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Updated over 9 years ago on . Most recent reply

User Stats

36
Posts
1
Votes
Brandon O.
  • Real Estate Investor
  • Evergreen park, IL
1
Votes |
36
Posts

Credit trade lines

Brandon O.
  • Real Estate Investor
  • Evergreen park, IL
Posted

BP family, does anyone have experioce with credit trade lines? I'm looking to purchase a few to improve my credit score so I can acquire a few rental properties. Any guidance given is appreciated

Most Popular Reply

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4,411
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2,887
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Bill S.
  • Rental Property Investor
  • Denver, CO
2,887
Votes |
4,411
Posts
Bill S.
  • Rental Property Investor
  • Denver, CO
ModeratorReplied

@Brandon O. smells fishy to me. Paying money for credit is typically not a wise thing. If you have a deal, get hard money (money is based on the property not your credit). If you don't have a deal, you don't need the money so work on improving your own credit (pay bills on time, etc). Use your extra money (money you would be paying for renting someone else's credit) to do your own marketing for deals. 

It takes time to build good credit and the system is setup to be that way. It is also set up to prevent folks from taking short cuts. I'm sure there are some smart people out there that can figure ways around the system. Sounds like they are selling something, so buyer beware.

  • Bill S.
  • Loading replies...