All Forum Posts by: Alex Ortiz

Welcome @Derek Wise I am still learning as I am new to this but if I can help you in any way I would be more than happy to. BP has helped me a great deal with all of the information available. 

Thanks for all the great advice I will put it to good use.

@Joel Bowen I was just on the Equifax web page doing some research and things like credit karma and annual credit report are considered different types of inquries that do not hurt your score.

Hi All,

I am trying to improve my credit score as quick as possible I currently have a credit card which has a max of $1000 and I currently owe $900 on it so my utilization is very high. I currently also hold a car loan which I owe $750 on and then I will be done paying and will free up $400 a month. Would it be better for me to pay the credit card down or the car loan? I have an option to skip a payment on the car loan which I could then use to pay towards the credit card I have read that after you pay off a car loan your credit may actually drop any truth to this? My goal is to get approved for a mortgage a soon as possible I feel like I am throwing my money away renting at $810 a month when I could be using that to pay on a property that could create cash flow for me in the future. Thanks in advance for advice on this matter.

Great Thread I also am looking at taking my first step into real estate I have bad credit no money but do have a good paying job and determination to be successful. As of right now I am determined to pay down all my debt a lot of it which is student loans and improve my credit by 100 points. Reading threads like this one keeps me motivated to work harder and reach my goals. After years of struggling just to get by and eating Taco Bell every night because my wife was a manager and got free food I can say were in a pretty good place right now. We plan to take full advantage of our position and buy a duplex within the next year to house hack. Thanks to everyone who posted on this thread and shared their story.

Hi All,

I am trying to figure out what I should focus on to help me reach my goals. I currently rent my credit ranges from 579 to 601 so I cannot get bank approved for a mortgage. My wife and I are finally in a pretty good financial situation and are fixing as much as we can as fast as we can when it comes to our credit hers is wose than mine we had a couple of rough years that really hurt us. We don't have the credit and we don't have a large sum of money available either so I think we're just stuck untill we get one of those key items. After doing alot of research and since we dont own anything yet we think house Hacking would be a good way to start were looking at buying a duplex. Our long term goal is to buy and flip properties I just want to make sure I'm doing everything I can to help us get to that point I have been reading and doing research all over BP listening to the podcast. I want to learn everything I can to be successful. My mother said she is willing to cosign if that would help me out but I don't know if I want to put that on her. If anyone knows of anything or has any advise to help get myself to where I want to be sooner that I may be missing please let me know. If I can help anyone with anything I would be more than happy to I just want to learn.

Hello all, 

I'm just starting out and trying to get my ducks in a row does anyone have any General Contractors who they would recommend and have had success working with?

Thank you

Hi All,

My wife and I have recently decided that we want to get into the real estate business to be more specific flipping we currently do not own our own home due to bad credit. We went through a rough patch when I was injured and was on disability and could not afford all the bills we had. We are now in a good place and paying off all those things that we fell behind on trying to repair our credit. My thought was our first flip we should do a live in flip being that we don't own a home yet. I recently came across a home that sold back in 2004 for $124,900 foreclosed to lender in 2014 for $71,442 and was on the market from 7/14 to 7/15 for $51,500. When I look this home up is says it was sold in August of this year for $51,500 but now has a realtor sign up that reads land contract. Similar homes in the area in the past year have sold from $110,00 to $120,000 I have not been in this home but from the pictures is seems to be a livable home while fixed I do know that from the looks it will need a new roof and of course it is outdated. I grew up in the area and know that it is a nice area with a good school system do you all think that being that it is up for land contract that if I could find a way to get the money or financed maybe a 203k loan they would be willing to our right sell it and why would someone buy it just to put it up for land contract? Any advice in this matter would be greatly appreciated.

@Jon Holdman,

Thank you for the information. If they are willing to sell the property outright do you see any issue with that? 

Hi All ,

 My wife and I have recently decided that we want to get into the real estate business to be more specific flipping we currently do not own our own home due to bad credit. We went through a rough patch when I was injured and was on disability and could not afford all the bills we had. We are now in a good place and paying off all those things that we fell behind on trying to repair our credit. My thought was our first flip we should do a live in flip being that we don't own a home yet. I recently came across a home that sold back in 2004 for $124,900  foreclosed to lender in 2014 for $71,442 and was on the market from 7/14 to 7/15 for $51,500. When I look this home up is says it was sold in August of this year for $51,500 but now has a realtor sign up that reads land contract. Similar homes in the area in the past year have sold from $110,00 to $120,000 I have not been in this home but from the pictures is seems to be a livable home while fixed I do know that from the looks it will need a new roof and of course it is outdated. I grew up in the area and know that it is a nice area with a good school system do you all think that being that it is up for land contract that if I could find a way to get the money or financed maybe a 203k loan they would be willing to our right sell it and why would someone buy it just to put it up for land contract? Any advice in this matter would be greatly appreciated.