If you were going to purchase a $150,000 income property that rents for $1,500/mo with a conventional loan from the bank of your choice, you’d be expected to bring $30,000 to the closing table as your down payment. The bank would bring the balance of $120,000 in the form of a mortgage.
If you have an 800 credit score, right now you could expect a rate of 3.5%… of which would calculate to a 14% cash-on-cash return on this property.
If you had a middle-of-the-road credit score, an 11% cash-on-cash return.
If you had the minimum credit score, an 8% cash-on-cash return.
All things being equal… notice the difference between a great credit score and the minimum credit score on your return. That’s a 57% difference in your property’s performance!
An 800 credit score can equate to you getting to your passive income goal 57% faster, OR with 57% less property purchases.
After filing bankruptcy in 2001. I’ve almost got my score to an 800, and I’ll show you in this video how I did it.
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My name is Matt Theriault. When aspiring, frustrated investors are stuck in the proverbial “rat race,” they come to me.
I help these people create passive income through creative real estate investing strategies so their money works harder for them than they do for it, resulting in ultimate financial independence and freedom.
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