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Tuesday, May 29, 2007

The time has come to talk about your credit score...

Over the past week I have had a few inquiries from friends and clients asking about credit and credit scores. My answer is always....where do I begin? Nothing can cost or save you more than a well established credit history! I have a feeling this post will be multi-faceted and will be completed over a the next few days.

The best way to start talking about credit is to pull a report for yourself...AND THEN we take a look and see where you stand. The only real website that allows a person to check their own credit history is www.annualcreditreport.com. On that site you can pull your own credit score once annually for free. On a positive note, it will not negatively affect your rating as it does when a broker or bank may pull your credit. On the downside, this site will not show you a numerical score when you pull the report unless you pay $7 per bureau...it will only let you view your history from each of the three credit reporting bureaus (Experian, Trans Union and Equifax).

The wisest thing to do in order to build your credit worthiness as a young adult is to realize quickly that credit can not be earned in a day! In order to apply for debt, you must prove that you can manage debt. During your college years the easiest way to quickly put together an awesome score would be to pick up two or three credit cards as soon as possible. Use them one time, pay them off and forget they even exist. The fact that you do not use the cards makes no difference. Each month that passes earns you a mark for an on-time payment that is slowly building your score! Check out http://www.cardratings.com/ if you are looking for help in finding a card that fits your style. Another good option if your parents trust your spending habits is to have them place you on one of their credit card accounts. You immediately pick up their payment history and can quickly build your score with this tactic.

If you should decide to use the credit cards on a monthly basis, be very careful not to charge to anywhere over 20-30% of your credit limit. If you should happen to spend over that percentage, the best thing to do is pay the card back down to below a 20-30% level by the months end to avoid hurting your score. In my opinion, lenders and investors like to see that even though you have credit available to you, you are not so strapped for cash that you use the money and cannot pay it back down in a timely fashion.

And with this I am off to bed. More lives to change tomorrow...money to secure, paper to push. Gnight all...

"When I asked my accountant if anything could get me out of this mess I am in now he thought for a long time and said, 'Yes, death would help'." - Robert Morley

Thursday, May 17, 2007

Empowerment is coming, but will YOU be ready?

Hey yall! I decided that I have a problem, and no...whatever you're thinking is definitely wrong. My problem is that when I find something that I get really into, I feel guilty if people around me know of my idea and I do not bring them in to the circle. Through my business, every friend or client I meet is usually a potential co-worker. People like to talk about 3 things when meeting a new person. First is the weather. Second are gas prices and why the world market keeps them so high. The third is the housing market.

Everyone has a stake in the real estate game, no matter how much they claim to hate it or avoid it. No matter what, you need somewhere to live. A mansion or a box...real estate doesn't discriminate, and it definitely doesn't player hate. So the more I thought about it, I decided that I would like to combine my industry with my friends. I see in my mind that the two can exist with each other in a way that can benefit everyone involved.

My goal as a broker has been to introduce a brand new concept into the real estate game: true hospitality. I choose to provide a service level that rivals a Ritz-Carlton so that anyone around me will feel that I do my job well and will speak highly of me to others. My second goal as a broker is to act as an educator to anyone that would like to listen. I choose to spread the wealth. And just to clear the record...I am not claiming to be the last stop for real estate knowledge, but I will claim to enjoy what I do, and want to share the enthusiasm with everyone!

Now when it comes to finding business, I have decided that by spreading the wealth, I will always succeed! I choose to use alternative means to find clients instead of mass-mailing letters or cold-calling families during dinner. Should you decide to work with me, I will share a portion of any revenue that I make from any client that I receive from you. I will train and groom anyone that shows the fire for the business to find leads and close them with my assistance. All the while, you continue to work at your current J-O-B and continue to earn the money you are used to. What we can do together can greatly supplement your take-home pay...and that is a language that everyone likes to hear! I'm taking off for now... It has been a pleasure.

“To improve is to change; to be perfect is to change often.”
~ Winston Churchill




You can find great local Florida real estate information on Localism.com Jared Schmidt is a proud member of the ActiveRain Real Estate Network, a free online community to help real estate professionals grow their business.
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