In this episode of the Alchemist Nation Real Estate Podcast, I talk to Marlon Del Villar who is a credit repair specialist based in Massachusetts, an investor, and a real estate agent. Before Marlon came to the podcast, he was talking about adding value which seems to be a tagline in our businesses which is really the truth, you have to add value and that which has no value is removed. So we’re constantly asking ourselves how do we add value in order to stay in the game. I wanted to know what things he has done to add value daily. He says that it starts with us because you can’t add value if can’t add value to yourself, so he believes that he started to value the moment he started investing in himself because you can’t give something you don’t have. He invested in himself by reading a book and reading his bible, getting himself in a better situation where is able to help others with his knowledge. Sometimes people think that they have to be perfect or they should have a master’s degree in order to help others, people are now in the information age where you can go to Youtube, learn a skill, put it into practice, implement it and if it works, you can go ahead with that information to help others.
To listen to Marlon Del Villar’s Alchemist Nation Real Estate Podcast on Anchor: #112 Alchemist Nation Real Estate Podcast – Credit Repair & Real Estate Investing With Marlon Del Villar
So going back real quick, I wanted to know what made him decide that he eventually wanted to buy real estate. He says that he got into real estate because of his credit repair business where most of their clients were looking to buy a home yet they had some issues with credit challenges and their goal was to buy a house. 80% of their clients wanted to buy houses and he would just refer them to other agents instead of him getting the real estate license and help them complete the whole process. That is how he got into real estate because of the credit repair business and his desire to help them accomplish their goals because, in reality, credit is a good step, when someone has good credit, his/her desire is to have a good home. So he got his license, put in his effort, and now he is able to help his people transition from having bad credit to having good credit to having a home and building wealth.
I asked Marlon how he got into real estate investing because he is doing multifamily and flips in Tyngsborough, Massachusetts. He says that he has always been a fan of real estate investing though at times it can be scary in terms of approaching and he took a leap of faith and started by himself because everything he does, he put them into practice rather than just going ahead anyhow with the situation. So he started with multifamily where he got himself going with what does it mean to be a landlord? what does it mean to deal with tenants? what does it mean to collect rent? what does it mean to fix stuff? Getting himself involved helped him learn. He bought his first multifamily, moved in with his wife and two daughters, and rented the other.
I further ask Marlon what are the 3 pieces of advice for getting somebody’s credit repaired so that they can buy that first FHA housed, VA loan, or USDA loan, or even conventional where they are going to the bank for their first property owner-occupied. What loan requirements are on the credit side. He says that first things first, know where you’re standing when it comes to your credit scoring or credit report. Review your reports, get familiarized with the information in your credit report so that you know what has affected you. For the 3 tips, he would say 1) Get a copy of your credit report, analyze and look out for any information that isn’t accurate 2) Make sure you have some open accounts like credit cards 3) Make sure you lower the balances. If you go over the 30% of your credit card balances, that is one of the factors when it comes to your FICO scoring, usually, your score is going to start dropping. His recommendation when it comes to open accounts is to have 7% – 10% and if you have less than that, it is even better. The fewer balances on your credit card, the better and it helps you with two things. 1) – Increasing your credit scores. 2) – Help you with the debt to income ratio. The more debt that you have, the less money you can qualify for when it comes to traditional banking, traditional mortgages.
Marlon offers 3 pieces of advice to 20-year-old Marlon looking to start out with real estate.
1) – Invest in yourself by reading books.
2) – Start a business/learn sales.
3) – Invest your money and learn how to grow it.
To register for our Saturday live webinar to start your wealth journey, visit: http://www.gualteramarelo.com/Live
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To get in touch with Marlon text/call 617-992-1870 or follow him on Instagram @marloncredit
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