Credit Score Problem: What is the Big Credit Dilemma?
Let’s talk about a major credit score problem and how it impacts cash flow.
Every day, we hear about common roadblocks that prevent our real estate investors from making the kind of positive cash flow they need.
Today, we’re going to explore the number one roadblock that we hear about from clients:
A low credit score caused mainly by high credit card balances. Because the lower your credit score, the higher your rate and the fewer loan options you have available.
But, here’s the kicker: You need a loan to pay off your credit cards to raise your score.
Not only that, but a higher interest rate might kick you over the allowed debt-to-income ratio and prevent you from getting approved for a loan.
How do you win at this game? The deck is stacked against you.
It’s okay. Really!
We’ve seen this problem a hundred times in our business because every real estate investor uses their credit to finish renovating a value-add property or run a business. It’s a cycle that’s downright hard to get out of.
Our solution? Take it private.
Like the many other clients we’ve helped, we can help you fix your credit score problem by setting up a private loan. That way you can:
- Pay off your credit cards
- Raise your score
- And get the loan and rate you need.
Once you do all of that, you can pay off your private loan and resume normal business with the best loan you can get. Signed, sealed, and delivered.
We also can help you build your business credit and take your credit cards completely off your score.
Either way, this little trick can help you and thousands of others get better rates, pay less to the banks, and make life more profitable.