There’s a challenge in the real estate investment industry. There are many opportunities for real estate investors to buy inexpensive properties and fix them up and exit profitably… but they need something vital to make it happen. They need cash.

Real estate investing is a capital-intensive business because it requires tens of thousands of dollars up front in order to get started. You need to put some money down on the property, you need to fund repairs, you have carrying costs. Once you’ve covered all of those, you can sell the property (or rent it) and make a lot of money but it needs to have the cash up-front first.

Many brand new real estate investors make the mistake of using their own money to fund the deal. They use credit cards and they borrow against their mortgage. Unfortunately, those tactics have limitations:

* Credit cards have high interest rates and if a deal goes bad (and sometimes they do), the real estate investor may have a high amount of money to pay down on his or her credit card with exorbitant interest to pay, too. This can damage credit ratings!

* Borrowing against the mortgage is another way that real estate investors pay for their deals. Although the interest rate is lower, there is still substantial personal risk should the deal ever go south. The borrower could end up with their home repossessed.

Credit rating worries, high interest rates, and even the threat of eviction are all challenging problems that face the real estate investor using their own money.

But there are other options. Real estate investors need to apply the principle of “OPM” – “other peoples’ money” – in order to invest successfully. When they do that, they put other people’s money to work for them and they can get better rates of interest and they reduce their personal risk.

There are several ways to get access to other people’s money:

1. The real estate investor can contact his or her family or friends and ask them to invest. Sometimes this is a good idea, especially if the real estate investor has a successful track record and the know people with money. However, this can be risky because they could lose their friends or family should a deal ever bust.

2. The real estate investor can go to a lender – like a lending institution. A lending institution might lend them money or they might not, depending on the investor’s credit rating and how much risk the lending institution is willing to take on.

3. The real estate investor can find a group of investors – both individuals and corporations – who are willing to invest. This takes more leg work on the investor’s part but it can release a great deal of money to the real estate investor to invest. And there are many investors out there!

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It’s just a fact that more people today then ever before are being left licking their wounds with bad credit. It’s the recession/depression or whatever you want to call it. The real bad deal of it all, is that as soon as the economy turns around, you will be back in the game, so your bad credit rating will be a burden.

Only Scammers Will Claim They Can Erase a Bankruptcy

Don’t spend a dime on some service that tells you they can wholly restore your credit. Credit restoration isn’t for everyone and if you have a bankruptcy, it’s not going away for about seven years. Any “legit” bad credit on your report is there to stay.

The First Step

The first thing that you need to do is to get your hands on all your credit report from each of the three bureaus. As long as you don’t request the credit score, it’s free. Credit scores are about 8 bucks

Seven Years Past the Last “Action” On An Report

Keep in mind that bad credit other than bankruptcies and such can stay on your credit fro a period of seven years (past the last “action”) that was made on the account. See? Seven years after your last payment on that account, not seven years after the negative report placed on it.

Credit Reporting Errors are Extremely Common

The days when credit bureaus can get away with a mistake on your credit report are lost and gone. Learn the simple methods to challenge negative marks and use them if you come across any mistakes like that. Really! Credit reporting mistakes are no stranger to many.

Credit Cards – Both Good and Bad

After all, after you have done everything you can in these areas, credit repair comes down to building new credit to replace any bad credit you have. Credit cards are a good and bad sword. They are great for building good credit but in the used wrong, they can also quickly kill a persons credit.

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The simple truth is, the amount of marriages that end up in divorce is a dispiriting statistic. Far too many persons go through these painful breakups. As one goes through a split not only is there the emotional sting but all too often it negatively affects their finances also.

Far too frequently these days, a individual who has been a dependable and conscientious credit risk for many years ends up with vast problems on their credit following a divorce. One of the main causes of problem credit for many people is divorce.

As an person who is married you are often treated as likewise liable for repayment on loans like car payments, credit cards and home mortgages. As you divorce the court assigns responsibility for the debt to just one party. But even though this is a decree from a court of law it is typically unobserved and unnoticed by creditors, especially if the loan goes delinquent.

You must know that a credit report will not reflect a decree of divorce. If a payment is missed by the responsible spouse the creditors can and will try to collect from the other party. Not only that but they will recount the delinquency on both spouses credit reports. If your ex-spouse is accountable but doesn’t pay, you will be held responsible.

Since you have separate households and you are no longer getting mail or notices at the same address, you may not even be aware that there is a problem with the old debts until it is too late and it is already reported on your credit.

If the liable party decides to stop paying on the loan totally and file bankruptcy the other spouse can be held legally responsible for the entire obligation counting late charges. As for the creditor, the court order is immaterial. The other spouse is their only remaining alternative to collect on the loan and they will go after that person.

It is disappointing but at this time the credit system is exceedingly inequitable to the parties of a divorce. Often the only way to finally finalize a divorce is to declare bankruptcy. This is very disastrous if there is one party who strives to be reliable and badly wants to keep a clean credit record.

Going through a divorce is just one illustration of why it is so vital that we have the right to repair our credit. Any item on a credit report, counting a bankruptcy can be disputed if you will that it is inaccurate, misleading, incomplete, untimely, ambiguous, biased, unverifiable or unclear.

There’s a lot of variables that could contribute to raise your credit score quickly although to fix my credit may also help bring it back.

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Here are the steps you need to clean up your credit. Print out a copy of this to track your progress and keep a copy for your records.

Review and print out a free copy of your credit reports from www.annualcreditreport.com. They’ll ask you about your prior addresses and items that may appear on your credit record to verify your identity. Also, you’ll be directed to each of the 3 reporting agencies independently from that site. Once you access your reports, you’ll have 30 days to log back in to see the same report. If you want a refreshed copy, you’ll need to pay for it.

On your copy, mark any negative entries that should be removed. Every creditor is different and may not report to all three agencies. Look at each report for differences. If you do have items removed, the agency is required to notify the others so they can remove it too.

Write a letter explaining why each of those negative items should not be on your report. Additionally, if you have an account that’s in good standing that’s not listed, you can have them add that. You’ll need verification and it might be easier to ask your creditor to report it directly.

As you list items to dispute, include all the info they have listed so there’s no question regarding which account you’re disputing. Tell them exactly why you’re disputing it. If you’re just not sure about it, you can say you don’t recall having that account. If you do remember it and realize it’s valid, the best you can do is negotiate with the creditor that put it there. Most larger creditors have staff dedicated to verifying accounts so don’t list things just because you think they won’t have time to respond.

The items you must include are your full name with middle name and suffix, current and past mailing addresses for the past two years, social security number, and date of birth.

You must also include a copy of a government issued ID AND a copy of a utility bill, insurance or bank statement. Verification that’s NOT valid: credit card statements, voided checks, lease agreements, magazine subscriptions, or post office forwarding orders. These documents only will work. Otherwise the agencies will send you a letter saying you didn’t include enough information to identify yourself.

Send your letter USPS certified mail. If you don’t, you run the risk of them “losing” your letter and you having no way to verify you sent it.

Check the tracking you got on the certified letter. They are required to investigate within 30 days. You should hear back from them shortly after that.

That’s it. You can now take steps to start building better credit.

Fix bad credit! Do your own credit history repair without an agency. Visit www.creditrepairsecrets.org for free credit help.