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Updated about 3 years ago on . Most recent reply

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Austin Olivas
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In need of beginner tips!

Austin Olivas
Posted

Hey guys,

I am brand new to bigger pockets and real estate investing. I am currently a graduate student working towards obtaining my CPA license in Texas, but my biggest interest is becoming financially free by doing real estate.

If anyone can give me some advice on questions I have, I would deeply appreciate it:

How can I build my credit without using a credit card?
What ways can I enter the market with little to no credit?
Are college towns a good market for the BRRR method?


Thanks 



Most Popular Reply

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102
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Erik Checkur
  • Real Estate Broker
  • Denver, CO
71
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Erik Checkur
  • Real Estate Broker
  • Denver, CO
Replied

They need to see you can obtain a debt, manage it responsibly and pay it off. So you need to acquire a debt of some kind. Most people choose to do this wisely with credit cards throughout their daily life so they can go into debt by buying their every day items and paying them off.

Follow Pace Morby. He discusses lots of ways to handle creative financing where you can break into real estate without using credit. I believe in one of his videos he mentioned he hasn't seen his credit score in like 8 years, but has purchased hundreds of homes using his creative financing. 

I personally feel like college towns can be very profitable but quite risky too. I haven't done any BRRR deals yet but it could work out for sure. Someone who is more familiar with the risks/rewards within a college town would definitely be better suited to answer this fully for you.

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