Credit scores, debt consolidation, loan management, credit repair, and debt payoff strategies.
Master credit & debt management with our progressive approach
Foundation terms you need to know first (19 terms)
Consumer debt is money owed by individuals for personal goods and services, such as credit card balances, auto loans, and student loans, which directly impacts an investor's financial health and borrowing capacity for real estate.
A credit bureau is a company that collects and maintains financial information about individuals, compiling it into credit reports used by lenders to assess creditworthiness.
A credit inquiry is a request by a lender or other authorized party to view your credit report, which can be either a hard inquiry (impacting your score) or a soft inquiry (no impact).
Debt considered beneficial because it helps acquire assets that appreciate in value or generate income, ultimately improving financial health.
Financial habits are the routine behaviors and decisions individuals make regarding their money, influencing their financial well-being and ability to achieve investment goals. These habits are crucial for building capital, managing debt, and securing favorable financing for real estate ventures.
Complex strategies and professional concepts (1 terms)
Bad debt in real estate refers to rental income or other payments owed by tenants that are unlikely to be collected, directly impacting an investor's cash flow and profitability.
Bankruptcy is a legal process allowing individuals and businesses to discharge or repay debts under court supervision, significantly impacting real estate assets and future investment capabilities.
Business credit is a credit profile established for a business entity, separate from its owner's personal credit, used to secure financing and establish credibility for commercial activities.
A financial tool for businesses to manage expenses, separate personal and business finances, and build business credit history.
A Business Credit Report details a company's financial reliability and payment history, influencing its ability to secure commercial loans and favorable terms for real estate investments.
A numerical assessment of a company's creditworthiness, reflecting its ability to manage financial obligations and repay debts, distinct from personal credit scores.
A co-signer is an individual who legally agrees to be responsible for another person's debt, such as a mortgage, if the primary borrower fails to make payments. This arrangement helps primary borrowers qualify for financing by leveraging the co-signer's stronger credit and income.
Consumer debt is money owed by individuals for personal goods and services, such as credit card balances, auto loans, and student loans, which directly impacts an investor's financial health and borrowing capacity for real estate.
A credit bureau is a company that collects and maintains financial information about individuals, compiling it into credit reports used by lenders to assess creditworthiness.
Credit history is a record of an individual's past borrowing and repayment behavior, crucial for lenders to assess creditworthiness for loans and mortgages.
A credit inquiry is a request by a lender or other authorized party to view your credit report, which can be either a hard inquiry (impacting your score) or a soft inquiry (no impact).
Credit repair is the systematic process of improving one's creditworthiness by identifying and addressing inaccuracies or negative items on credit reports, crucial for real estate investors to secure favorable financing.
Explore complementary areas that build on credit & debt management concepts
Personal budgeting, expense tracking, cash flow management, emergency funds, and savings strategies.
Macroeconomic concepts, interest rates, inflation, Federal Reserve policy, and economic cycles.
Wills, trusts, estate taxes, succession planning, beneficiary planning, and wealth preservation.
Key financial calculations, ratios, and valuation methods used to analyze real estate investments and performance.