Condo Hotel Article Archive » Importance of Credit and Ways to Improve It | Condo Hotel Blog

Importance of Credit and Ways to Improve It

For this episode, the team talked about the significance of credit especially in making money and in investment activities. They explained the meaning of various credit scores and the several factors affecting its change that makes it a good or a bad credit. Mo, TME’s residential credit expert, says that anyone can improve their credit.

She gave some practical tips to avoid common credit card frauds and explained how it is easily possible to become one of the victims.

Joe also shared a bit of life story of Sam Zell, a multi-billionaire in Chicago who believes that “Conventional wisdom is the entrepreneur’s worst enemy.” Joe also reiterates throughout the show that most of the information they are giving in the show is NOT conventional.

Callers asked the recommendations of the group with regards to the following investment and credit issues:

On significant credit drop; The team explained why mortgage is the greatest builder of credit;
On credit charge offs; Joe reminds to keep good records when paying debts or bills;
On making investment with the major change in sub-prime lending; the team had no clue on how long the storm would last but they believe that it would not be a long lived problem so it is possible to pull out equity on some of the caller’s properties just to keep it going for now;
On reinvesting funds for another property but having problems convincing his wife; the team suggested that they should both attend the ‘Back to Basics’ free workshop on April 28 happening on Downers Grove, IL. On House Bill Law (HB4050); discussed its purpose and function, why is it that controversial and how does it affect people who look into mortgage.

Making Money in Real Estate with Joe Aldeguer can be heard Saturday morning on WLS Newstalk 890 from 10:00 AM to 12:00 PM. Making Money in Real Estate with Joe Aldeguer can be seen on CLTV Chicagoland’s Television Saturdays from 12:00 PM to 12:30 PM and Sundays 5:30 PM to 6:00 PM. The radio and television shows offer insight and strategy on building a real estate portfolio. Listeners and viewers can pick up tips and methods to make money in real estate as our experts reveal the truth behind many common real estate myths. Find financing that best suits your financial situation.