Most creditors use credit scoring to evaluate your credit record. This involves using your credit application and report to get information about you, such as your annual income, outstanding debt, bill-paying history, and number and types of accounts you have and how long you have had them. Potential lenders use your credit score to help predict whether you are a good risk to repay a loan and make payments on time.

Many people just starting out have no credit history and may find it tough to get a loan or credit card, but establishing a good credit history is not as difficult as it seems.

You might apply for a credit card issued by a local store, because local businesses are more willing to extend credit to someone with no credit history. Once you establish a pattern of making your payments on time, major credit card issuers might be more willing to extend credit to you.

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The market has limited impact on seasoned investor.

No matter if you are holding properties long term or doing a quick flip, local market changes will not affect you in a major way if you are careful. For example if you are doing long term hold revenue properties there is little to no chance that market will not increase over term of your holding period. If you are on other hand flipping properties then you will buy at a higher price in a strong market and will move property quickly, or get a better price which will help you in higher holding costs in a softer market.

Now, just as a side note for those of you looking at holding properties for future value considerations. If you are buying negative cash flow properties with expectation of equity increase over 2-3 years then, in words of a recent article that I read, SHAME ON YOU! If you are using investor’s capital to close these deals and value doesn’t increase what are you going to do? What if value decreases in that time? You are putting investor’s capital at risk and as far as I am concerned are acting as an irresponsible speculator, not a seasoned real estate investor!