Realty411 Magazine Featuring Scott Meyers

LINDA'S LETTER This is a fantastic way for adventurous individuals who can buy neglected shacks for cash (money talks) and turn them into spectacular homes for substantial taxfree profits... Wow! Do we live in the best country the world or what? The possibilities to make money in real estate are truly endless. The best part of all? They are sanctioned by Uncle Sam! The way I see it, it's our patriotic duty to take advantage of all these phenomenal opportunities given to us. It's noble to want to improve neighborhoods and provide safe, affordable housing to hardworking people, and the rewards can be substantial. Many of our tenants are in the military, as we have specifically purchased near our local air force base to provide quality housing to our amazing troops. What an honor for us to be able to do this! Folks, I implore you to take advantage of all these wonderful opportunities given to us. Our system is designed for real estate investors to succeed, but YOU need to take ACTION. When I wonder why people don't buy a rental property or invest in a building for their own business, three big C's come to mind. "The possibilities for selfeducation are endless." These three crucial C's are the basic tenets that every investor needs in order to be successful. 1. Credit 2. Capital 3. Confidence CREDIT Let's start with credit. The importance of maintaining an optimum credit score cannot be emphasized enough. Your credit score is the blueprint of your life, literally! Skipped out on that last car lease payment and thought nobody would realize? Wrong, it's there! Paid the mortgage late five months in a row? Oops, there goes a 50point drop! Often the reason a credit score goes south is due to overspending and other bad habits, such as not being diligent in paying bills on time or perhaps only paying minimum payments. Honestly, we've gone through this a time or two, maybe three, oops. I'm human, my husband is too. 15 We all are. Who hasn't overdone it with credit cards at one time or another? But we learned, the hard way, that this bad habit restricts progress in portfoliobuilding. Be careful with credit. Your credit score should be the easiest thing to maintain because YOU have TOTAL control over it. Don't blame your parents for that lowball 620 score that's ALL YOU. It's wise to take responsibility and face those bill head on. Make that extra effort to stay on a budget and to set a day aside each week to pay bills and monitor the money. Guard you credit score carefully because these numbers are crucial to your career in real estate investing. One way to get around this is to partner with someone who has credit; however you will be expected to provide something else, like capital, labor and/or knowledge. I always strive for independence as an investor, so I urge each person to pay close attention to their own credit.

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