All Forum Posts by: Ryan C.

And I forgot, this is not the relationship site, but you need to make yourself happy first. If your question this relationship now, ditch the b***h, move back, get a job and make history. This real estate stuff changes lives. The best part of this, is that it’s a direct result of what you put into it. Get excited about it, research, ask questions, research and continue on. Or not... remember, there’s people who do, and those that sit on the sidelines and wonder. Go get em

Hmmm. I’m thinking jump ship and move back to Harrisburg. Harrisburg I think will be on an upswing soon if not already. At least that’s what my crystal ball is saying.

I’ve done some crazy stuff to improve credit score. It helps if your married. I keep auto loans and credit card debt in my wife’s name so it doesn’t show on my dti. Just buy something and pay it off every month. I have a couple cards that just have 1 account that automatically charges each card every month and pay it off. The best way is TIME. Unfortunately there is no way to speed that up. Make sure you get copies of all 3 of your reports and dispute the ***t out of the bad stuff. Pay your bills on time and keep your utilization low.

Thanks for the vote. I hate to be a downer with some of my replies but hear this: I invest in people. Not just property. Everyday we see or read someone getting sued for this or that, commercials for ambulance chasers, etc. I don’t think there is a set way to protect yourself. I think if you chose GOOD tenants, take care of your properties (sorry slumlords), and have a lot of insurance, you’ll be ok.

Tough with that score. I’m between 700-730 (depending on what score model used) and I’m having trouble getting a conventional. If your score is the only road block, you may be good, but lenders are really good at throwing up new road blocks.

Know a guy who owns multiple properties in multiple states, at least 100 total all in his name. When asked about why not in an LLC, the answer “I would rather defend one entity than two.” Sounds good to me. Have a good lawyer and a large umbrella policy. The rest is up to god, because depending on which way the wind blows, a court of law may not be in your favor that week.

Hey BP community, can someone please refer me to a small bank that writes commercial loans with a fixed rate for 25 or 30 year term? I have read some postings here that some of your lenders (not many) do this and I can’t find any that will do fixed.

They have to give you a written reason for credit denial. See what the reason is first. If it’s something you can control, fix it and move to a different lender. Wells Fargo sucks anyway, your better off in my opinion.

Ok I’ll bite... I just spent too much of my life reading this but what is done is done. This brings me to this song my kids listen to from Disney’s Frozen movie.... “Let it go, let it go Can't hold it back anymore. Let it go, let it go Turn away and slam the door I don't care what they're going to say Let the storm rage on. The cold never bothered me anyway.”

I would use the credit score as a tool but not definitive. Get creative and use your gut. For example, when a prospective tenant comes to look at an apartment, walk them back to their car and observe. Is it a mess inside? If they don’t respect their own stuff do you think they will respect yours? Little things like that can help form your opinion and give you better odds. In the end, use your gut feeling.