One of the most common problems that I've noticed in people looking to begin a career in Real Estate investing is bad credit. Somewhere along the line, many people have fallen rather short of perfect payment history, and ultimately that 720 FICO we all hear so much about. Luckily we live in the greatest country on earth where there are a slew of companies to provide a service for virtually every basic need imaginable for us not only as humans, but as entreprenuers as well. Believe me I know the feeling of having bad credit, or how about NO credit. When I began in this business I'd yet to have established any credit at all. Try that on for size..No money, No credit score, No Payment history. Yep, it's true. I began in this business early..Ok very early. At 17 I spent my summers calling "We Buy Houses" ads to sell whole sale leads. Mortgage companies would be on the edge of anger and laughter when they pulled my credit and saw that it was absolutely blank! But I've come a long way from those days, and quite a way from that wonderful Triple Zero FICO score that loan officers couldn't get enough of :).. I stumbled across a company Seasoned Trade Lines They have programs suited for people who need just a bit of a boost, all the way up to people like me who need a complete revamp.The way it works is, they place you [As an Authorized User] on 1 or more revolving accounts with high, aged credit lines and perfect payment history.. They hold the card for you so you never even have the opportunity (or the urge) to wreck the whole thing :)..Its win-win! They have rather reasonable prices ranging from $1000 to $3000. It's really a small price to pay for the service that they provide. They brought me from my triple zero to a 740 in under 90 Days. So that gives you an idea of the power of these Revolving Accounts. Could you do the same thing by becoming an Authorized User on a friend or relative's account? Yeah sure, if you know someone with perfect history and high, aged credit lines then go for it. But you'll probably soon find out that most people who have these types of scores from the traditional debt and payoff method, are rather..protective of their high standing.
