"An 800 credit score has more purchasing power than 100K" True or False?
- Thread starter Turk
- Start date
Depends on how you look at it.
You can leverage that 800 credit score to get a loan on a property to make an investment AND use some or all of the 100k to make another investment. You'll see returns from both avenues versus just cashing out the 100k(putting all your eggs in one basket).
This brother breaks down a similar strategy.
You can leverage that 800 credit score to get a loan on a property to make an investment AND use some or all of the 100k to make another investment. You'll see returns from both avenues versus just cashing out the 100k(putting all your eggs in one basket).
This brother breaks down a similar strategy.
False
Whole lot of folks in 2008 had 800 credit scores and couldn't buy shyt.
But folks with 100k liquid cash could buy up a block in certain areas.
Whole lot of folks in 2008 had 800 credit scores and couldn't buy shyt.
But folks with 100k liquid cash could buy up a block in certain areas.
Credit means a lot when the economy is avg to good.
Credit damn near means nothing when the economy tanks.
When the economy tanks it is all about that green.
Credit damn near means nothing when the economy tanks.
When the economy tanks it is all about that green.
Huellz Santana
Shocking
and they would be stupid to do so if they could do the same with leverage (debt). there's nothing wrong with debt if the money you make is greater than the interest payments. Smart business people use debt strategically.
R.E.N. Spells Ren
Veteran
Depends on the income of both parties and the credit score of the dude with 100k vs the capital of the dude with an 800 score
It does because you have access to more money without using your 100K.
the end
the end
Cabbage Patch
The Media scene in V is for Vendetta is the clue
I thought collateral has the most purchasing power, then credit score.
Besides, if you have $100,000 liquid you're playing a different ballgame at 620 than paycheck-to-paycheck is at 720.
Besides, if you have $100,000 liquid you're playing a different ballgame at 620 than paycheck-to-paycheck is at 720.
Once again that was 2008 like 2001 no bank was giving out loans. Folks were walking away from their homes. There were homes that were bought for 400k were going for 80k.
Go look over history and see how much folks with cash buy up shyt whenever the economy tanks.
Aint no banks giving out loans in a big time recession.
Aint no banks giving out loans in a big time recession.
Doobie Doo
Veteran
755 score,almost there brehs
Let's be reality...... most cats with a 620 aren't sitting on 100K liquid.
If you have collateral, chances are you have a good credit score.
Depends on your income. I had that credit score around 23 and I couldn't get more than 5 gs credit wise