Newbie: What credit score do you need to flip houses?

[Gabe Mercer]

Hey, I'm only a week into learning about REI and I have been actively reading BP to find out as much as I can about investing, particularly about flipping properties. I've seen several questions/answers by other members regarding almost every topic imaginable, though I have not seen anyone discuss the value of credit in the REI process. I'm asking because I could attain as much knowledge as possible, follow all the steps to flip a home but if I can't get financing then it's all pointless. I am 23 and right now I'm in the stages of building up my credit. My question is: what type of credit score would an investor need to qualify for a loan with a bank? Any other comments relating credit and REI would be much appreciated!

[Char Prado]

Hi Gabe, Welcome!

Have you heard of "Creative Financing" using OPM Other Peoples Money? If you learn the basics then you will never want to use your own money/credit. You can Join your local REIA, Network, Joint Venture with others, If you know family & friends willing to use some of their IRA/401K.

You've mentioned "reading" peoples post have you listened to the Podcasts here..they cover everything about REI and they last about 1 hour give or take a few minutes.

For your personal life I would urge you to pursue improving your credit.