Hi Everyone,
We had another interesting meeting last night with a presentation by Robert Mohan on making yourself attractive to bank lenders. A few tidbits I picked up from his presentation:
- The ideal mix of things to show up on your credit report
- 3-5 credit cards (I've subscribed to a no CC lifestyle, but will consider picking some up since listening to his presentation.)
- one installment loan
- one mortgage
- Bump your credit score 25 points in a short amount of time (1-3 months? I forget) by using your credit cards for some small purchases, then paying them down to $1 once every week.
- Freeze your credit with the major credit bureaus. It's free. You can do it online. After initial set up, it only takes a few minutes to apply a thaw when you actually are applying for credit.
- Maintain relationships at a variety of banks and visit them in person often, or at least with a phone call if they're out of state.
- Get a copy of your Consumer Disclosure Report and dispute anything incorrect. This is different than your credit report.
On the networking front, I met a couple who do some wholesaling and picked up a few pointers about their cold calling that has made their cold calling endeavors more successful than mine.
I also got some flooring estimates scheduled with Blain from Touch of Color Flooring. Making my life easy.
See everyone next time,