Ep. 61 – More FICO Fun – Some Good News, For Once, About Credit Scores – And More Credit Hacks! 

 November 16, 2021

If you’re looking for a home this holiday season or next year, tune in for tips on how to buy at this time and the Secret Down Payment Assistance Program.

The higher your credit score, the less that you have to pay. If you have a low score, then David Sidoni has some great news for you! There is a new program that is FINALLY going to count your rental history as a POSITIVE on your credit score. Right now, you only get your missed payments counted on your score, and that’s not good. But if you have paid in good standing, the credit beauteous are finally going to acknowledge your time adulting, up to two years’ worth. Listen for that info, and more on FICO score hacks and planning to buy your first home.

More FICO Fun – Some Good News, For Once, About Credit Scores – And More Credit Hacks!

You May Be Able To Raise Your Credit Score Soon By Counting Your RENT HISTORY!

When you’re trying to buy a home, I got to tell you now. You’re probably going to use a lot of four-letter words trying to figure it all out. You’re probably even going to scream the F word a lot. No, not that one. FICO, as in your credit score. That’s the Fair Isaac Credit Corporation. Who the hell is Isaac? Let’s talk about it.

Introduction To Credit Scores

What is going on in my home purchasing planning, folks? You’re not going to find it anywhere else because, unfortunately, no decent realtors are acknowledging your existence or your need for information on how to figure out this whole effing thing. I’m here to talk to you about that F-word, FICO. We’re going to dive right into some awesome news about your credit score. This is interesting and I’ve been saying it forever that your rent is not doing anything for you but guess what? Your rent might not be worthless. I’ve talked to you about this before but I’m going to get deep into it because now it’s becoming official. Did you know that your rent history does not count on your credit score unless you do something special?

Credit scores suck in many different ways but this by far is the worst way. You pay $1,500, $2,000, $3,000, $3,500 a month, every single month in rent for 1, 2, 3 or 5 years but that does squadoosh for your credit score. Meanwhile, if you miss a $25 minimum payment on your credit card that you got back in college in the quad, do you remember the one that you signed up for because you got it for free because they were going to give you like a Frisbee or portable phone charger or something? That minuscule payment that you missed, which by the way, you’re paying 29% interest on. That’s the only thing that Mr. Isaac is reporting to determine if you’re worthy of being considered in his land of all things credit.

Why is Isaac the ruler of that land? I don’t know. That $4 utility bill that you had three apartments ago that you had no idea was on your credit score, that’s going to drop your score but the fact that you’ve been paying that monthly rent at thousands of dollars every month is not counted. Now, less than 10% of renters see their on-time rental payment history reflected anywhere in their credit scores.

The good news is that it looks like it’s about to change. According to a November 4th article in Realtor Magazine. Lucky for you, I’m your personal source of information, all things real estate, your dork in your ear holes. I read this publication along with a whole bunch of others as soon as they got into my mailbox. This article states about Freddie Mac. I should explain to you what Freddie Mac is. It is a big and complicated financial stuff but it’s important to you moving forward.

[bctt tweet=”No credit score doesn’t mean that you’re not credit-worthy.” via=”no”]

The Freddie Mac And Fannie Mae Program

Freddie Mac and Fannie Mae are things you need to know about but you don’t. Unicorn lender is going to take care of all that for you but for your education, this is some new stuff that Freddie Mac said they’re going to start counting. Now, Freddie Mac and Fannie Mae, what they are is their stock-owned Government Sponsorship Enterprises, GSEs, chartered by Congress way back in 1970. The whole thing was supposed to support homeownership for middle-income Americans to help keep the money flowing to all the mortgage lenders and keep our economy going.

In turn, that supports homeownership and rental housing for middle-income Americans. Freddie Mac and Fannie Mae don’t originate or service home mortgages themselves. What they do is they buy home loans from banks and other commercial mortgage lenders, giving the institutions the funds they can use so they can finance more loans. They’re the big bad piece of the whole lending tree and they set all the rules.

Part of that is what they do is they will set certain standards and guidelines. You’ll hear all the time, “The guidelines changed. Freddie Mac changed this and Fannie may set that.” What that means is all the rules of how to buy a house, which is what this episode is about. They’re set by those two big entities. Why are the two of them or the main difference between the two of them is that Fannie Mae buys mortgages from major retail or commercial banks, the big boys, while Freddie Mac obtains its loans from the smaller banks?

In English, what it means is they have government oversight to make sure that lending is as close to fair as it can be with all the banks and the bankers as they dish out the money to the banks as long as these banks will abide by the Fannie and Freddie rules. They set the rules up until the banks, “You want some of our money? Got to do it our way.”

Big daddy Freddie Mac has finally started to start decided to start telling those banks that it’s time they start to count that one huge payment that you make every month instead of your credit cards. Freddie announced a new program to help renters build up your credit profiles and make you see more creditworthy. That’s a fun word but I bet you never thought you were going to want to be in your life. The initiative provides a means for owners or managers of multifamily properties to report on-time rental payments to the three major credit bureaus, TransUnion, Equifax and Experian.

This move that they’re doing, it’s trying to help the portion of 45 million US adults who have no credit score. No credit score doesn’t mean that you’re not creditworthy. It means that you’re probably responsible and you haven’t taken out credit cards. Maybe your role is people base cash so that you make sure you never get in debt. That’s good for you but you’re not getting a score but I know you’re probably paying rent somewhere.

HBH 61 | Credit Score
Credit Score: Freddie Mac and Fannie Mae are stock-owned government sponsorship enterprises. They support homeownership for middle-income Americans. They keep the money flowing and keep the economy going.

Freddie Mac wants to make sure that you’re starting to get some credit for that. Michael DeVito, the CEO of Freddie Mac. He said this, “Rent payments are often the single largest monthly line item in a family’s budget but paying your rent on time does not show up in a credit report like a mortgage payment. That puts 44 million households who rent at a significant disadvantage when they seek financing for a home, a car or even an education. While there remains more to do, this is a meaningful step in addressing this age-old problem.”

That’s what Michael DeVito said. They’ve got some new fancy tech and that was the big thing that they said when they made this announcement. Beware because it’s tech-related and it’s automatic. It will automatically unenroll renters who have missed payments. If you’re thinking about buying a home and you’ve got a rough month, I don’t care. Beg, borrow or steal but do not be late. To make sure you understand, it’s not that five days late. It’s 30 days late. That’s going to be a big problem for you.

Now, the senior director of equity in multifamily housing, that person at Freddie Mac, Alexis Sofyanos. Here’s what Alexis says, “At present, the most common way for rents to be reported to credit bureaus is when there is a missed payment that’s gone to a collection agency. Freddie Mac wants to flip the script so that renters would pay their rent on time in full each month, get credit for doing so while also putting in safeguards for the most vulnerable.” I couldn’t say the last sentence and I don’t even know what that is. Focus on the first part. They want to start acknowledging the renters who pay their rent on time in full.

Now, in the summer of 2021, I heard about a credit specialist that potentially can do this for you before they made this big announcement in November 2021. I even mentioned this to you a few years ago in the show because I’ve been hearing about it for a while but the problem is finding one of those “credit specialists.” A lot of those folks are scammers and it’s tough to find good ones because it’s a weird business. A lot of the stuff you can do on your own and you’re dealing with credit bureaus. It’s tough to repair your credit and find someone reputable to help you.

The Good News

As I am doing this, I am hearing there are some good companies that will do this for about $200. Now until Freddie Mac starts doing this and we hear that this is happening full time. If you’re thinking about doing something in the next 3 to 6 months, end of 2021 beginning of 2022, you might have to talk to one of these specialists that can get your historical rent payments counted. As soon as I find out who they are, I will let you know. I’ll put it on the show, on my website and I’ll even ask them to come on the show to see how we can make this happen. The cool thing is I want to let you know this is going to be automatic sooner rather than later.

Regular FICO reporting in the future and that is awesome. It can help you gain credit or raise your credit. It’ll go back as far as two years in history, adding history and good reporting for anything as long as you don’t have any 30 days late. Good news, this can be huge for getting more and better options with the type of loan products available to you when you’re buying your first home and getting you a better interest rate on your mortgage, higher credit score, more options and a better rate.

[bctt tweet=”The higher your FICO score, the less that you have to pay.” via=”no”]

It’s been reported that this can boost up to 40 points for people with minimal revolving credit because that means you don’t have a lot that they’re reporting but now, they’re going to acknowledge that you’ve been a responsible individual and you’ve been adulting for two years. If you’ve got one card or a little bit of credit reporting, you can get big points. When you get those big points, that’s going to save you a lot of money or maybe even take you from not being able to qualify to buy a house to be able to buy one in a couple of weeks.

This is exciting and lots of stuff through the show where I’ve talked about some other things. Another F-word detail with your FICO that I want to make sure if you haven’t read it, you go back and check it out, episode 56. It’s an advanced FICO hack. I got an email from Dino, the lender extraordinaire who taught me about this technique. He had a client go from a 640 or a 660 to 700 by using the hack from episode 56.

What’s The Deal With FICO?

Why is this F-word so important? What’s the deal with FICO? If you are going to take the advice that I’ve been giving or talking about, maybe considering doing lower than a 20% down payment even though all the old-timers going to freak out and say that you’re going to pay PMI or MI, which is Private Mortgage Insurance or Mortgage Insurance. That’s a little extra payment that the bank makes you do if you’re lower than 20% but I’ve been screaming from the top with a low-interest rate where they are now and the market running away from us, you probably should consider getting in with a lower down payment instead of waiting because you can leverage the low-interest rates.

The whole thing with PMI is you have it until your home reaches 78% to 80% of the loan to value. In other words, when you’ve got 20% to 22% equity in your home, how do you get equity in your home? You sit in it, you pay your mortgage and you watch the market go up. That simple. What you’re going to be doing is you’re going to sit in a home. If you put 5% down, you have 5% equity because you have a loan on 95% of it. If the house goes up 3% or 4%, then you’re up 8% or 9% plus what you’ve paid into the house on your principal because you will be making a payment every month. Once you get to that 20% to 22% of equity, you can call them up and you can say, “Get rid of my PMI.” In the meantime, I’ve done a whole episode about using that PMI payment to realize that it’s still a better value for you to think about purchasing a house than paying your rent.

That PMI payment that I said, that little extra payment that’s going to freak out your grandma and grandpa, it’s low now because of the interest rate but it’s based solely. Your individual payment is based solely on that damn FICO score. Whatever your score is, the higher the score, the less that you pay. For those of you who have been looking at your credit on Credit Sesame, Credit Karma, free credit, creditbuoy.com, whatever it is. You probably know your score. That’s not the right score but you know a score. The system works in twenty-point tiers. You can get a home loan as low as 580. You’re going to pay the most in PMI and it’s going to be hundreds of dollars. It’s going to go up. Every time you go up 20 points, 580, 600, 626 and 640. For each twenty-point tier, your PMI cost is lower.

If you’re above 760, you’re paying peanuts. The math means, why would you even put 20% down? If you have it, put 10% down. Pay the measly $50 or $60 PMI and keep a 10% down payment in the bank. This is also another reminder, anything above 760 in your FICO score is gravy. If you’re one of those people freaking out thinking, “I got to have 800. I dropped a 795.” You’re fine. You’re still 35 points ahead of where you need to be. You don’t get less of an interest rate or less of PMI when you’re above 760. That’s the highest tier.

HBH 61 | Credit Score
Credit Score: The new program is tech-related and automatic. It will automatically unenroll renters who have missed payments. So if you’ve got a rough month, beg, borrow, or steal, but do not be late!

That’s a little intricate way that having this higher scoring in using these hacks can help you save money but know anything you’re doing to raise your score helps you in so many different ways. Not only does it mean you’re going to have a better shot at getting a low-interest rate at a lower payment. You’re also going to get a better shot at better loan products. It also means you’re going to have a complete lower payment because you’re going to have a lower PMI or MI than mortgage insurance because the higher your credit score, the lower that payment is.

It’s based solely on your score. That could mean that you could be buying sooner than saving up 20% down while you’re still paying your rent despite what your parents, your relatives and Dave Ramsey keep telling you that PMI is the devil so you got to save up 20%. That is old skool. It’s simply an antiquated piece of what they like to call safe advice, what I like to call now, outdated and dome. I’m going to go into this later and deeper in another show. I touched on it but waiting for that 20%, mathematically, it doesn’t make sense. There are too many things working against it.

In a new world of low-interest rates, rising inflation and what we all know about those skyrocketing rents. They’re going up at a pace that most old savings techniques. If not all of them, they don’t work. The math shows that the advice of waiting percent will not only build your wealth and hold you back. It’s probably going to cost you money if you’re paying an average rent.

While you’re trying to save 20% to buy a home someday, you’re going to pay the same or often less than your rent with that mortgage payment. In the meantime, the price is going up so you’re missing the appreciation and your rents are going to be up every single year. It’s going up to the moon and the final piece of the puzzle is that borrowing money now is the cheapest in history. Even though prices have been going up since 2012, the affordability of homes is still relatively low because the affordability is based on your monthly payment, the monthly payment is based on the interest rate and the interest rate is low. If that doesn’t compute for you, I get it. It’s a lot, especially if you’ve never thought about this stuff but if it does then work your credit up and be sure that you have a bigger plan besides, “I’m going to pay off everything and then don’t start saving.”

How To Build Your Wealth

With good credit, you can keep some of your debt and still make a smart and safe purchase in the historically safe realm of housing. You do that to offset the large monthly payment. It’s the output that you do every single month because the sooner you start putting it towards yourself instead of your landlord, the earlier you start growing your wealth. If you can do that, start that process. Get more wealth in the long haul while you continue to pay off some of your debt. This philosophy, which can be greatly helped with a good credit score, is all part of my current mission.

The main goal for the next 2 or 3 years while the market is still moving, I want to be sure that everyone who has a savings plan working to buy a home is that they take into account the rising appreciation number and the rising interest rate numbers and you pack that all into your equation. The bottom line is the math shows for most people. The sooner you can do it, the better due to potential equity games and also secure the lowest interest rate for monthly payments.

[bctt tweet=”The sooner you build your wealth towards yourself, instead of your landlord. The earlier you can start growing your wealth.” via=”no”]

The savings you get by taking advantage of getting in and catching some appreciation and getting the low-interest rates before they go up that’s going to offset most conservative saving plans are safe and they are safe. They’ll end up being safe but it’s going to cost you money and you have the potential to provide more income and more security for yourself by getting into an asset that you’re going to live in for the next few decades. One of the things I tell people all the time is when you’re working on your credit, make sure that you’re working on your debt reduction and your savings. This is the way it is.

You need to work everything all at the same time, credit, saving, debt reduction, talking to a lender and starting to look at neighborhoods. If you do it all at the same time, all the pieces of the puzzle will be there. I have so many people that do 4 of the 5 steps. They get there and they go, “I had this thing on my credit I didn’t know about,” or they go, “This big loan I have is going to cause me a problem. We got everything all set but then we found out the neighborhood we want, they’re sold. We could have done it last month.” When you prepare, prepare everything at the same time like, “Here it is. I have this in my notes right here.”

Someone who tried the personal loan thing that I was talking about from episode 56, the credit did go from 640 to 700 in the last few months. By using that magic trick, they up their credit score and they’re available to move forward and now they have more options. They had their savings and debt in place. They knew what they wanted to do. The only thing they needed was a credit. Most people think credit takes time and it does but with this trick, they’re all ready to go.

It’s an advanced magic trick. It’s not for everyone but you might be surprised at how large a loan they were offered. The personal loans out there, they’re offering huge loans at decent rates. There’s a hack that I’ll help you out that will increase your available credit because you’re going to pay off those credit cards. Not close them but pay them off. You’re going to see huge savings because you’re going to have a lower monthly payment.

Authorized User

Now, speaking of magic, you can’t talk about the F-word without talking about the magic trick for your credit score, which is authorized user. It’s absolutely the most underutilized hack, trick, tip tool, technique, a thing you should do. It is the most underutilized credit hack. It’s very simple. Credit history is a big part of your credit pie. If you Google it and look at the pie chart, credit history is 15%. There is one thing you can’t do anything about. You can’t increase the years that you’ve been alive.

You can’t make time, go faster and get more credit history on your current credit cards, but you can so simply add 10, 20, 30 or 40 years of credit by being an authorized user on someone else’s card. You can and it will not affect the person’s credit. I did it with my dad. I had explained to him in multiple different phone calls that it would not affect his credit. I still to this day think he doesn’t believe me but he did it anyway. It will not affect their credit.

HBH 61 | Credit Score
Credit Score: The whole thing with PMI is you have it until your home reaches 78 to 80% of the loan to value. In other words, when you’ve got 20 to 22% equity in your home

I got 35 years of credit history. My dad’s had no danger. It has nothing to his credit score and my score went up, I think around 40 points. I’m an authorized user on his card. That one card is the only way that I got connected to him. I explained to him, “This is the way to do a dad. I get huge history.” If you’ve got parents or even better grandparents or if you want a partner trying to do this together, one of you has had a long history of credit and the other one doesn’t, you got to take the lower score when you do a mortgage. You have to take the lower score.

If two of you are buying a house, the low score is what you get, not an average. Become an authorized user on the one with decent credit and pump up those scores. You don’t ever have to get a credit card. All you get is their great credit history. Now, if I missed payments on my card, it has nothing to do with me being on dad’s card. That means my score goes down a little bit. He’s not affecting any way because I never use the card that I got authorized on. It’s just there. That’s it. The authorized user is magic.

Building Your Credit

I’ve talked about this in other episodes. If you have questions about it, reach out to me but I’m telling you, this is a huge magic trick and it helps you with the awful F-word. We’ve learned that you can use your rental history, hopefully, in the very near future to your advantage and grow your credit score. We’ve also learned that you can use friends or families’ older credit history to grow your credit score. We’ve learned that your credit score will affect how much or how little you need to make in a monthly housing payment and figuring out how to make that number manageable. That’s the most important thing I can tell you in all the episodes of my show. How do you make your monthly payment manageable? You have to know all the secrets and the things you could do to make it happen and get it to the price you’re comfortable with.

That’s the starting point. It’s not fun. It’s not sexy like I like to say. It’s not super exciting. I know it sounds weird but people are coming to the show all the time and they’re excited to know about all the ins and outs of buying a house, the HGTV on the brain. They want to know about inspections, appraisals, down payment options, loan options, how do I write an offer, bidding wars, tax benefits, creative math, financial help, down payment assistance, picking the right realtor and lender. They want market updates, forecasts and trends. They want to know how do I shop for a home on the internet. They’re asking me all the time, “Give me the tips, the tricks, the tools, the insights, the secrets and all the hacks.”

Planning & Preparing

If you’re looking for all the stuff I’ve learned over the years and the thousands of first-time buyer transactions and referrals that I’ve helped with, I have done that. It’s all on the show but since we’re talking about credit, I want you guys to focus on the big trick to this process, no matter what market we’re in, especially in a rising pricing interest rate market like the one we’re in. At the end of 2021, the sooner that you believe in yourself and you realize that you want to do this and you’re going to do this, it’s no longer if you can buy a house. It’s when you can buy a house. Here’s the big trick.

You can learn about all this stuff that I mentioned, the inspections, appraisals, loan options and market updates, read and learn all that. That’s wonderful but that’s learning passively, so you’re ready. The big thing you need to do is start now to prepare. I talked about all those things. You can go back and read. If you go back and you read to where I interview people who did this, all the audience that came on the show, you’re going to start to hear a common theme with them, planning and preparing. Reading and learning about all that other stuff is great and you won’t be so freaked out but planning and preparing is something you can do every single day so you can do this sooner, better and with more options. You’re here. You’re reading this. You’re going to do this. Why on Earth would you read this when there are so many other entertaining options out there?

[bctt tweet=”The more that you plan, the better prepared you are and the more options you will have.” via=”no”]

You want to do this so let me give you some big advice for your sacrifice to have to read to me. You obviously have a desperate desire to learn. The more that you plan, the better prepared you are for when you do this, the more options that you have. Go back, read to those who’ve done it. Some of them had to squeeze into their home and barely got done at the last minute because they didn’t prepare correctly but they still got it done. If you’re not going to go out and look at homes and start writing offers, you can be prepared so that when you do go looking, you’ll be in a position with more leverage, more options, different ways to do it. Save more, get your credit higher, know your loan options and know your buying options.

Are you looking at condos, townhomes, houses, fixers, turnkey homes versus fixer homes? What are the price differences? Prepare for it all and you’re going to have far more and far better options. It’s different ways to do the trigger. If you find something that you want to do, you’ll be able to maybe stretch a little bit and make it happen. You can do this and you will have some difficult moments but there’s no way you’re not going to have crazy difficult times. I can tell you this, you’ll reduce the number of them by preparing all of it, the credit, the saving, the debt reduction and the researcher. You’re prepared for all of it and at the same time, you have to do it all at once.

Jumping Behind The Wheel

The longer that you prepare, in other words, the earlier that you start, the better position you’re going to be in. Use all these episodes to be prepared. Trust me, no matter how many hours of blabbering I laid down on the show, you’re still going to have a wild ride for that first home purchase. It’s still going to have some bumps that I’ve never even heard of. It happens every single time. Don’t try to download my knowledge, jump behind the wheel and drive this car. Don’t think you got it.

If I extend that metaphor, the car that you think you can listen to me, jump on in the wheel and drive is not like a car that you’ve ever driven but a great unicorn team of a realtor and a lender, we have driven this crazy souped-up high-performance machine every day. Those unicorn folks can help you on several fronts before you’re ready to look at homes. We, the unicorns of the realty world, care about first-time buyers.

While we are driving and you’re in the passenger seat, we know that there’s no way it’s going to be an oval track every time. We know the tracks are never going to be the same. Sometimes there’s going to be some random enemy artillery being shot at us while we drive or there’ll be non-paved roads, quicksand or aliens shooting at us from the side of the road while we’re running out of gas and we need four new tires. That’s what it can feel like sometimes. When we get in the car and drive, it’s not up to you to be behind the wheel. It’s your first race. You can’t be expect to know how to handle this rocket of a car while we’re driving. You don’t know how to evade the potholes, the quicksand, the jello on the road or the devious sellers and realtors because they’re out there.

The reason I tell you all these secrets and want you to prepare is not so you can jump behind the wheel and drive. It so that when you’re sitting in the passenger seat, it’s not such a surprise to you. You’re not sitting there freaking out while you’re going on this death ride. I’m preparing you to be that passenger. If you prepare your credit, your savings, tax returns, debt and loan options then we’re going to have an easier route to drive. If you’re prepared well, it’s like we took the shortcut at the fork in the road. I can finish the track on the left. It’s bumpy and a lot of crazy stuff out there but if we’re all set, I could turn the car to the right then we can cruise on home.

HBH 61 | Credit Score
Credit Score: Borrowing money right now is the cheapest it’s ever been. The affordability of homes is based on your monthly payment. And the monthly payment is based on the interest rate. And the interest rate is low.


As a reminder for you, if you’re ready for the free advice on how to plan, this is why I started the whole show. About 25% of the realtors and the agents, whatever you want to call them out there, are experienced realtors and agents. They still like to work with first-time home buyers. I’ve even found some teams out there. I know I’ve told you before. I’ve warned you about the teams that are going to pass you off to the rookies and the novice people and you’re going to get crappy service. I have found some unicorn teams that have helped several audiences buy houses. Why? They did the crazy thing of training their buyer’s agents correctly. It’s unheard of. I know they’re there.

Some of the buyers have chosen to be buyer’s agents and the whole team works together. It’s a great position for you as a first-time buyer because you’re walking into an entire team that wants to be behind you. The other goal was to get you to that other 25% of realtors out there who are experienced but work with a few first-time buyers throughout the year because they have a relationship-based business. They’re not looking at you like a number. If you’re out there and you’re ready to work with the best and find an agent or a team with a great unicorn vibe then these folks are there and are going to help you and help you plan for free however long it takes. That’s a big difference.

If you want one of those teams, email me, text me, DM me at [email protected]. I’m working on the site now so you can always try [email protected]. Ask me for a unicorn in your area. We got 187 people working with unicorns now. About fifteen people get ready to close. You can increase your options and potentials and you can go from an “if you can do it to when are you going to do this.” Listening is passive. Reaching out is the action step. I’m stoked that all of you are doing all these things on your own but I’m trying to help you all realize that I’m giving you the secret hack. You can find a unicorn team that’s going to help you for free. They’re going to give you the roadmap.

We all know, the unicorns know that we’re going to get paid someday so there is no catch. We’ll work for free for a long time. We know you’ll be cool. Maybe you’ll perhaps text this show to your friends who need help with their credit. That’s cool because then I get to know another person. They keep reading and eventually, things work out. We know that we have worked for free for a long time. You could be in a big lease when we got to go to the end of your lease, six months or even a year or two.

HBH 60 | Holiday Season Home Buying
Credit Score: Credit history is a big part of your credit pie. You can’t increase that because you can’t make time go faster. But you can add 10, 20, 30 years of credit by being an authorized user on someone else’s card.

During that whole time, if you’re enjoying working with a realtor team that’s giving you attention, you might not be closing on a deal and helping them get paid but you’re probably going to go to your friends, “This person is dope. He gives a crap about me. Even though he/she/they don’t get paid until I get the keys next year, they’re helping me out.” That’s it. No tricks. Some realtors live by this and they’re out there. Not all of them and definitely, not many of the ones that work with first-time homebuyers but the unicorns do and the unicorns are out there.

They’re not easy to find but they’re there. That’s why they’re called unicorns. You only do this once and it costs you nothing. Even when you close, it costs you nothing. Seller pays for your realtor, unicorn or not. Don’t try to drive that car on your own and don’t try to prepare on your own. I promise I’m going to keep giving you all the information you could ever want and for you more passive audience out there waiting to call, text, DM or email me, no worries. I’m going to keep spitting this stuff out but the longer you wait for professional guidance, the less prepared you’re going to be when it’s time to write offers and the less options that you’re going to have.

You still might do it and you still might get that home but with professional preparation, you can do it better, cheaper and easier. You’re still here. You’re still reading unless you fell asleep and the episode is by your head. That’s weird. If you’re on the treadmill, if you’re driving to work, if you’re biking to work, you’re still here. You want to do this. The moral for this episode is to do it right because you can do this.

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This podcast was started for YOU, to demystify things for first time home buyers, and help crush the confusion. After helping first timers for over 13 years, I knew there wasn’t t a lot of clear, tangible, useable information out there on the internet, so I started this podcast. Help me spread the word to other people just like you, dying for answers. Tell your friends, family, and perhaps that random neighbor you REALLY want to move out about How to Buy a Home! A really easy way is to hit the share button and text it to your friends. Go for it, help someone out. And if you’re not already a regular listener, subscribe and get constant updates on the market. If you are a regular and learned something, help me help others – give the show a quick review in Apple Podcasts or wherever you get your podcasts, or write a review on Spotify. Let’s change the way the real estate industry treats you first time buyers, one buyer at a time, starting with you – and make sure your favorite people don’t get screwed by going into this HUGE step blind and confused. Viva la Unicorn Revolution!


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You Might Also Be Interested In:

Ep. 234 – Interview With Yadi and Victor – Dreamed Of Homeownership And Found A Way
Ep. 230 – NAR Lawsuit – The New Rules For Real Estate And How To Buy A Home – PART 1
Ep 229 – What Is A Unicorn Real Estate Team?
Ep 228 – Interview With Andrew And Melissa Who Did NOT Need 20% Down To Buy And Bought Their First Home In A Matter Of Weeks!