Michael Magro
No Credit History
I'm 18 and have no credit history. I've only worked 2 part-time jobs so far and am starting a new one in July. I have sufficient funds for down payments but I won't be able to get any mortgages and I don't know how...
Scott Ellis
Repaid HELOC - Does it need to season?
Here's my scenario with hypothetical numbers. I'm in Spokane, WA.I have a $50K HELOC that is maxed out. I have a personal line of credit for $50K with a $0 balance.I can use a HELOC for a down payment on a convention...
Will Barnett
The rate freeze
What is your opinion?
Personally I think it is a terrible idea. It's just gonna slow the bleeding, at least until rates adjust again and we are back in the same situation. I swear, when I hear Bush promoting it I g...
Raleigh Lewis
Where can I borrow 15k?
Hello BP Fam,I am a new investor looking at what could be my first deal. The property is a 2bd 1 bth shell in Philadelphia, the seller was asking $26,000 I was able to talk him down to $18,000 due to repair cost and a...
Ben Pearce
House Hack Accounting Help
My wife and I will be house hacking with a duplex once we close at the end of January. I have some questions around paying the mortgage and also about the use of a business credit card.
I currently understand the im...
Bridgette I.
Are there really consumer FICO scores and lender FICO scores?
Experian says my FICO is 816. My lender showed me my credit report that she pulled and Experian says my FICO is 695. When I asked my lender about this, her reply was that there's a consumer FICO and a lender FICO th...
Jay Levy
Tenant Screening Criteria
We have had some problems recently relying on tenant credit score, background checks and rent to income ratios as the main criteria for select tenants. I'm interested to hear if anyone has any thoughts on what other f...
Roosevelt Thomas
Can the BRRRR strategy work with no money down?
Looking to buy my first rental property. I recently paid off all of debt and raised my credit score over 800. Unfortunately after paying all my debt, I no longer have cash for a deposit. Is there any way I can purchas...
Cas Gabe
IRA Penalty Tax question
Hello all, new to the boards here, I have a question re my IRA and tax penalty - did a 50K draw (60 day rollover) from my IRA (Traditional) to cover some credit card debt and medical bills and had planned to redeposi...
Brandon Hughes
DTI on 0$ balance HELOC
I have a good amount of equity i can utilize in my primary(i plan on renting it). I plan on purchasing another home soon i would like the opportunity to use the loc if necessary. i dont want to ruin my dti by addin...