All Forum Posts by: Caesar Valle

So it's been almost 2 years since I last posted and I thought I would give an update on my situation for others who might be in a similar situation. When I made this post I was at a 545 fico score and now it's 706. over the past year I've basically disputed everything that was hurting me. I was able to get all of my delinquint accounts made current except for 1 account that is showing 30 days late only on one bureau. So answering my own question yes it CAN be done.
-Caesar

I have a question. So this past year I've really come around a long way with keeping up and mantaining my credit score. I'm kinda young and made a few mistakes with my credit cards. Who doesn't? So I had about 3 accounts that I've defaulted multiple times about 2 months in a row late 30 days, the next one was 30,60,90 . 30, 60, 90 and another one just one late month. That's pretty much all that is wrong I don't have any collection accounts or anything so would do you think it's possible to reach a 741 credit score and be eligle for those (excellent) credit people credit cards. I'm about a year from that whole situation. Will I be able to reach that if i stay consistant or will that not even be possilble till it falls off 7 years from now?

I was just wondering about when negative items fall off someones credit report? I understand it might be different for late payments vs. voluntary credit inquiries. Anyone know how long it takes for them to flush out? Whenever I order my credit report it it shows payments for the last 2 years up to the current month. So if I had some rough times 6 months ago do need to wait another year and a half to half the late payments fall off? I've already disputed and had removed pretty much everything else that wasn't mine or was incorrect the only thing that is hurting me at this point is the late payments about 6 months ago. Any ideas?

From what I understand, and I'm still learning as well so correct me if I'm wrong. A bird dog is someone who like you said finds profitable properties for wholesaler/investors and they are paid if the buyer closes on the deal. Typically a flat-rate that they have already aggreed upon somewhere between 500-whatever reasonable. Theres always that question how do I know if I will get paid. I'm sure theres forms for that type of stuff that an attorney can draw you up and I'm pretty sure theres a form on this website too. Your check doesn't come out of closing it comes from the investor/buyer. And no you do not need a license. You are not involved in the closing as a birddog. The idea is that if the investor values your relationship in providing him profitable properties than he'll defianately want to pay you to keep you bringing him deals.

Here's a contract on BP for birddogging. Remember to get it reviewed by an attorney in your state before using it.

http://www.biggerpockets.com/forms/bird-dog-agreement.pdf

Heres a link that I was checking out a while ago it really helped me.

http://forums.biggerpockets.com/viewtopic.php?t=3810

-Caesar

Thanks a lot Wheatie. :)

I was doing some research few weeks ago before the website got updated and found a very useful thread that had links to a lot of other threads that Ryan Webber made like 2 years ago and was wondering if anyone could help me retreiveing those links. Or if there was a way to search them my topic number.
here's the link: http://www.biggerpockets.com/forums/79/topics/6100-how-about-a-course-or-book-on-wholesaling-but-something-?highlight=how%20about%20a%20course%20or%20book
Also I apoligize if this is posted in the wrong area.

Should we get an LLC setup before stepping into REI? I'm still learning and was wondering if it's imperative to have this set up before even getting started? At what point did you guys set up an LLC?

Great thanks for the clarification.

When your intent is to wholesale theres always that risk of someone else snagging up your deal before you close right? I was a seminar a while ago where the guy said that after you put a property under contract you can somehow cloud the title so someone else and the seller can't come up and close on your deal. It was some affidavit that his attorney wrote up for him. Does anyone know anything about this? Or is there anything else you can do to protect yourself from having a deal slip out from under you?

Awesome thanks guys, this is already very helpful. I'm going to check out some of these clubs. I'm planning on making my first deal here very soon. I'll keep you all posted!

-Caesar

Thanks again!