Posted by aria giovanni on October 19, 2005 at 13:06:08:
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I’m Ready! - Posted by Venice
Posted by Venice on June 22, 2005 at 21:55:20:
Okay, I am ready. Absolutely Ready! I’ve set goals that I’m gonna attain, no matter what. Where do I start first? What do I do first? I’m lost on that aspect. Please advise. I am a newbie, with no money, but can and will come up with closing costs up to 5k if need be. And a credit of a very low 530. What should I do first?
Also, I’m interested in investing more in other states then my locality. But for experience I decided to try to start locally, even though its flooded here. Is this wise? Should I just start where I really want to invest?
Re: I’m Ready! - Posted by Mike (Seattle WA)
Posted by Mike (Seattle WA) on June 23, 2005 at 12:28:39:
Why is your credit score so low? You will not be able to get any sort of loan, you will have trouble renting a place, you’ll pay more for everything at every step, and even some hard money is going to look at you cross eyed with credit this low.
This is why you are getting the negative responses here. Yes, it is possible to invest with no money, no credit, and no experience and get really lucky once or twice. But why not fix the credit right now as that is completely within your control. Pay your bills on time, learn money management skills, get some of the debt paid down a bit, and stat calling your creditors asking for the late 30/60/90’s to be removed from your report. All it takes is credit above 580 for some loans and 620 for most others. That won’t take too long to achieve with care and persistance on the phone with the credit people. check out www.creditboards.com for info on how to improve your personal credit. Once that’s taken care of, you now have 1 or the 3 legs I previously mentioned (credit, cash, experience/education) to get a start on things. With 2 of 3, the amount of deals you can do goes way up and with 3, you can do it full-time and live very well indeed.
In the mean time, if you do have spare time outside of work (DON’T lose your job!), network with some local investors, find out what type of deals they want, and start digging around your community looking for them.
Start by paying your bills. - Posted by collector
Posted by collector on June 23, 2005 at 09:46:17:
.
Re: I’m Ready! - Posted by anon
Posted by anon on June 23, 2005 at 08:18:00:
You need to build up your credit.
Re: I’m Ready! - Posted by red
Posted by red on June 22, 2005 at 23:02:31:
you live in venice italy?
ipage help - Posted by ipage help
Posted by ipage help on January 12, 2006 at 15:14:42:
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Re: Start by paying your bills. - Posted by Venice
Posted by Venice on June 23, 2005 at 16:27:35:
I do pay my Bills. Thank You