Money do not talk, credit do tho!
- Thread starter BrothaZay
- Start date
But... You need cash... To pay.. the credit off 
The payments on a 800k mortgage would be insane.
The payments on a 800k mortgage would be insane.
UpAndComing
Veteran
Damn right, LLC Twitter right on this one
Cash is Queen, but Credit is King
Business Line of Credit is the ultimate though. That's where I'm trying to get to
Cash is Queen, but Credit is King
Business Line of Credit is the ultimate though. That's where I'm trying to get to
Right now in the housing market cash> credit, even if the financed offer is higher, sellers are still sometimes taking lower cash offers.
JoseLuisGotcha
Aka Allhiphopsux
Cash will always be king
if i was opening a business I’d take that 100k cause you have to pay that credit back with interest …nothing like free and clear
if i was opening a business I’d take that 100k cause you have to pay that credit back with interest …nothing like free and clear
Depends if your ass got a 800 credit score but make 18k a year the bank ain't giving you that much money if anything.
You make 50k a year and got 800 credit score but got 250k in debt the bank gonna laugh at you when you come in asking for a loan.
You got a 800 credit score but it's like 2009 where banks are broke they foreclosing on homes and ain't loaning out money to regular folks that 800 credit score means nothing.
It's all about the situation. I say all of this as a person who was trying to get loans in 2010 to buy properties. Them banks didn't give a fukk about my credit score. They weren't trying to give up the loan money. I mean how could they when damn near every client they had was underwater on their mortgages.
Luckily I had cash so I said fukk it and bought my properties from the bank (forclosures) with straight cash.
You make 50k a year and got 800 credit score but got 250k in debt the bank gonna laugh at you when you come in asking for a loan.
You got a 800 credit score but it's like 2009 where banks are broke they foreclosing on homes and ain't loaning out money to regular folks that 800 credit score means nothing.
It's all about the situation. I say all of this as a person who was trying to get loans in 2010 to buy properties. Them banks didn't give a fukk about my credit score. They weren't trying to give up the loan money. I mean how could they when damn near every client they had was underwater on their mortgages.
Luckily I had cash so I said fukk it and bought my properties from the bank (forclosures) with straight cash.
UncleTomFord15
Veteran
Yes ma'am all of this.
No provider of credit utilises your arbitrary credit score to determine whether they should extend you a credit facility.
They use your payment history and employment status. For larger amounts they'll include collateral.
Not every business offering finance is looking to leverage that history in the same way to turn a profit. Some business models actively want those with less than stellar history, believe it or not.
Stop focusing on the credit score. Obtain credit, be it phone bills or whatever, then build on that with credit cards. Never be late with payments. Ever.
In the last 3 months I've utilised $30,000 more of my lines of credit. My credit score went down. Because of my history of never missing a payment and showing lenders I'm borrowing right now I receive multiple offers weekly offering me more credit.
They use your payment history and employment status. For larger amounts they'll include collateral.
Not every business offering finance is looking to leverage that history in the same way to turn a profit. Some business models actively want those with less than stellar history, believe it or not.
Stop focusing on the credit score. Obtain credit, be it phone bills or whatever, then build on that with credit cards. Never be late with payments. Ever.
In the last 3 months I've utilised $30,000 more of my lines of credit. My credit score went down. Because of my history of never missing a payment and showing lenders I'm borrowing right now I receive multiple offers weekly offering me more credit.
The key is to have both. Large stack of cash on hand and a great credit score.
Real talk if you got these 4 things you will be unstoppable. 1. A nice size yearly salary (like 70k or more), 2. Low debt or no debt, 3. Nice stack of cash (30k or more) and finally 4. A high credit score.
You got those 4 things you cooking with gas and can make money very quickly and hedge yourself against changes in the market or economy.
Real talk if you got these 4 things you will be unstoppable. 1. A nice size yearly salary (like 70k or more), 2. Low debt or no debt, 3. Nice stack of cash (30k or more) and finally 4. A high credit score.
You got those 4 things you cooking with gas and can make money very quickly and hedge yourself against changes in the market or economy.
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There is a spirit of stupidity roaming the earth. The spirit itself is not stupid but it’s orders are to deceive a certain number of the sons and daughters of men with convincing but perfectly idiotic logic.
