Skip to main content

Credit Scores & Real Estate. Why they are important.


 


I personally and recently learned the importance and relevance of having a reputable CREDIT SCORE. After years of living as a twenty something and not caring if I didn't pay my local NYC Midtown Gym bill, Macy's Card, etc, I discovered my Credit Score was in the lower tier 550 range. Not Good News. This low credit score deterred my financial lending ability to purchase a Rental Income Property with my Brother in San Marcos. It also hindered my financial ability to purchase a SOCO, Travis Heights 2/2 Condo with my fiancé. Luckily my fiancé had perfect credit and could qualify for the moderate sized loan on her own. Despite having zero, I repeat zero debt, my credit score was undesirable.

My Credit Score needed a BOOT CAMP!

Let's admit, credit cards are stupid, unnecessary and in my opinion suck. Yet having a record and solid history with credit is important for your personal credit report, and real estate ambitions. Possessing an average to higher tier credit score will improve your chances of landing your ideal tenant rental property and even in securing the best interest rates on real estate purchases and re-financing. 

I am a licensed Real Estate Broker in Texas and NOT a mortgage or lending professional guru. Yet, it is in my professional interactions and personal real estate experiences I have learned the importance of keeping a decent CREDIT SCORE.

There are some paid for services that you can hire and will make attempts to improve your credit score. I personally chose to hire and pay for ELEVATEMYSCORES. I signed up with them and paid them $100 monthly for 4-5 months. They told me to sign up for a minimal credit card. They also sent cease letters to outdated and unrighteous collection mongers. I  would recommend and refer you to ELEVATEVEMYSCORES. But feel free to shop around for credit repair services.

Unfortunately, life and real estate is all a GAME and one must learn how to intelligently play it, in order  to succeed. Don't you wish the professors taught us this financial literacy stuff in high school and college, eh? 

If you have any questions, inquiries or thoughts on Austin and Central Texas  Real Estate, contact Austin Silent Market's Licensed Broker and Real Estate  Consultant, George Vance McGee @ 512.657.9281 georgevance@gmail.com








Comments

Post a Comment

Most Popular Posts on ATX Real Estate Life Blog

Per TheATX1 (@The ATX) on Twitter: Here are the Future Development Plans for West 6th and Lamar in Old West Austin, near Downtown, ATX.

 This is a massing of the 6th & Lamar (Waterloo Records site) residential project based on the Planning Commission approved zoning. The original plans before a compromise was reached with the local neighborhood association called for a building 31' and two or three floors taller. TheATX1 (@The ATX) posted: This is a massing of the 6th & Lamar (Waterloo Records site) residential project based on the Planning Commission approved zoning. The original plans before a compromise was reached with the local neighborhood association called for a building 31' and two or three floors taller.  https://x.com/theatx1/status/ 1944435039199985686?s=66
Post a Comment
Read more

Should you BUY a FLIPPED House? ATX Broker Associate GVM Tips, Insights.

 SHOULD YOU BUY a "FLIPPED" HOUSE?  Have you personally ever considered and wondered if you, yourself should BUY  a "flipped house." In my 15+ years of predominantly residential Central Austin brokerage practice and experience, here are my insights, opinions, suggestions and things to be cognizant of.  #1. Absolutely, for sure get a LICENSED INSPECTION on the flipped house! Not all flippers are the same. Just like in life there is a wide spectrum in regards to quality. Some flippers are flat out awful. They make very lipstick-like improvements, skip the expensive items such as the foundation, and plumbing and try to trick the consumer into paying more for a home, when the consumer shouldn't.  On the Flip Side (this joke was just too obvious) There are also excellent high-quality flippers whom selectively choose which homes they flip, and then they invest carefully and beautifully while genuinely  improving a home! Some of these hi-quality upper tier flippe...
Post a Comment
Read more

THE UNICORN LIST for Austin, Texas 2026 Edition via GVM Real Estate Broker:

  🦄 GVM's Austin Texas UNICORN LIST™ George Vance McGee's Favorite Local Professionals, Businesses & Hidden Gems 2026 Austin Edition By George Vance McGee, Austin Native, Real Estate Broker Associate, Austin Silent Market Austin is a rapidly & constantly changing city, but some local businesses, professionals, and community institutions continue to stand out. Over years of working in real estate sales, leasing, lot development and simply enjoying life in Austin, I've developed my personal "UNICORN LIST" of trusted local resources. A "Unicorn" is an ATX resident who was born and raised in Austin, TX. My mother Andrea Roberts McGee (rest in peace) birthed me at Seton Hospital on West 38th Street in November of 1981.  ⚖️ Real Estate Attorneys Claiborne Cowan & Associates Wills Probate Estate Planning Real Estate Legal Matters Jon M. Daves Evictions Landlord & Tenant Law Leasing Disputes Property Rights Shapiro & Dunn Business Law Practi...
2 comments
Read more