It this realistic? - Posted by Shawn

Posted by Bruce A Barilar on July 11, 2002 at 22:24:15:

Shawn, It is simple, go to his next workshop.

It this realistic? - Posted by Shawn

Posted by Shawn on July 11, 2002 at 17:05:01:

I was wondering that if I am just starting out if it is realistic to be able to get a credit line at a bank with a good business plan but a FICA score of 643.

Also, I would also like to know how to get information on Ed Garcias killer business plans that everybody is talking about. The only info I have been able to find is on the last workshop that he put on in June.

Thanks to everbody and Happy investing

Re: It this realistic? - Posted by Annie Pierce

Posted by Annie Pierce on July 14, 2002 at 02:45:45:

Shawn, With your credit score, you should be able to start buidling your real estate empire with your first purchase by obtaning a real estate loan. A year ago, before I owned any property, my credit score was the same as yours. In May 2001 I purchased a condo and immediately put it into a Mortgage Wrap which produced a profit from the down payment and a monthly cash flow of $384. Since that date I have purchased five more properties, and am currently in escrow to purchase two vacant lots for building two new homes.

What’s interesting is that earlier this year I was told by two banks that my credit was not good enough to get a credit line, so I’ll continue my acquisitions… one loan at a time. Remember, there’s always more than one way to achieve your goal. Keep an open mind.