It used to be that “people” made decisions about your credit worthiness. You knew your banker and your handshake was all the collateral you needed. Those days are long gone, and now a single number – your FICO score – determines your credit worthiness.

Several credit models can be used for this article, however we are going to focus on the Fair, Isaac Company model. Better known as FICO.

Your FICO credit score can be used to determine your interest rate and how much credit a lender will give you. So taking care of your score, and keeping your credit clean will save you money.

Keeping your credit history in good order and improving your rating is not a hard thing to do…but it will take time. Here are a few ideas how to do just that.

FIRST: You need to get a copy of your credit history

You may not have a credit history for several reasons. Maybe you?re a student, maybe you pay all your bills with cash, maybe you have never needed a loan for anything. All this will have an effect on your history.

An easy way to improve your credit history is to get a loan and pay it off onetime. A loan such as a car loan (also known as an installment loan) is generally looked at as more important, and given more value, then a credit card loan.

A second idea is to take a sum of money, let?s say $1000, and put it in to a 6 month CD at a bank or credit union. Then you in turn go and get an installment loan against the first CD as collateral. The final part of this step is to take your new loan and repeat the process 2 more times at a different bank each time.

Let the CD’s mature, paying only the minimum for the 6 months. Once they mature you cash them out and pay off all three loans. Congratulations…you now have a credit history.

SECOND: Maintain Your Good Credit History

Good job – you have paid your bills on time, and do not have high credit card debt. Here’s some ideas to keep your FICO score as high as possible.

You don?t need to close old accounts. (Unless you?re being charged a fee to keep the account open.) Part of the FICO formula is based on the amount of credit available vs. how much you have used.

Here is a thing to think about. Paying off your credit cards every month is good money management, but you may be able to improve in this area. Here’s the scenario: you have a $2000 credit card. Every month, you charge about $1800 to that card. And, every month you pay it off. But here’s what happens – your credit card company reports your credit information monthly to FICO. If they report it before you pay off your card, it looks like you carry a balance on your credit card every month. You may find your FICO score improves if you pay off your credit card at a different time of the month.

THIRD: Repair Your Poor Credit History

At some point there is a very good chance you will have something that causes your credit rating to drop. Don’t panic…poor credit can be fixed. Understand however that the process takes time. In some cases you may need to talk to a credit counselor to assure you address the reasons for the drop as well as remove any future habits that may cause it to drop again.

The most heavily weighted part of your score is based on your payment history. The first thing to do to start repairing your credit history is to pay your bills on time. The mortgage is the most important, followed by installment loans, and finally credit cards.

The next largest portion of your FICO score is based on how you use credit. The fastest way to improve this is to pay down your credit cards.

At the end of all this, make sure you review your credit report. Get one report from all three credit agencies. Read every page. (I know it reads like stereo instructions in Greek) Look at the entries and call and contact the creditors to have them remove any errors.

Your FICO score is an important part of your financial life, and using these strategies may help improve your FICO score. Before making any drastic changes to your finances, consult with a financial advisor.

Recently I came across a program called Real Estate Business Wealth (previously called Turnkey Real Estate System) and it looks to be a real game changer for the entrepreneurial real estate investors out there. If you have spent any time thinking of how to free up your time and create a passive income stream from your real estate business, then you realize how difficult this can be. Now, the website for Real Estate Business Wealth claims that it’s so frickin’ simple a monkey could follow these steps and create passive income. Now I’m not so sure you should go out and hire ten monkeys to work for you, but you get the idea. Ok, enough monkeying around. He doesn’t claim this to be magic. In fact, he admits on his website that in order to get the passive income stream flowing in, then it’s going to require some effort on your part. First though, let’s examine the claims made.

Otto, the developer of Real Estate Business Wealth system, claims that it’s entirely possible for your business to churn out thousands of dollars worth of passive income every month, when you follow the simple steps. You will get:

* Passive Income being deposited into your banking account every month.

* Vacations with the Family to where you want and when you want.

* More Deals – You’ll have the systems in place to double or even triple the number of deals you do.

* 20+ Hours More Per Week – These steps are hands-down guaranteed to give you back at least 20 hours a week.

* No More Stress – No more constant second-guessing and worrying how things are going to go.

Well, I love the sound of that, but what precisely will I get from the system to help me achieve all this? Good question. Here is a list of the major components you will receive with Otto’s Real Estate Business Wealth home study.

* Quick Start Guide – “How to Get Started and Have Your Business Create Passive Income for You”.

* 10 Step by Step Instructional Audios – Develop passive income from any real estate investing business. These audios will tell you how.

* 3-Step Detailed Process that covers 230+ pages of manuals – Addresses subjects such as how to create systems, hire the best people that will run your business for you, monitor you success, etc.

* 10 Audio Interview Training Series – Tutorials and training interviews with leading investors, business growth experts, and strategists.

* Passive Income Templates – Steal the templates and systems that Otto gives you!

* Blueprints – Just like the blueprints of a home, these will give you the visual understanding and show you exactly how to automate your business. Simply plug your business into the blueprints.

* Bonus Information and Materials in addition to a personal phone call consultation with Otto.

Definitely worth making mention of is the compelling two-part “Dummy-Proof” guarantee he gives. The first part of the guarantee states you have three full months “to examine everything, use what you wish, and, if for any reason or even no reason, you want a refund, just return everything and Ill put your money back in your bank account”. The second part states “At Least Automate Your Business So You’re Able to Enjoy Passive Income, or return it for a full refund plus a $500.00 gift!”. That pretty much says it all.

As I understand it, there will be a product launch that will happen around mid-May. And Otto has already stated that only a specific number of clients are going to be accepted into the program and then he will stop accepting orders.

We are currently working to get a personal discussion with Otto about Real Estate Business Wealth and then take that interview and upload it to our review blog at RealEstateBusinessWealthReview.com. Visit us to see the additional review info that is available.

But let me say this to you. If this product provides the real estate business wealth it claims, then you have got to really think about this versus your present business model. Just one deal is worth thousands of dollars and luckily many real estate investors haven’t even heard of this opportunity yet!

Today in nearly every city in the United States there are great opportunities for savvy real estate investors. The current economic conditions have produced a glut of empty, under-priced and foreclosure listings in every price range and all conditions. But it is highly unlikely that prices will remain at these levels forever and now is proving to be a great time to invest in foreclosure listings.

Now while the real estate market may currently be in a downward spiral, it is rather unlikely that it will continue its downward trend indefinitely. Economies and markets do have trends and the current down cycle will eventually turn itself around. When it does the person who invests now and takes advantage of these foreclosure listings will be the person who is ready to take advantage of the increasing prices. Now is the time to purchase real estate and especially foreclosure listings because basically real estate is currently “on sale”.

Right now there are a number of ways to take the opportunity of foreclosure listings and this down market. You can buy a “short-sale”, which is basically when a homeowner sells his own property yet gets a lesser price than what he owes on the note. When this happens the bank ends up taking less but does not have to deal with the problems associated with implementing the foreclosure and taking back the property. Call your local Realtor and look at your local MLS for short-sale opportunities.

Another thing you can do to find great bargains in foreclosure listings is to check out foreclosure auctions. The foreclosure auction is most often held at the local courthouse of the county of the property. Just like any auction the property is taken by the highest bidder. Usually the price you can get these foreclosure listings at is very reasonable as there are not often many bidders. The homes are sold “as is” though so be aware that you may have to pay for some repairs before selling or renting the property.

If the bank has to take the home back into foreclosure they will want to get the property off of their books as soon as possible. Therefore they are often very motivated and will drop the price on these foreclosure listings until they are gone. Most often they will use a realtor so check your local MLS. Occasionally they will do some repairs but sometimes they will sell the property “as is”. Do your due diligence inspections before you close.

An advantage to investing in real estate and foreclosure listings is that even if the market continues to go down it is not possible to lose your entire investment. Unlike making a bad investment in the stock market, real estate will always hold some value. Prices on real estate will fluctuate at times but the prices will come back up. Foreclosure listings and real estate can always be a savvy investment if you invest wisely.

When you invest in foreclosure listings, it is crucial to make sure that you do all of the same inspections and due diligence that you would do if you were purchasing the property to live in. You will be responsible for any repairs. It is also critical to have your funds in order be it cash or bank financing.

Great opportunities on foreclosure listings can be found right now in almost every market in the whole United States. The potential profits are available there you just need to take advantage of the great opportunities in foreclosure listings.

Short Sales are a very exciting form of real estate investing. You can make money in short sales even in a bad real estate market. However, understanding short sales is key to making them work for you.

With knowledge of short sales, you will get more and more excited about your options. Short sales occur between the real estate investor and the lender. You will negotiate a deal with the bank where you pay less than is owed and they give you the property.

Short sale properties are almost always distressed. The property will appear on paper like a lost cause. If this is the case the bank may take a lower payoff for the property. By learning the negotiation skills to short sale, you can buy properties for pennies on the dollar.

Fortunately, it is a fairly simple proposition if you know what to say and who to speak to at the lending body. You will optimize your results by making sure your lender contact is authorized to negotiate. This will help you negotiate with the greatest effectiveness. Once you pay the bank the reduced price, the property is yours.

Lots of distressed property owners love short sales because it can clear their debt entirely. Negotiating a short sale can resolve issues for everyone involved.