#check credit

[checkcredit-co]

How Often Should You Check Your Credit Report

what's up everybody welcome back to another episode on keeping it real with credit and on this episode we're gonna be talking about how many times should you be checking your credit report coming up [Music] so guys what's up welcome back and happy 2019 again again guys sorry for posting this video so late as I was spending some time with some family and friends over in Bali Indonesia and I gotta say I'm highly impressed Bali you definitely got my heart the people there were awesome the people that were amazing always willing to help and we can't leave over the amazing views and the amazing places and experience experience says that I was able to enjoy over there so I'm definitely looking forward to coming back to Bali Indonesia hopefully here now in the near future so with that being said let's get on with the topic well I think we can all agree that 2018 just flew by and it's hard to believe that once again there is a new year the good news is is that the start of a new year is the perfect opportunity to see what you're currently at on your credit journey and to put a plan into action to better your financial health in 2019 this also means that you will once again have access to your free annual credit reports you have the right to see your credit report from all three major credit bureaus once a year without having to pay a single penny a great strategy is to access your credit reports from all three credit bureaus every four months this way you're able to see your credit report throughout the entire year if you want to check them all at once that's fine as well it's definitely better than not checking them at all and I'm going to help you answer some of the questions and common questions asked when it comes to checking your credit reports now so why should you even check it how would you feel someone was using your personal information in order to open new accounts in your name and you had no idea about it I'm sure you'd be extremely frustrated and upset that someone accessed your private data without your permission so unless you want to be a victim of identity theft you should be checking your credit reports to verify that all information on your credit file is correct and that all the accounts listed actually belong to you your credit reports are updated regularly as a credit bureaus received new information about you and your accounts it's your responsibility to check that the the accuracy of the data reporting on your card if there's errors on your credit report such as payments that are wrongly reported late or outdated information it can seriously hurt your credit scores and in the event that you want to qualify for a loan or a credit card you may not receive the best rates that you qualify for because of the incorrect information that's currently on your credit report checking your annual credit reports is very easy and you can see them on line at wwlp.com or by mail also if you have a fraud alert placed on your credit file you're entitled to an additional free credit report from each credit bureau how awesome is that a lot of credit cards also offer free credit monitoring which can help you check your credit scores and look up for identity theft however it's recommended that you are checking the same credit score version each time as there are several types of credit score models available otherwise you will really be able to see or compare your scores correctly now what is actually on your code report you'll find plenty of information on your credit report the credit report will include your date of birth social security phone number address payment history and accounts don't be surprised if you see some collections foreclosures repossessions and other negative accounts as well as they should and will be reported on your credit report you will also see who has access to your credit file if lenders or creditors have pulled your credit report within the last two years those credit inquiries will appear on your credit report now you may ask what other reports do you have access to have you ever heard a specialty Consumer Reports specialty consumer reporting agencies collect they share information for service or product unless you've had an issue getting hired being approved for a lease or even opening a checking account you have never heard of a specialty consumer reporting companies these type of reports are compiled from your history of apartment rental payments employment and even medical records or payments just to name a few you can get free copies of these reports every 12 months from many of the specialty consumer reporting companies the CFPB has a list of them available online by checking your credit report regularly you can catch any errors or identify theft sooner rather than later and even the smallest errors could cause damage to your score potentially disqualifying you from loans or better lending terms so while you're taking the time to write down your new year's resolution for 2019 make sure that checking your credit report often is actually one of them so guys with that being said I hope you like the content and information on this video and I think this was a great topic to pick for the beginning of 2019 because this right here is the very foundation as to keeping track of your credit scores and making sure that your identity is safe with that being said guys thank you guys so much for the love and support make sure to share with family and friends don't forget to hit that like button and comment below what are some of the credit reporting systems that you have experience with and what are some of experiences that you've had with identity theft so that we can go ahead and contribute to this community so that we can all be better financially fit thanks again guys for tuning in and I'll see you on the next episode of Cuban area with credit peace

https://youtu.be/aCc4MTDABo0

[checkcredit-biz]

How Often Should You Check Your Credit Report

what's up everybody welcome back to another episode on keeping it real with credit and on this episode we're gonna be talking about how many times should you be checking your credit report coming up [Music] so guys what's up welcome back and happy 2019 again again guys sorry for posting this video so late as I was spending some time with some family and friends over in Bali Indonesia and I gotta say I'm highly impressed Bali you definitely got my heart the people there were awesome the people that were amazing always willing to help and we can't leave over the amazing views and the amazing places and experience experience says that I was able to enjoy over there so I'm definitely looking forward to coming back to Bali Indonesia hopefully here now in the near future so with that being said let's get on with the topic well I think we can all agree that 2018 just flew by and it's hard to believe that once again there is a new year the good news is is that the start of a new year is the perfect opportunity to see what you're currently at on your credit journey and to put a plan into action to better your financial health in 2019 this also means that you will once again have access to your free annual credit reports you have the right to see your credit report from all three major credit bureaus once a year without having to pay a single penny a great strategy is to access your credit reports from all three credit bureaus every four months this way you're able to see your credit report throughout the entire year if you want to check them all at once that's fine as well it's definitely better than not checking them at all and I'm going to help you answer some of the questions and common questions asked when it comes to checking your credit reports now so why should you even check it how would you feel someone was using your personal information in order to open new accounts in your name and you had no idea about it I'm sure you'd be extremely frustrated and upset that someone accessed your private data without your permission so unless you want to be a victim of identity theft you should be checking your credit reports to verify that all information on your credit file is correct and that all the accounts listed actually belong to you your credit reports are updated regularly as a credit bureaus received new information about you and your accounts it's your responsibility to check that the the accuracy of the data reporting on your card if there's errors on your credit report such as payments that are wrongly reported late or outdated information it can seriously hurt your credit scores and in the event that you want to qualify for a loan or a credit card you may not receive the best rates that you qualify for because of the incorrect information that's currently on your credit report checking your annual credit reports is very easy and you can see them on line at wwlp.com or by mail also if you have a fraud alert placed on your credit file you're entitled to an additional free credit report from each credit bureau how awesome is that a lot of credit cards also offer free credit monitoring which can help you check your credit scores and look up for identity theft however it's recommended that you are checking the same credit score version each time as there are several types of credit score models available otherwise you will really be able to see or compare your scores correctly now what is actually on your code report you'll find plenty of information on your credit report the credit report will include your date of birth social security phone number address payment history and accounts don't be surprised if you see some collections foreclosures repossessions and other negative accounts as well as they should and will be reported on your credit report you will also see who has access to your credit file if lenders or creditors have pulled your credit report within the last two years those credit inquiries will appear on your credit report now you may ask what other reports do you have access to have you ever heard a specialty Consumer Reports specialty consumer reporting agencies collect they share information for service or product unless you've had an issue getting hired being approved for a lease or even opening a checking account you have never heard of a specialty consumer reporting companies these type of reports are compiled from your history of apartment rental payments employment and even medical records or payments just to name a few you can get free copies of these reports every 12 months from many of the specialty consumer reporting companies the CFPB has a list of them available online by checking your credit report regularly you can catch any errors or identify theft sooner rather than later and even the smallest errors could cause damage to your score potentially disqualifying you from loans or better lending terms so while you're taking the time to write down your new year's resolution for 2019 make sure that checking your credit report often is actually one of them so guys with that being said I hope you like the content and information on this video and I think this was a great topic to pick for the beginning of 2019 because this right here is the very foundation as to keeping track of your credit scores and making sure that your identity is safe with that being said guys thank you guys so much for the love and support make sure to share with family and friends don't forget to hit that like button and comment below what are some of the credit reporting systems that you have experience with and what are some of experiences that you've had with identity theft so that we can go ahead and contribute to this community so that we can all be better financially fit thanks again guys for tuning in and I'll see you on the next episode of Cuban area with credit peace

https://youtu.be/aCc4MTDABo0

[checkcredit-biz]

How to Run a Tenant’s Credit Report

make sure to stick around until the end so that you can take away one of the big bonus tips that’s going to help you make sure you’re not leaving any holes when you run somebody else’s credit because I’m going to show you exactly how to run somebody’s credit within the next 10 minutes when it comes to applying for your rental property. have you ever thought about doing property management well running somebody’s credit is a very crucial part of that well let me give you the story of a new client sherry I’m a real estate broker and sherry came to me and shared this story with me I thought it was the perfect reason to make this video to teach you how to run somebody’s credit when sherry moved out of her first house she decided to turn it into an investment property rather than sell it within two days of only a sign in the yard she thought she struck gold she found a doctor from out of the area and a nurse local to the area that she lived in and thought this is perfect I got a doctor and a nurse that want to rent my place what could be better than this they came in their scrubs they were incredibly nice and they gave her credit reports that gave sherry here you go you’re our credit reports eight hundred plus were awesome and gave sherry cash right away and said we’d like to give you the security deposit right now so we can make sure we can have the first dibs at this property while we go through the application process and whatever and so nobody else can see it this is pretty standard so to Sherry a first time property manager this sounded like gold here’s a tenant that kind of already knows what they’re doing and she doesn’t really know what she’s doing so perfect this made her feel like her advertising work was magic and being a property manager was next to the easiest thing that there could possibly be she knew running credit was important but they already brought their Credit Karma credit reports they looked legit after all they had all the logos they looked like the actual credit karma credit reports and everything was set sherry also knew that it was kind of a hassle to get set up with credit bureaus and she’s heard stories about how people had to get their offices inspected to be able to run credit for people so she thought yeah this is good enough well nine months later sherry had her house back accept eight of those nine months she went without collecting a single payment on a property that was renting for $3,000 per month and she spent those eight months evicting the tenants who ended up leaving over eighty thousand dollars in damage because their socials were fake she couldn’t even sue them it turns out the only thing these medical professionals were able to dr. were their credit reports so here’s exactly how to run somebody’s credit the correct way oh and heads up for this method you do not need to have your office inspected you do not need a locking filing cabinet you do not need to go through a lengthy approval process with one of the credit bureaus or some kind of other third party company that is going to set you up to be able to run people’s credit we’re gonna make it a whole lot easier and you’re gonna get it all right now number one the most important thing to do is make sure you get a signed credit application I’ve got a sample here on screen and I also put a link to this sample application down below in the description you’ll find that link right below the link to my real estate investing course which is guaranteed to make you more money than the cost of the course which is pretty inexpensive or your money back you can personally email me when you accept the application from the tenant I highly recommend you take a nap on your phone like scanner pro or whatever and take a picture of the app right away so you can scan it and file it email it to yourself or whatever you need to do because the odds are if you don’t do that and you’re anything like me you’ll end up putting the papers on a pile and you’ll scan them six months from now but you may have already lost half of them very important when you take this signed credit application check their driver’s license in fact go ahead and scan their driver’s license as well I like to scan front and back and then compare the signature on the driver’s license to that on the application this sounds extreme and that might make you feel uncomfortable but think about it this way when you’re renting out your property the tenants are trying to court you they’re trying to get you to rent the property to them so this is very normal you’re in control at this point when the tenants have the keys that’s when they’re in control that’s why they say possession is nine-tenths of the law number two collect cash for the credit screening fee do not take a check because if they bounced the check you’re stuck paying bounced check fees I’ve been there also make sure to check your local and state laws regarding the maximum credit screening fees they’re different for every state now go to my smart move comm this is an officially sanctioned website by TransUnion once you register start a new report enter the tenants email address say yes that you have a signed application this is very important do not skip the cyant a poor credit screening there are too many privacy laws out there check with an attorney I’m not then pay for the report yourself since you’ve already collected the cash this is okay note this is not sponsored I just highly recommend the $40 option you want the full credit report and the extra $2 to get income insights you may as well once you’ve sent the tenants email let the tenant know hey your application is waiting for you note once you set this up and honestly even with registering you could go from the registration process and the main webpage to sending a tenant their credit report application portal within under five minutes if the tenants fast you can have the credit report back within 10 minutes of you sending this email now I know you’re thinking wait a minute it’s just gonna email them a link or something to fill out I mean they could just put anybody social in there you might be right about that but the tenant gets challenged with not only their social their date of birth but also those regular Social Security check questions like mother’s maiden name did you ever live at this address or that address so it becomes a little bit harder to fake the identity but I’m gonna give you another few steps to make sure you can really protect yourself once the application is complete you’ll get a report back with background criminal eviction history income insights address history and most importantly their credit report I personally disregard the credit score I go into detail in the credit report going into detail in the credit report is actually something that I’m going to delve in-depth in my real estate investing course because there have been cases where I will approve tenants based on what I see inside of the report whereas maybe otherwise they wouldn’t have gotten approved and vice versa sometimes people have high scores and there’s no way in heck I would approve them because of what’s actually inside the report so looking at the score itself I don’t recommend now this step is extremely important it’s very important that after you get the report you call trans unions customer service number and reference the report ID now take your application and ask the customer service rep I’d like to verify the social security number that was used to fill out the online portal application they’ll say okay go ahead give me the social you’ll give them the social that’s written on the paper and they’ll either confirm or deny that this social is accurate I personally recommend writing down the name of the person you’ve spoke with at the customer service center and the date and time you spoke with them and write down a little note verify check whatever now one of my last steps is one of my last challenges for the tenant when everything looks good I ask the tenant to bring their social security card to the lease signing or when I meet them to pick up their security deposit I always pick up security deposits in cash because I’m taking the rental off the market and I want cash or a cashier’s check I do not want a personal check if I’m taking a property off the market when I meet with them they need to bring their actual social security card not a copy nothing then I’m going to compare the name and number that they gave me on a social security card to their application at this point they’ve answered the challenging questions their picture ID matched them sometimes I even asked tenants to bring their passport have a second form of picture ID they actually have the social security card they were able to answer their questions correctly and I approved of what I found in the credit report usually I feel pretty comfortable at this point but sometimes when I’m questioning a tenants authenticity I will take it a step further and this is the bonus tip for an extra ten dollars I will do the same process with Experian just Google Experian landlord tenant credit check it’s only $10 at Experian because it doesn’t give you all of the additional insights but I like running their credit at Experian as well because a lot of credit cards only report their data to experience so somebody could be severely delinquent at Experian but have a relatively good score at TransUnion I don’t know if they crisscross their reports at all I’m not an expert in this I’m just a real estate broker so definitely take my advice with a grain of salt but I really hope this helped you and make sure to smash that subscribe button and click the links below you won’t regret

https://youtu.be/RnkrXihHAco

[checkcredit-biz]

Never Pay For Fico Score!

hey guys Matthew here just wanted to share a really quick tip and I’ve talked about this on other videos before but I just got off a coaching session I have a total of five of those coaching sessions today why because I love spending time with you guys on the phone helping you achieve your goals more quickly and these are coaching sessions with people all from YouTube five today and five yesterday and five tomorrow I mean every single day I’m spending as many hours as I have available to have these conversations and help you guys accelerate now on my last call it was with the gentleman named Eddie Eddie hello I was great speaking with you today we’re gonna make terrific progress together Eddie had purchased three Bureau package from my FICO now he spent $60 to do this and I told him I would have discouraged it had I known ahead of time that he was going to pay for it now you’ve heard me talking about my FICO here on this channel before myfico.com is self-proclaimed the leading source of credit scores and credit reports for lending institutions across the country roughly 90% of the top 100 lenders in the country use FICO so it is an important formula for us to at least be familiar with but not necessarily pay for I would recommend sticking with the free resources that exist today for things like the coaching session that you can get from me by scheduling using the link in the description below free coaching calendar com or for your own purposes and things like submitting applications for debt weapons if you want new debt weapon accounts most of them are going to rely on your overall credit worthiness and they’re gonna look at your credit profile some of them don’t require it but most do and if you have great credit you’re more likely to be approved than if you have less than perfect credit now the target credit score that we’re working towards at all times is at least a seven six zero a 716 above the minimum before we’re really going to get out and start applying for new debt weapons is a 700 or better with a 700 we can feel confident that we’ll be taken seriously as borrowers now some debt weapons don’t require as good of a score as a 700 some might only require 680 and even FHA will allow less some perfect credit scores which is a type of mortgage loan so not all loans require great credit but the better your credit is the better the loan you’re gonna get will be and the better chance you’ll have of being approved for it now with that in mind why might I be suggesting than not to pay for your FICO scores well because we’re a cash flow coaching team we talk about maximizing the amount of money that you have left over at the end of the month and cash flow is one of those things you can easily calculate cash flow is the difference between all of your income in the month - all of your expenses in the month which means that every month your cash flow should be different which is why we rely on averages and you might take six months or twelve or even a longer amount of time like two years to calculate your net cash flow position but really relying on conservative averages to account for all of your spending your necessary spending along with your discretionary spending is really important to know how much is left over in total and if we’re spending money on things unnecessarily like our credit scores and reports then obviously that’s going to contribute negatively towards our net cash flow position on average at the end of each year so why spend $60 on a FICO credit score and report when you could get those credit scores and reports for free from resources like Credit Karma so I always recommend visiting Credit Karma to begin with I find it to be a tremendously user friendly website they’ve got a great mobile app for it and Credit Karma then generates their money through sponsorships advertising and they also get paid based on their recommendations for people to submit applications for various credit card accounts and so forth so they’re earning that it’s a massive profit Center all they’re really getting from you is your traffic your attention and it’s a terrific win-win situation for everybody I love the platform it’s a genius idea now Credit Karma and FICO are completely different formulas so that’s why people will sometimes choose to pay for their FICO scores but before you do that just know that many banks will also provide you access to your FICO credit scores and upon further research a recent collection account that I had posted a video about had a dramatic impact on my FICO credit scores where it only had a very minimal impact on my credits karma scores in fact my credit scores were still above 800 dropped by only about 20 points went from an 828 to an 808 I believe on my credit card on tidge scores versus my FICO scores which are being provided to me by one of my mortgage providers which dropped all the way into the high 600 s thankfully I was successful in getting that collection account removed so make sure you check out that video if you ever have any problems regarding collection accounts just to see how we did it and I do expect that that adjustment will take effect once the new reporting cycle happens where that score should jump back up into the mid 800 s again for FICO but man did it get hit hard and so the only time where I’m gonna really encourage you to pay for your FICO credit scores is if I were in the process of applying for something right now and I knew I really wanted to have at least a minimum of 700 before I submitted an application or even a 680 or 720 or you know I’m gonna do my homework to find out what the best minimum FICO credit score I need to have should be I may go out and actually pay for those spike o credit scores beforehand so that I can determine whether or not submitting that application makes sense right now the last thing I want to do is submit an application and due to a lack of information I end up being declined on the account I’m applying for because then I’ll end up with an inquiry on my credit report that will slow down my progress moving forward and may end up taking me more months than I want it to because I wasn’t patient enough and didn’t do enough homework ahead of time before I submitted that application so very important to know where our credit scores are if we’re in the process of submitting applications but if you’re really on standby for something don’t go out and splurge on $60 worth of FICO credit scores and reports that’s an unnecessary use of your cash flow guys I hope this helped rely on Credit Karma check out all of our other videos make sure you become a subscriber and like these videos if you like these short little tips as I find great information to share with you in my coaching sessions make sure you do smash that like button because it does tell us that you like it and it also gets the word out there through YouTube’s algorithm to other folks we look forward to seeing you on our next video as always until then make it a great day today and take care

https://youtu.be/PoCf0eCb6WA

[checkcredit-biz]

How To Check Your Annual Credit Report for Free

hello fellow wealth builders and welcome back to the true financial this channel my name is dense and today we’re gonna be talking about how to get your free credit report really quick though if you are new to this channel I do like to talk a lot about personal finance investing and retirement to help build your wealth so definitely consider subscribing today and don’t forget to hit that little bell icon to get notifications when new videos do come up alright so first and foremost the most important reason that we want to look at our credit report instead of our credit scores is because a reports are actually what the scores are based off right and so what does what the reports are gonna really tell us are the different types of different types of inquiries that are gonna be on your report things that might be negatively affecting you and then things that you actually didn’t even apply for or we’re requesting but that are on there and that usually can lead to potential identity theft and this can help protect you by noticing them early and in making sure that these credit bureaus stop those from continuing so if you’re not aware there are three major credit bureaus TransUnion Equifax and Experian and if you’re not aware by law these three major credit bureaus actually have to give you a free credit report once a year and so what I personally do what I do like to recommend to other people is every four months to look at one of these credit bureaus and so if you start with let’s say in January with TransUnion four months from there in May you can look at Experian and then four months again in September you can look at Equifax and then by that point in January again you’ll hit that one-year mark with TransUnion and so that can help you really make sure that there’s not some crazy discrepancies in between that whole year instead of just waiting once a year to actually look at your reports so when you actually go to the website which is going to be called annual credit report.com I’ll put a link in the description down below if you’ve never been there before and I’ll have a little picture right here to kind of show what the front page looks like just to make sure that you’re on the right one so when you go there in the very bottom it’s gonna say fill out a request for a free credit report so you go through there it’s going to ask you your personal information and then it’s gonna ask you some questions to make sure that it is you you know requesting this report once you actually get the report for that one credit bureau you’re gonna go through it you’re gonna make sure that there is nothing on there that actually is kind of out of whack that doesn’t make any sense because if they are on there you want to make sure you contact that Bureau and inform them right away that hey this is not something I inquire or did so you want to get those rectified as soon as possible you can also look at the different inquiries that you put on there based off of the things that maybe you’re requesting your credit card or looking at a home loan and then you also want to look at the things that are negative negatively impacting your credit report which can be delinquencies or something that just hasn’t been paid in a very long time maybe you did pay them maybe you didn’t but if that’s the case you want to make sure you contact those credit bureaus to be able to take care of those situations if it was paid for and if not you can you know find out how you can pay those back if you owe anything on a delinquent payment so the reason why this is really important to do every four months is because this will help protect you from that identity theft that we’re talking about if you’ve heard a lot of stories and if you watch the one previous video I talked about the experiment hack there’s a lot of data out there with your personal information so you want to make sure that you’re protecting yourself in your financial future from any of that kind of stuff happening by those thieves getting that information and utilizing it against you because a lot of people don’t monitor their own identity so you know sometimes they’ll give them to different companies to you know to monitor and a lot of times most people will just won’t do anything about it so this will really help you and protect you to make sure that none of that kind of stuff happens and if it does you can get it taken care of early on and help you know stop any huge headaches from happening down the road so as I mentioned you have the three credit bureaus that you can check once every four months you want to make sure that you have them on like a calendar or some type of reminder so that way you remember which one you actually were able to check and when the next one is coming up do so that way you can get ready for them if you have other family members you know young adults or a spouse you want to help make sure that both of you guys are checking your credit reports to make sure there’s no inaccuracies on either of those now the different three credit bureaus will have different types of reports so they’re not all going to be exactly the same some of them are gonna have different pieces of information because different companies will inquire on different credit bureaus so that’s just some one thing to keep in that they’re not going to be perfectly identical some of them might have a little bit of different information um if you notice something really out of the ordinary something that just seems way off you might end up having to check all three of them to make sure that it’s not on all of them and that way again you’re protecting yourself but hopefully that’s not going to be the case and you can just stick to that four month plan if you decide to do so so let me know in the comment section down below what method you’re using are you checking every four months through your credit for your credit report are you doing it once a year are you not doing it at all or are you doing a different method are you paying a company to do the monitoring for you so you don’t have to worry about it so again let me know down below if you enjoyed this video hit that thumbs up button and then also too I just want to thank all of you that are watching because as of right now I’m very close to hitting over 500 subscribers and that’s a huge deal I’ve only been doing this for a couple of months so far but it’s a great honor to be able to help provide a lot of great information to those that are watching and those that are interested in helping build their wealth so if you have any other video ideas that you would like me to do I have some from other commenters but leave those also down in the comment section below so that way I can kind of toss in more ideas that the viewers also like as well so thank you all the subscribers for for watching and if you are Mew this channel hopefully you subscribe today as well and Thank You fellow elf though there’s so much and have a great day

https://youtu.be/hjt3KOVl8UE

[checkcredit-co]

How to Run a Tenant’s Credit Report

make sure to stick around until the end so that you can take away one of the big bonus tips that's going to help you make sure you're not leaving any holes when you run somebody else's credit because I'm going to show you exactly how to run somebody's credit within the next 10 minutes when it comes to applying for your rental property. have you ever thought about doing property management well running somebody's credit is a very crucial part of that well let me give you the story of a new client sherry I'm a real estate broker and sherry came to me and shared this story with me I thought it was the perfect reason to make this video to teach you how to run somebody's credit when sherry moved out of her first house she decided to turn it into an investment property rather than sell it within two days of only a sign in the yard she thought she struck gold she found a doctor from out of the area and a nurse local to the area that she lived in and thought this is perfect I got a doctor and a nurse that want to rent my place what could be better than this they came in their scrubs they were incredibly nice and they gave her credit reports that gave sherry here you go you're our credit reports eight hundred plus were awesome and gave sherry cash right away and said we'd like to give you the security deposit right now so we can make sure we can have the first dibs at this property while we go through the application process and whatever and so nobody else can see it this is pretty standard so to Sherry a first time property manager this sounded like gold here's a tenant that kind of already knows what they're doing and she doesn't really know what she's doing so perfect this made her feel like her advertising work was magic and being a property manager was next to the easiest thing that there could possibly be she knew running credit was important but they already brought their Credit Karma credit reports they looked legit after all they had all the logos they looked like the actual credit karma credit reports and everything was set sherry also knew that it was kind of a hassle to get set up with credit bureaus and she's heard stories about how people had to get their offices inspected to be able to run credit for people so she thought yeah this is good enough well nine months later sherry had her house back accept eight of those nine months she went without collecting a single payment on a property that was renting for $3,000 per month and she spent those eight months evicting the tenants who ended up leaving over eighty thousand dollars in damage because their socials were fake she couldn't even sue them it turns out the only thing these medical professionals were able to dr. were their credit reports so here's exactly how to run somebody's credit the correct way oh and heads up for this method you do not need to have your office inspected you do not need a locking filing cabinet you do not need to go through a lengthy approval process with one of the credit bureaus or some kind of other third party company that is going to set you up to be able to run people's credit we're gonna make it a whole lot easier and you're gonna get it all right now number one the most important thing to do is make sure you get a signed credit application I've got a sample here on screen and I also put a link to this sample application down below in the description you'll find that link right below the link to my real estate investing course which is guaranteed to make you more money than the cost of the course which is pretty inexpensive or your money back you can personally email me when you accept the application from the tenant I highly recommend you take a nap on your phone like scanner pro or whatever and take a picture of the app right away so you can scan it and file it email it to yourself or whatever you need to do because the odds are if you don't do that and you're anything like me you'll end up putting the papers on a pile and you'll scan them six months from now but you may have already lost half of them very important when you take this signed credit application check their driver's license in fact go ahead and scan their driver's license as well I like to scan front and back and then compare the signature on the driver's license to that on the application this sounds extreme and that might make you feel uncomfortable but think about it this way when you're renting out your property the tenants are trying to court you they're trying to get you to rent the property to them so this is very normal you're in control at this point when the tenants have the keys that's when they're in control that's why they say possession is nine-tenths of the law number two collect cash for the credit screening fee do not take a check because if they bounced the check you're stuck paying bounced check fees I've been there also make sure to check your local and state laws regarding the maximum credit screening fees they're different for every state now go to my smart move comm this is an officially sanctioned website by TransUnion once you register start a new report enter the tenants email address say yes that you have a signed application this is very important do not skip the cyant a poor credit screening there are too many privacy laws out there check with an attorney I'm not then pay for the report yourself since you've already collected the cash this is okay note this is not sponsored I just highly recommend the $40 option you want the full credit report and the extra $2 to get income insights you may as well once you've sent the tenants email let the tenant know hey your application is waiting for you note once you set this up and honestly even with registering you could go from the registration process and the main webpage to sending a tenant their credit report application portal within under five minutes if the tenants fast you can have the credit report back within 10 minutes of you sending this email now I know you're thinking wait a minute it's just gonna email them a link or something to fill out I mean they could just put anybody social in there you might be right about that but the tenant gets challenged with not only their social their date of birth but also those regular Social Security check questions like mother's maiden name did you ever live at this address or that address so it becomes a little bit harder to fake the identity but I'm gonna give you another few steps to make sure you can really protect yourself once the application is complete you'll get a report back with background criminal eviction history income insights address history and most importantly their credit report I personally disregard the credit score I go into detail in the credit report going into detail in the credit report is actually something that I'm going to delve in-depth in my real estate investing course because there have been cases where I will approve tenants based on what I see inside of the report whereas maybe otherwise they wouldn't have gotten approved and vice versa sometimes people have high scores and there's no way in heck I would approve them because of what's actually inside the report so looking at the score itself I don't recommend now this step is extremely important it's very important that after you get the report you call trans unions customer service number and reference the report ID now take your application and ask the customer service rep I'd like to verify the social security number that was used to fill out the online portal application they'll say okay go ahead give me the social you'll give them the social that's written on the paper and they'll either confirm or deny that this social is accurate I personally recommend writing down the name of the person you've spoke with at the customer service center and the date and time you spoke with them and write down a little note verify check whatever now one of my last steps is one of my last challenges for the tenant when everything looks good I ask the tenant to bring their social security card to the lease signing or when I meet them to pick up their security deposit I always pick up security deposits in cash because I'm taking the rental off the market and I want cash or a cashier's check I do not want a personal check if I'm taking a property off the market when I meet with them they need to bring their actual social security card not a copy nothing then I'm going to compare the name and number that they gave me on a social security card to their application at this point they've answered the challenging questions their picture ID matched them sometimes I even asked tenants to bring their passport have a second form of picture ID they actually have the social security card they were able to answer their questions correctly and I approved of what I found in the credit report usually I feel pretty comfortable at this point but sometimes when I'm questioning a tenants authenticity I will take it a step further and this is the bonus tip for an extra ten dollars I will do the same process with Experian just Google Experian landlord tenant credit check it's only $10 at Experian because it doesn't give you all of the additional insights but I like running their credit at Experian as well because a lot of credit cards only report their data to experience so somebody could be severely delinquent at Experian but have a relatively good score at TransUnion I don't know if they crisscross their reports at all I'm not an expert in this I'm just a real estate broker so definitely take my advice with a grain of salt but I really hope this helped you and make sure to smash that subscribe button and click the links below you won't regret

https://youtu.be/RnkrXihHAco

[checkcredit-co]

Never Pay For Fico Score!

hey guys Matthew here just wanted to share a really quick tip and I've talked about this on other videos before but I just got off a coaching session I have a total of five of those coaching sessions today why because I love spending time with you guys on the phone helping you achieve your goals more quickly and these are coaching sessions with people all from YouTube five today and five yesterday and five tomorrow I mean every single day I'm spending as many hours as I have available to have these conversations and help you guys accelerate now on my last call it was with the gentleman named Eddie Eddie hello I was great speaking with you today we're gonna make terrific progress together Eddie had purchased three Bureau package from my FICO now he spent $60 to do this and I told him I would have discouraged it had I known ahead of time that he was going to pay for it now you've heard me talking about my FICO here on this channel before myfico.com is self-proclaimed the leading source of credit scores and credit reports for lending institutions across the country roughly 90% of the top 100 lenders in the country use FICO so it is an important formula for us to at least be familiar with but not necessarily pay for I would recommend sticking with the free resources that exist today for things like the coaching session that you can get from me by scheduling using the link in the description below free coaching calendar com or for your own purposes and things like submitting applications for debt weapons if you want new debt weapon accounts most of them are going to rely on your overall credit worthiness and they're gonna look at your credit profile some of them don't require it but most do and if you have great credit you're more likely to be approved than if you have less than perfect credit now the target credit score that we're working towards at all times is at least a seven six zero a 716 above the minimum before we're really going to get out and start applying for new debt weapons is a 700 or better with a 700 we can feel confident that we'll be taken seriously as borrowers now some debt weapons don't require as good of a score as a 700 some might only require 680 and even FHA will allow less some perfect credit scores which is a type of mortgage loan so not all loans require great credit but the better your credit is the better the loan you're gonna get will be and the better chance you'll have of being approved for it now with that in mind why might I be suggesting than not to pay for your FICO scores well because we're a cash flow coaching team we talk about maximizing the amount of money that you have left over at the end of the month and cash flow is one of those things you can easily calculate cash flow is the difference between all of your income in the month - all of your expenses in the month which means that every month your cash flow should be different which is why we rely on averages and you might take six months or twelve or even a longer amount of time like two years to calculate your net cash flow position but really relying on conservative averages to account for all of your spending your necessary spending along with your discretionary spending is really important to know how much is left over in total and if we're spending money on things unnecessarily like our credit scores and reports then obviously that's going to contribute negatively towards our net cash flow position on average at the end of each year so why spend $60 on a FICO credit score and report when you could get those credit scores and reports for free from resources like Credit Karma so I always recommend visiting Credit Karma to begin with I find it to be a tremendously user friendly website they've got a great mobile app for it and Credit Karma then generates their money through sponsorships advertising and they also get paid based on their recommendations for people to submit applications for various credit card accounts and so forth so they're earning that it's a massive profit Center all they're really getting from you is your traffic your attention and it's a terrific win-win situation for everybody I love the platform it's a genius idea now Credit Karma and FICO are completely different formulas so that's why people will sometimes choose to pay for their FICO scores but before you do that just know that many banks will also provide you access to your FICO credit scores and upon further research a recent collection account that I had posted a video about had a dramatic impact on my FICO credit scores where it only had a very minimal impact on my credits karma scores in fact my credit scores were still above 800 dropped by only about 20 points went from an 828 to an 808 I believe on my credit card on tidge scores versus my FICO scores which are being provided to me by one of my mortgage providers which dropped all the way into the high 600 s thankfully I was successful in getting that collection account removed so make sure you check out that video if you ever have any problems regarding collection accounts just to see how we did it and I do expect that that adjustment will take effect once the new reporting cycle happens where that score should jump back up into the mid 800 s again for FICO but man did it get hit hard and so the only time where I'm gonna really encourage you to pay for your FICO credit scores is if I were in the process of applying for something right now and I knew I really wanted to have at least a minimum of 700 before I submitted an application or even a 680 or 720 or you know I'm gonna do my homework to find out what the best minimum FICO credit score I need to have should be I may go out and actually pay for those spike o credit scores beforehand so that I can determine whether or not submitting that application makes sense right now the last thing I want to do is submit an application and due to a lack of information I end up being declined on the account I'm applying for because then I'll end up with an inquiry on my credit report that will slow down my progress moving forward and may end up taking me more months than I want it to because I wasn't patient enough and didn't do enough homework ahead of time before I submitted that application so very important to know where our credit scores are if we're in the process of submitting applications but if you're really on standby for something don't go out and splurge on $60 worth of FICO credit scores and reports that's an unnecessary use of your cash flow guys I hope this helped rely on Credit Karma check out all of our other videos make sure you become a subscriber and like these videos if you like these short little tips as I find great information to share with you in my coaching sessions make sure you do smash that like button because it does tell us that you like it and it also gets the word out there through YouTube's algorithm to other folks we look forward to seeing you on our next video as always until then make it a great day today and take care

https://youtu.be/PoCf0eCb6WA