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Post by Elle on Aug 26, 2005 2:10:47 GMT -5
Actually, Joes got a point. There are many ways of masking your credit history.
I've emailed you my advice.
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blackhatpi
Piciotto
"Providing PI/Spy Services At Its Best"
Posts: 76
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Post by blackhatpi on Aug 26, 2005 4:59:47 GMT -5
Also..... Your FICO score (Credit Score) is extremely important when dealing with R.E. on a "Legit" basis. Higher your score, the lower your interest rates can be. Please remember, If a lack of funds is the issue, you could "pool" other investors with the same interest as yourself regarding your investment that you may have in mind.... As long long that the terms of your investment is good. Remember I'm speaking on behalf of the legit RE. Some R.E. investors likes to "Flip" properties as well. I don't recomend "Realtors" to be involved in "Flip" transactions. You deal with homes that needs rehab and providing that the subject property that needs rehab is a "FSBO". (For Sale By Owner) I use Realtors when you buy, fix, resell. I tell My Culoociates not to hold a property for more than 3 months. If you think a subject property needs more than 30,000 in rehab, find another piece of property instead. Can you get around the credit issue in any way? Thats a easy one: Sure you can, do what I do... I just can't say it here. This "thing of ours" has it privileges, benefits & perks. Its a hell of alot easier however......
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Post by Elle on Aug 26, 2005 15:44:40 GMT -5
Easier in those areas yeah, others...not so much.
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blackhatpi
Piciotto
"Providing PI/Spy Services At Its Best"
Posts: 76
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Post by blackhatpi on Aug 27, 2005 5:06:17 GMT -5
Easier in those areas yeah, others...not so much. I see it this way, on the legit spectrum, if your low on funds, in debt and the fico score is too low, start pooling other investors with the same interest as yourself. start small. Residental properties. Build your credit score. Its the only way. You could "Bird Dog" for other investors as well and get involved in the transaction. Its a start...... Also, some states will allow you to "Flip" properties to other investors. All you do is: Find a property that needs rehab. Like around 15 grand or less. Deal with FSBO's only for now. Tie it under contract and include the clause: "And Or Assigns" in it. Include a 100.00 good faith deposit to them to show that your serious. Get the contract signed and find yourself an investor to buy it. Thats not difficult once you get the hang of it. Assign it for 1,000.00 or more (pending on the profit margin to the other investor) to the other investor. Then perform a double closing. It Works......
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Post by Elle on Aug 27, 2005 19:48:09 GMT -5
Makes sense-but of course you have more experience in this field than I do...respect.
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Post by coletti on Aug 27, 2005 21:33:14 GMT -5
Here is how I see it, you want a loan dont do it through major banks. Or if you want to do it another way, take it out through the goverment. The goverment helps out those without alot of money, "Protecting The Rights Of The Minorities" and by doing that it will help grow the states economy while you pay back yours truly Uncle Sam, with interests. Credit is not something that should ruin your life, letting it hold you behinf because you choose to is what will hold you behind.
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blackhatpi
Piciotto
"Providing PI/Spy Services At Its Best"
Posts: 76
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Post by blackhatpi on Aug 28, 2005 15:26:00 GMT -5
Makes sense-but of course you have more experience in this field than I do...respect. REMEMBER: If you can say that you can..... OR, If you can say that you can't..... Either way you are "both right"..... You can do it if you put your mind to it.... I am where I am today because I did "whatever it took". Just like what your doing. If you need any "legit" help. Let me know. There is no price to pay for that....
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blackhatpi
Piciotto
"Providing PI/Spy Services At Its Best"
Posts: 76
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Post by blackhatpi on Aug 28, 2005 15:28:42 GMT -5
Here is how I see it, you want a loan dont do it through major banks. Or if you want to do it another way, take it out through the goverment. The goverment helps out those without alot of money, "Protecting The Rights Of The Minorities" and by doing that it will help grow the states economy while you pay back yours truly Uncle Sam, with interests. Credit is not something that should ruin your life, letting it hold you behinf because you choose to is what will hold you behind. That works great if your an minority. If not.... Its not as easy. Uncle sam will not loan if you do not have a RE investing business plan. Very important.....
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Post by Elle on Aug 28, 2005 20:38:37 GMT -5
Makes sense-but of course you have more experience in this field than I do...respect. REMEMBER: If you can say that you can..... OR, If you can say that you can't..... Either way you are "both right"..... You can do it if you put your mind to it.... I am where I am today because I did "whatever it took". Just like what your doing. If you need any "legit" help. Let me know. There is no price to pay for that.... Well thanks Mr motivation :-) I was just saying that I might need to learn a little bit more about our conversation before I get into any more advise giving. Legit wise-that is.
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blackhatpi
Piciotto
"Providing PI/Spy Services At Its Best"
Posts: 76
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Post by blackhatpi on Aug 29, 2005 5:20:27 GMT -5
REMEMBER: If you can say that you can..... OR, If you can say that you can't..... Either way you are "both right"..... You can do it if you put your mind to it.... I am where I am today because I did "whatever it took". Just like what your doing. If you need any "legit" help. Let me know. There is no price to pay for that.... Well thanks Mr motivation :-) I was just saying that I might need to learn a little bit more about our conversation before I get into any more advise giving. Legit wise-that is. No problem... In my opinion, you should get the experience in the residential market first. Either 1 family home or multi. Do me a favor, check out these sites. TRUST ME, You'll thank me later..... 1. www.creonline.com/2. www.reiclub.com/3. www.camerondirect.com/4. www.narei.com/home.html5. jmichaelrei.com/html/join_stealth_rei_club.htmlAnd remember, "Don't Buy Anything" on these sites. Lots of free legit info. This goes for anyone here.... If you have a question, please let me know.
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Post by Elle on Aug 29, 2005 20:24:01 GMT -5
Thanks BH-I'll do some site searching tonight :-)
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Post by Elle on Mar 28, 2006 1:47:56 GMT -5
I'm now well into residential investments at the moment~ Just to recap my situation if your still out there BH. I've also undertaken a strong interest in Commercial properties, if anyone would like to comment please do so.
I will have an update on an investment market or perhaps some small investment advice within the week.
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