I know many people on this site don't obtain traditional financing for their RE deals. But just in case you do or have teenagers that may be interested in building credit and may want to invest with traditional financing one day, here are some suggestions:

Apply for a business license (maybe $25). Once you have one for two years, its easy to obtain "Stated Income" Financing. Usually a CPA letter stating that you have filed taxes (whether a loss or profit - doesn't matter, they don't need to mention it) for the last two tax years will work or a copy of your business license.

Also, if you have teenagers or someone who needs to improve or build their credit. Add them to your account (assuming you have a good one that you pay faithfully or maintain a 1/2 balance or less that the credit line approved for) or someone else in agreeance. You don't necessarily have to grant them access for usage on the account.

When my oldest daughter was 19 and wanted to buy a car on her own. She had a very difficult time trying to get financing, even though she had a decent paying job. She has great credit now, but had I known about these strategies when she was 16, she wouldn't have had any problems getting financing at a decent rate.

Lesson learned . . . when my other daughter turned 16 I added her to my checking, savings and credit card accounts. And she applied for a business license. So by the time she is 19 she will have established credit history, will have a two year history of being a business owner and will show assets behind her.

GREAT news for her, she just got her notice yesterday, of acceptance into the USC Summer Program for High School Juniors. She'll get to earn College credits, experience dorm life and see what its like to be away from mommy.

Hope these strategies are useful to at least one person.

Dana