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Updated about 14 years ago on . Most recent reply

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Credit sucks and I want to be a real estate guru.

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Posted

Hello All and Happy New Year.
I am pumped for the new year for so many reasons. I am really desirous of becoming a real estate investing guru but I need some direction. I have read all the books Russ Whitney, Robert Kiyosaki, Robert Allen, etc., however I feel a little unsure considering that I own a part time tree business and haven't worked a nine to five for about 2 years. My records from the business a little shabby to say the least but I have everything in order for the upcoming year so next year I'll look like a pro however, I want to do deals w/ other peoples money!!!!!! I don't want an easy way just some direction on how to make it happen for me. I am looking at a 7 unit apartment house that they are asking 30K for . I can come up with about 2K cash but what does that mean to a lender? Please help me and I am open to whatever good advice you may have.
Thanks and God speed.
therichest1ec

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Michael Rossi
  • Real Estate Investor
  • Ohio
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Michael Rossi
  • Real Estate Investor
  • Ohio
Replied

The truth is that you won't get far in this business unless you get your credit straightened out. Your Credit is a measure of your financial trustworthiness. My suggestion is to work HARD to pay your bills and improve your credit. There are 168 hours in a week. That is plenty of time to work 2 full time jobs and still have over half of the week left for sleeping.

Good Luck,

Mike

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