quick question about RE and credit. - Posted by Jeryl

Posted by Dave from Mi. on March 13, 1999 at 21:23:02:


quick question about RE and credit. - Posted by Jeryl

Posted by Jeryl on March 11, 1999 at 22:38:06:

I’m still very new to this RE game. I have the CS course and checked out some books about RE, i read almost all the success stories articles, i am wondering however and this might be a stupid question my credit is bad i owe a credit card company about 1k, does anyone konw a good way to rebuild my credit after i pay off the credit card company? and is it impossible with this debt to the company to buy RE?


Re: quick question about RE and credit. - Posted by Bill Gatten

Posted by Bill Gatten on March 12, 1999 at 19:45:10:

I love 'em when they’re babies!

YES! YES! In the Untied Snakes of America, you can not only become a millionaire with no money and bad credit, you can use it as a sales tool when you start doing your own success seminars. “Look’a me (the feller says), 20 years ago, I was a drunken derelict, washing dishes in my bath tub in my one bedroom apartment, feeling sorry for myself, head over heels in debt, a wart on my knee and not a penny to my name… then I found a nickle in the gutter and bought a used Foreclosure List… and now… check out my new Rolls Royce, my Rolex and my Roller Ball Montblanc!”

What continues to amaze me is how people insist on tying “credit” to financial ability and personal success. The concept of credit, credit cards and mortgages are all recent inventions designed to enrich the banks. I’m certainly not a role-model by anyone’s standards; but I don’t use credit. I’ve bought dozens of properties without a dime out of pocket and made hundreds of thousand on them over the years. I just closed a deal on a $400K+ house, and I’m taking possession next week for just the costs of my first monthly payment: nary a request for my credit report or financial statement (the seller carrying the loan for me is over-the-barrel and scared to death I’ll ask for HIS credit references).

A thousand dollars in debt?? My Gawd Jeryl… you are what we call squeaky clean in my neighborhood!

JUST GO DO IT! But begin by using a capital letter for the personal pronoun, “I,” you deserve it… that’ll be a good start.


Re: quick question about RE and credit. - Posted by Jim IL

Posted by Jim IL on March 12, 1999 at 24:24:12:

You have the CS course, and in it he gives you a GREAT credit rebuilding program. Maybe your just not to it yet. Do what CS says, it works. I am now doing the things he suggests and still making offers, at the same time. Credit is not needed to do REI, butit sure can make it easier.
Keep reading, you’ll find it,