(Disclaimer: This list of questions and/or considerations is intended and designed to be informational but not exhaustive. You should consult with professionals familiar with the rules, laws, and practices applicable to the specific market in which you transact business.) Finding The Money W4 Magic: Check Your Credit: Checking your own score does not hurt your credit! However, you might be asked to sign up for monitoring service and have to pay a $1 – if you do this then make sure you cancel prior to the trial period. Resources: http://checkmythreescores.com http://annualcreditreport.com http://scoresense.com
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(Disclaimer: This list of questions and/or considerations is intended and designed to be informational but not exhaustive. You should consult with professionals familiar with the rules, laws, and practices applicable to the specific market in which you transact business.)
Finding The Money W-‐4 Magic:
Check Your Credit: Checking your own score does not hurt your credit! However, you might be asked to sign up for monitoring service and have to pay a $1 – if you do this then make sure you cancel prior to the trial period. Resources: http://checkmythreescores.com http://annualcreditreport.com http://scoresense.com
● Excellent credit is 760 + ● Good credit is 700749 ● Fair credit is 650699 ● Poor credit is 600649 ● Bad credit is below 599 Credit Cards: ● Look for 0% Interest! ● Apply for everything you can ALL AT ONCE ● Use cash advance from credit card and deposit the money into a designated checking account that will automatically pay the other credit card payments. So if you get $20,000 and pay $15,000 for education / real estate rehab etc. Well put the other $5,000 as a cash advance into your checking account and use that money to make the monthly payments. This will provide you with no “out of pocket” cost and give you several months some people get a year plus to complete your transactions.
Peer-‐to-‐Peer Lending: Here's how it works: ■ Borrowers choose a loan amount, purpose and post a loan listing. ■ Investors review loan listings and invest in listings that meet their criteria. ■ Once the process is complete, borrowers make fixed monthly payments and investors receive a portion of those payments directly to their Prosper account.
Resources: 1. www.prosper.com 2. www.lendingclub.com 3. www.greennote.com (specifically to fund college education) Whole Life Insurance: Find out if you have whole life, contact your agent and ask them about the benefits and how to tap into that money.
Title Loan: Do you have equity in your vehicle? You can get a title loan from Credit Union (NOT a quick loan high interest type of loan). Just like regular auto loan 80% -‐ 120% of High Book Trade-‐In Value http://www.nada.com Rate 2.99% (can go up depending on credit and age of vehicle) Not So Great Credit: Touchstone Financial: http://www.touchstonefinancialloans.com/ Security Financial: http://www.security-‐finance.com/ HELOC: home equity line of credit
Family – Friends – Love Money: Check out www.loanback.com Here you can build your loan agreement in minutes. Think about making the person you are borrowing the money from your learning partner. Retirement Plans: Check out www.aps-‐utah.com (801 571 0667) ask for Megan she can walk you through the process of use a self-‐directed retirement plan to fund education as well as your real estate investments. Here a link that will explain a breakdown of what you are able to do with yours (or someone else’s) retirement plans: https://americanpension.com/pages/retirementplaninfo Universal Guardian: Retirement: Fund education without credit check Fund education without credit check Down Payment: 10% with min. $14,999 Down Payment: $0 Interest: 18% Interest: 4.25% (you pay yourself) Time of Loan: up to 36 months Time of Loan: up to 60 months Monthly Payment: $488.50 Monthly Payment: $303.00
