All Forum Posts by: James Nix

 And you are a perfect example of why people are a little hesitant to post on here. This happen 8 yrs ago I was young and made some mistakes imma totally different person now. Furthermore, if somebody ask for help give your opinion to try to Help them not make fun of there situation or just don’t reply at all 

 On credit karma this is exactly how it’s on there 

Opened: March 12,2012 (6 yrs, 1 mos)

 See that’s the thing the debt is actually 8 years old (2012) but it’s showing it’s only 6 years old. I guess that’s the last activity date on the debt. I never was against paying it off I just read exactly what you said about paying on it affect my credit in a negative way that’s why I wanted to know should I just go in with trying to pay a reduced amount on it 

 If You were to go this route what would be your start off negotiation price for a reduced amount on a $4700 debt? 

 Never said I wouldn’t just was asking what would be the opinion of others on what I should

Hey Everyone,

I'm currently in the process of looking for my first house hack on a duplex or a triplex. I'm planning on getting a FHA loan and are saving up for the down payment and reserves right now. But the thing is I have a 6yr old eviction on my credit report for $4700 which I don't know what to do about it going forward. I been doing alot of research on credit and cant seem to find the right solution. So my questions is

1. Should I call and try to negotiate the debt to pay a lump sum for it? ( also what would be a reasonable amount to start off with the negotiating to offer on that amount of debt?)

2. Should I go with a credit repair person to take care of it being as tho they are more eqipped with the knowledge to negotiate better? (This is the only thing that I actually have on my credit that's in collections)

3. Or should I go with just getting 2 or 3 secure cards  to start building my credit and ignore taking care of the debt (credit score-610)? (Because I have read that if I call to negotiate a old debt then it can become current and affect my credit in a negative being as tho I think its not affecting me now since its 5 yrs old)

I do want it off but Honestly I just don't know how to go about it. Any help would be greatly appreciated and thank you in advance for any suggestions      

Just curious, can you look up info such as if a person ever been murdered in a property your looking to buy like you do for taxes and etc? So I can try to avoid a situation like this 

@Brie Schmidt you really just helped me out with another problem I had lol. the thing is I wanted to get another property within a year period of the first property and i don't think I could save up a 20% down payment for it in that time. But i didnt know it was another low down payment loan out there besides the FHA

@Brie Schmidt thanks , and you answered it right I just asked it wrong. I should make sure its a good deal as an investment because I know I will be moving out and renting both units out in the future. 

Hey everyone

Ok so I'm analyzing a deal I'm interested in right now. My first deal will be a FHA loan so I will be living in the property with the tenant. The property is a duplex and as I'm running the numbers I have come up with a problem I cant seem to figure out. Should I be analyzing this duplex with the intentions on losing a few bucks a month (i.e $100-$300) of the cash flow since I will be living there and therefore will be contributing to the expenses? Or should I be running the numbers so conservative that the tenant will be covering everything? Which will make the a deal harder to find.