The Real Estate Show

Radio Show Notes 12/31/24 Tuesday:

Read a summary of the show below or

Listen Here

Watch Live Facebook Video Here

The Ultimate Guide to Turning Your Credit Score into a Wealth-Building Asset for 2025

By Eric Willner, Investor, Coach, and Host of The Real Estate Show, America’s longest running daily radio show about real estate.

Welcome to The Real Estate Show!

Welcome to The Real Estate Show – South Florida’s #1 Real Estate Radio Show and America’s longest-running daily radio show about real estate. My name is Eric Willner, known as the Voice of Real Estate, founder of America’s longest-running daily radio show about real estate, and creator of The Automatic Landlord System for Owning Cash Flowing Real Estate “Profitably and Hassle-Free.” It’s a virtual real estate seminar in every episode.

Today, we’re diving into "Your Credit Score Will Determine How Many Great Opportunities You Get in 2025." Let’s start with a few thought-provoking questions:

Did You Know?

1. Did you know that a credit score under 700 can cost you tens of thousands of dollars in higher interest payments over a lifetime?
2. Did you know that over 30% of Americans’ credit scores prevent them from qualifying for the lowest mortgage rates?
3. Did you know that without a solid credit score, your ability to invest in real estate or even rent a property can be severely limited?

These are just a few of the alarming statistics about the current market. It’s important to be aware of the challenges you may face so you can plan accordingly.

Remember, everyone is in real estate. Either you’re IN Real Estate because you own it—you searched, negotiated, and closed on it, enjoying the pride of ownership and its many benefits—or you’re ON Real Estate, paying rent directly or indirectly through your employer. The question is: how will you position yourself in 2025?

Our Mission

Our mission is to transform lives through affordable housing—empowering, educating, and enabling families and individuals to enjoy the American Dream of homeownership.

Today, let’s talk about success, failure, and how your credit score will determine how many great opportunities you’ll get in 2025. Yesterday, I shared nine reasons why this matters. Now let’s break those down into actionable steps.

9 Actionable Steps to Improve Your Credit and Opportunities

1. Understand Your Credit Report
   Start by pulling your credit report from all three major bureaus (Equifax, Experian, and TransUnion). Review it for errors or inaccuracies that may be dragging down your score. Dispute any mistakes immediately. Awareness is the first step to improvement.
2. Pay Down High-Interest Debt
   Focus on reducing your credit card balances to below 30% of your credit limit. This improves your credit utilization ratio, which makes up a significant part of your credit score. Prioritize high-interest debts first using the snowball or avalanche method.
3. Set Up Automatic Payments
   Late payments can tank your credit score. Automate bill payments to ensure you never miss a due date. Consistency is key when it comes to improving your payment history.
4. Avoid Opening New Credit Accounts
   Each credit inquiry lowers your score slightly. Unless absolutely necessary, avoid opening new accounts while you’re in credit-building mode. This shows lenders you’re stable and not overextending.
5. Negotiate With Creditors
   If you’re struggling with existing debt, call your creditors to negotiate lower interest rates or a payment plan. Many lenders are willing to work with you if you take the initiative.
6. Build Positive Credit
   Consider using secured credit cards or becoming an authorized user on a family member’s account to build positive credit history. These tools help boost your score over time.
7. Monitor Your Credit Regularly
   Use credit monitoring services to track changes and guard against identity theft. Staying on top of your credit is a proactive way to ensure it remains healthy.
8. Don’t Close Old Accounts
   Closing old accounts can shorten your credit history, which negatively impacts your score. Keep them open, even if you’re not actively using them, to maintain a longer credit history.
9. Educate Yourself on Credit Impact
   Understand how your actions—like applying for loans or missing payments—affect your score. Knowledge empowers you to make better decisions that safeguard your creditworthiness.

Today’s Show is Brought to You By: TimeToFixMyCredit.com
Text "CREDIT" to learn more about fixing your credit and unlocking opportunities in 2025.

Tools for Achieving Real Estate Goals in 2025

Let’s now explore some key tools to help you achieve your real estate goals:

1. Experts Teaching About Real Estate Ownership
   Partner with seasoned professionals to gain insights into market trends, financing options, and investment strategies. Their experience can save you time and money.
2. Path to Homeownership Free Workshops
   Attend workshops designed to educate and empower renters and buyers to transition into homeownership. These sessions provide actionable steps tailored to your financial situation.
3. Financial Calculators
   Use online tools to calculate mortgage payments, debt-to-income ratios, and potential investment returns. Knowledge of your numbers helps you plan effectively.
4. A Financial Plan
   Develop a roadmap that includes saving for a down payment, reducing debt, and leveraging tax advantages. A strong financial plan is the foundation of successful real estate investing.

Today’s Show is Brought to You By: TimeToFixMyCredit.com
Text "CREDIT" to 561-861-2366 to get started on improving your credit today.

Summary of Today’s Show

• Your credit score is a critical factor in unlocking opportunities in real estate and beyond.
• 9 actionable steps to improve your credit were outlined, including reducing debt, automating payments, and understanding credit reports.
• Free resources and workshops are available to help renters, buyers, and investors navigate the real estate market.
• Tools like financial calculators and expert guidance empower you to achieve your goals.
• Take action now to position yourself for success in 2025 and beyond.

What’s Next?

Tomorrow is our Wednesday Midweek Mortgage and Market Report, where we’ll get you up to date with what’s happening in the real estate world. You won’t want to miss it!

Thank you for taking the time to tune in today. Remember, The Real Estate Show is more than a program—it’s your partner in real estate success. Don’t just listen; take action! Use what you learn here to start your journey into real estate investing. And don’t forget to attend our free online workshops to equip yourself with the tools you need to succeed.

Thanks for listening, and I hope to help make the American Dream come true for you soon!