Here is a subject that never gets old: Credit!! I use it in real estate, and I’ve worked really hard to get out of personal debt, and its something that touches every single one of us. This is a wake up call for new real estate investors, or others looking to get into real estate investing. Getting out of debt involves a level of financial intent and discipline that is needed not only in managing personal debt, but managing real estate investments as well. Learning the ability to maximize current cash intakes (paychecks, regular income) to obtain a financial goal is the came if you are eliminating credit card debt or investing money in a rental property. I’ll also discuss how being in credit card debt not only eats whatever returns you may have, as well as lead you to make emotional business decisions when you should have a clear head.
And dont forget: Interest paid on credit card/debt for real estate investing is tax deductible: not the case for your personal use!
17 Comments
I’ve been here today !
Love your bigger pockets podcast!
You’re an inspiration. Lots of good information. Thanks
You’re an inspiration. Lots of good information. Thanks
I am happy i found your channel because you really go internal with it. I
totally agree with your strategy about Good dept and bad dept. Me
personally i am doing exactly what you saying on this post. Taking care of
my personally finances/dept first and then jump start my real estate
career.
And one more thing, the individuals out there who are facing financial
difficulties like i was. I took a online class called “WHERE DOES MY MONEY
GO” its a personal development course. Its change me “In order for your
surroundings to change you must change first” Life is Good
Hi, I want to know your opinion on an issue. I have a few grand in savings,
which I’ll use to purchase my first property. I currently owe 1800 on a
credit card. Should I take the money from savings to pay it off or just
double up on payments until the balance is 0? This is the only card that I
have a balance on and I rarely, if ever, use it. Thanks!!!
Lisa Phillips gives me hope in real estate this month Igoing to the bank to
see what I can do to straighten my credit so I can start by real estate I
watch her videos YouTube videos over and over and over
Love your videos! I wanted to ask how would I get access to lines of credit
to help fund my renovations?
Respect
Thank you so much for your videos! They are of great help 🙂
I am a recent college graduate interested in real estate investment, but
like many college grads I have some college loans that I am paying right
now.
I know you talk about credit card debt in this video, but I was wondering
if you think I should pay my college debt before investing in my first
property, or is there a way that I can do both at the same time.
I really appreciate your help. Keep those videos coming!
-Hermilo
Better than the original
I am so loving these videos sis!!
Love it!