MIN CREDIT SCORE FOR REAL ESTATE INVESTORS

[Audrey Truesdale]

Hey Guys I was curious if anyone had a ballpark minimum credit score for Real Estate Investing. I am in the process of rebuilding my credit and wanted to know what score to aim for while re-building my credit. Also what are some suggestions for do this I have heard a secured credit card is the way to go any other thoughts would be much appreciated.

[George Paiva]

I just went through a what if scenario with my local bank on how much personally I can borrow. I was surprised I was only able to borrow about $180k, mind you median housing around here is like $300k. I have 800 credit score average among all three.

I think I am going to stick with commercial financing as I have been doing because I can borrow a lot more than that but of course the properties comes under some scrutiny (Appraisal, LTV, DTI) but that is fine as I only lock into cash flow positive properties.

Clean up your debt and I am sure you can get your number up a bit.