All Forum Posts by: Elias Gilchrist

@Kenton LeVay yes, it looks like I'll have to pay for bad service and wrong products but it is definitely a lesson learned. Thank you for your input.

Heres my story.

My mentor recommended me a contractor that did want he wanted to do when it came to remodeling my house. The only thing I choose was the flooring. He choose the back splash, cabinets, vanities, vanity tops, and paint. (He was suppose to present to me options that I can choose from which he didn't. Couple this with the fact that everything that was done was done extremely poorly. The contractor only specify the work will be done but not specifics such as the exact paint I want etc. The reason why I stuck with him was due to my mentor vouching for him but I realize that hes just not going to do right by me. The agreed payment was 16k and I've paid 8k upfront. What can I do to fix this situations?

I recently purchased my first house. I had a good contractor lined up to start renovations but now that it's time to do the work. He is too busy to start. It's been a month waiting for him. I'm paying a mortgage and rent because my property isn't in livable condition.

Do anyone know of a good contractor in the Atlanta Georgia area?

@Marshall Downs thank and no need for apologies. I how can I go about learning what variable are needed to do a full financial break down for a rental property? Such as HOA, utility calculator, sanitation fee, and any other variable that might.play a factor in decreasing cash flow

@Keyonte Summers thanks, do you have any suggestion on how I can get a better understanding for calculating rental numbers?

@Brittany King yes, Ive used it before but I would like an in depth understanding on what I'm doing. I don't want to punch in numbers I believe are correct and its reflects as a good investment just to be proven wrong down the line

I've been on the road for quite sometime now. Jumping over hurdle after hurdle to put myself in a position where I can buy my first property.

I have a great credit score and decent amount of savings. Whenever I analyze a property it always seems like I cant afford it. I live on the bare minimum(theres no fat to trim). Can someone point me in the right direction on how to break down the full financial responsibility for owning and living in my first investment property. I plan on house hacking but I would like to be able to afford the house without having roommates as well.

The math is what is holding me back. I question my numbers. Im not sure if I have everything accounted for when trying to calculate all month expenses. That leaves me with the question of can I really afford this property.

you're going to get a lot of different answers on how to build your credit because you didn't give enough information on where you stand. Someone with poor credit will approach this differently from someone with no credit. I will speak on a position of no credit.

Getting a credit card and adding a small charge to it like Netflix and paying it off every month will help build your credit score but it will not do much for your credit history. I remember when I was going to purchase a car and I have a 750 credit score but was denied a loan because I had a weak credit history. At that juncture I went to a credit union and took out $1,000 cash loan put it back in the bank and pay it off using the cash over the course of 6 months. I kept doing this until I was able to borrow $15,000 which allow me to purchase the car. As Sean Ackerman said piggybacking off of someone who has a good credit history and credit scores and make large purchases would be a great way to kill two birds with one stone what if you're going to do this by yourself. while building your credit always keep in mind never spend money that you don't have although building your credit is the practice of spending money that don't have.

1 get your personal finances in order (save for down payment) 2 build your credit history and score 3 education yourself on creative/different to purchase property 4 look for government and non for-profit entities that can help you with the purchase of property