If you ever want to borrow money – whether for an emergency or to make an investment – you’ve got to have a good credit score. It will make the borrowing process ten times easier and more importantly, it will get you a lower interest rate on your loan. In the end, it will put more money in your pocket (and not the bank’s). Whether you’re just starting to build your credit or need to increase your credit score, here are some quick and easy fixes that could make a huge difference:
Related post: How to Buy Your First Investment Property
A big part of me loves investing in real estate and it’s a big part of my plan for the future. Yet, for some reason this was still one of the easiest posts I’ve ever written…because the truth is, I lose soooo much sleep over some of the worries that come with this type of investing (at least for buy and hold real estate investing). It is not an easy thing to do and it is TOUGH work. And not just the getting-your-hands-dirty kind of work (though it certainly can be that), but the dreadful how-the-heck-am-I-going-to-fix-this kind of work. The kind of thing you think about all day and lose tons of sleep over. And until you’ve really hit it big, it’s hard to tell if you’re even doing things right.
So before you jump head first into your first property (which I still hope you will consider!), make sure to read this carefully because real estate investing is not as glamorous as you think and it’s definitely not for everyone!
Investing in real estate is an amazing way to diversify your portfolio and ironically it is much easier than most people think. In this day and age it can be nearly impossible to build wealth from a paycheck alone, so most of us need to think outside of the (career) box if we really want to live the comfortable lifestyle that we all dream of.
My husband and I purchased our first investment property 3 years ago and it was one of the best decisions we ever made.
We rarely even think about it nowadays, yet it is still making money for us behind the scenes. We aren’t handy-types or real estate experts, yet it still was a great investment choice. I
t is honestly something that anyone can do, as long as you make smart decisions in the beginning.
So here’s what we did to buy our first investment property: