for real estate investor is to not use any of their own money at all! The seasoned investors tend to pride themselves on this strategy at times! This works to every investor’s advantage — those without the funds can still get in the game, (like I did) and people who’ve been playing for a while can use other people’s money as a way to invest more, which leads to increased income and scaled portfolios! Leverage baby!! It can be a beautiful thing!
Does Credit Score Matter?
Yes, and No...It’s to your advantage to have a high credit score, but is it 100% necessary to get started?? No. So, why does credit score matter in this business? First, you’ll get more access to working capital with a higher score. You’ll also be able to qualify for lower interest rates if you do take out mortgages or loans from a bank, which can lead to significant savings versus people with “so-so” or low scores. If you are sitting there thinking "I don't have a high credit score..." that's okay! Reach out to me and let me introduce you to someone who can help. Working with the right mortgage lender is key in my opinion. Sometimes all you need to do is pay off a small credit card, or pay it down to a certain utilization rate in order to raise your score! Don't get discouraged here, instead, reach out to someone who can give you some guidance and help you make a plan to get your credit score where it needs to be. I can point you in the right direction here!!
WHERE TO GET MONEY
Investing without Your Own Money
The first and most common option is hard (i.e., private) money lenders. In this case, individual people or businesses loan you money as an investment for themselves. They make money
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