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Updated almost 6 years ago,

User Stats

17
Posts
0
Votes
Zach Barber
  • Rental Property Investor
  • Bettendorf, IA
0
Votes |
17
Posts

How to overcome Credit Check impacts

Zach Barber
  • Rental Property Investor
  • Bettendorf, IA
Posted

Im 21 and don’t have a very long credit history to begin with. I got started with real estate about two years ago. Since then I’ve bought one duplex, I bought my own house and also applied for multiple credit cards (which were accepted) and a line of credit with my bank. It just seems like every time I make a step ahead with either buying a new property or increasing my lines of credit, my credit gets dinged and I lose points.

My question is, how do investors that by multiple properties every year keep their credit score high enough to qualify for loans. I’m also looking to refinance my rental property that I fixed up and pull some of that money out for another deal but my credit is low and I’ll get a much higher Interest rate than I originally had and that inquiry will also pull my credit down a few more points.. which with affect me when I go to buy the next property. I’m wondering how to avoid getting those negative impacts every time you want to make a move In real estate?

Any help is greatly appreciated!!

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