continuing the series on Multiple Streams of Income for Real Estate Investors I wanted to share a little bit more information on how you could incorporate offering Credit Repair Services.
I am sure I don’t have to tell you this, but a good majority of your clients both motivated sellers and tenants could use this service.
The motivated sellers that you have worked with more often than not are facing financial issues and with this often comes bad credit. I bet since you have helped them out of a bad situation you are now seen as a resource for them and they would be great clients to offer a credit repair service to so that in time they could buy another home.
The tenants that you work with are great canidates as well for credit repair services. These tenants may at one time want to purchase a home – hopefully from you. Offering these services to your tenants will help increase your pool of potential buyers.
Now I am sure you are wondering what type of income can I add to my bottome line with Credit Repair…??? On average you can charge your clients between a $50 – $99 enrollment fee and then $19 – $49 a month. This isn’t a huge amount, but what if every tenant and motivated seller you helped worked with you for 6 – 12 months ? This would increase your bottom line.
How do you get started in Credit Repair?
If you don’t have any experience with Credit Repair I would suggest that you look for a Credit Repair company that offers a partner or affiliate program. This will allow you to offer the service by referring your clients to an expert and still getting paid for doing so.
If you have some experience with Credit Repair or would like to obtain experience I would suggest doing a little bit of research on the subject and then set up a plan. Your plan should include an outline of what you will provide, your process and your marketing material.
Here are a few resources for you to investigate on Credit Repair.
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- Consumer Credit Repair Service – Is Something You Need? (helpwithdebtnow.com)