Are you getting the best financing terms for your fix & flip/hold and ground-up construction projects?Increase your bottom line (by reducing your cost of capital) with a higher credit score!On this episode of the Optimized Real Estate Podcast, my quest Sandra Ruiz of Fix Your Credit Consulting shares some of her top strategies for quickly and easily increasing your credit score, including…
- Don't close accounts
- New accounts take a couple/few months to make an impact
- Use each card every couple months - don't go 6 months with no use
- Use max of 30% of available credit
- No Amex cards - they don't show credit limit
- Request balance increases often
- Send deletion letters - inquiries from creditors you don't use can be removed (inquiries stay on credit for 2yrs)
- Be added to friends/family CC's to boost credit (as long as they pay their bills and don't use over 30% of available credit!)
- Use Rapid Rescore with your lenders
- Add rental payments to credit bureaus
- Add your kids (starting in High School) to your CC's to establish/increase their credit score
- Don't ever co-sign on a loan (unless you have to)
- Considering a Bankruptcy - look at other options, negotiate, reduce payoffs, pay plans… otherwise in credit jail for 10yrs
- Inquiries stay on for 2yrs and cost 2-4pts in score each
- Soft pulls are OK - no impact to credit score
- Use a secured credit card to develop new credit
Reach out to Sandra for a Free Consultation (she only takes on clients if she can deliver results!)…
Sandra Ruiz
877-212-2450
contact@fixyourcreditconsulting.com
www.fixyourcreditconsulting.com
See Results in as little as 30-90 days
Most clients work with Sandra/FYCC for ~6 months
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