11/27/11: The Real World of Credit – Improve Your Credit Score Fast

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When it comes to conventional mortgage money, your three digit credit score is very important.  Since most people start their investing careers with residential 1-4 unit properties, we consider your credit score to be worthy of proper care and feeding.

It’s been a while since we covered this topic and a lot has changed in the world of credit and lending, so we decided to dedicate this episode to the brave new world of credit, credit repair and what you can do it improve your credit score.

In the studio looking for more credit than they deserve:

  • That beacon of broadcast excellence, your host Robert Helms
  • Your scoreless co-host, Russell Gray
  • Credit expert and author, “The Credit Guy”, Wayne Sanford

According to our special guest Wayne Sanford, there are two worlds of credit scoring:  the “perfect” world where everything is accurate, up to date and fair; and the “real” world where credit reports are littered with mistakes, scores take weeks and sometimes months to update, and a system that is rigged against investors.  Guess which world we live in?

The good news is that even though the system is far from perfect, when you’ve reviewed 11,000 credit reports like Wayne has, you begin to recognize real world trends and can implement techniques which actually can improve you score.
Now before you tune out, there are some things you should know.

First, it isn’t expensive or difficult to stay on top of your credit score.  But you do need to know what you’re doing.  Wayne will give you some tips in this episode.  If you listen all the way through, you’ll find out how you can get a free report on how you add a quick 15 points (or more) to your credit score at those times when you them the most.

Next, while it’s a hassle to babysit your credit score, it can be really expensive if you don’t.  The good news is that once you master a few basic principles and use a little discipline, you can keep your score in pretty good shape year round.

Then, once you understand that your credit score is a numerical “snap shot” of your credit profile at a particular point in time, you’ll discover with the right knowledge and foresight, you can pretty up your score and have it ready to smile for the camera when it’s picture time.

Having a pretty credit score at critical junctures (like when you’re locking in your interest rate on a rental property for the next 30 years) can save you many tens of thousands of dollars…or more!

Credit score management isn’t just repairing bad credit or avoiding identity theft.  It’s about leveraging one of your essential financial resources for optimal return on investment.  And like a piece of equipment, if you take it out and work with it, it’s going to get dinged up and need attention.  But the better you care for it, the more you can use it to make money.

So listen in as Wayne “The Credit Guy” Sanford talks credit, credit repair and what you can do to improve your credit score now and every time you really need it.

The Real Estate Guys™ radio show and podcast provides real estate investing news, education, training and resources to helps real estate investors succeed.