Please be advised that I am not an Accountant or Attorney – so prior to acting on any of the information presented in this article, be certain to contact a Tax and Law professional to get legal advice specific to your situation.

Most people are pretty familiar with Personal Credit and what they need to do in order to maintain a good FICO Credit Score. Actions such as low revolving balances, always making payments on time, using different types of credit, and length of credit history all play a major rule in determining an individual’s Personal Credit worthiness.

If dealt with properly, leveraging Personal Credit can be very useful in further advancing an individual’s net worth by wisely investing the borrowed money.

Did you know that just as there is Personal Credit, there is also Business Credit?
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08 | Attention Real Estate Investors: 7 Reasons Why You Must Have Business Credit If You Truly Desire To Be Successful

Are you clueless about business credit? Would you like to know what business credit can do for you? Then you better read this article word for word because what you don’t know could actually be costing you.

Having a bankroll of credit for your business not only gives you a HUGE advantage over your competition, but it protects you and your family from danger. Here are just 7 of the top reasons to consider business credit:

1. You’ Are Less Likely To Fail – According to the Small Business Administration, 50% of businesses fail in the first year and by the fifth year 95% of businesses will ‘bite the dust’. The #1 reason for their failure is lack of financing!

2. EXPLOSIVE Amounts of Money When You Need It Most – When you buy houses with personal credit, there comes a point when you get tapped out. The banks stop lending to you, your personal credit score starts dropping and eventually your interest rates will climb, costing you money. With business credit, you can get access to much more money because your corporation is going after it. Here’s the best part. You can have multiple corporations and establish credit for each one, unlike personal credit obtained using a single social security number!

3. Ultimate Leverage – Real Estate is all about leveraging other people’s money, not yours. No money down, right? With business credit, you aren’t putting up your own money. You’re having your corporation front the money.
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04 | What can you do to improve your Personal Credit Rating?

Anyone going through this process needs to have an updated copy of their credit report with their current credit score, but you really want to get your credit scores, not just your credit report. Credit reports show your file, but do not compile your score for you.

I recommend www.truecredit.com. For between $9.95 and $14.95 you get scores from the main credit bureaus: Trans Union, Equifax and Experian. These scores’ average determines your FICO score–the ultimate determinant of your personal creditworthiness. more…

02 | How is your business credit used by other businesses?

How is your business credit used by other businesses?

Companies rely on your business creditworthiness to make critical decisions, including whether:

• to sell to you
• to lend you money more…