All Forum Posts by: Emily Fraser

Yes, I need insurance for many reasons. 

I would consider putting vinyl siding on it in the future, but the problem is getting it insured for now. The exterior doesn't look terrible- just a few spots that are in need of repair. So I guess what I'm looking for is an insurance company that would insure it as it is while I work on getting it repaired. I would rather wait until warmer weather to repaint it, and it's a large house, so not sure that replacing it with vinyl siding will happen immediately.  

I am a newbie and just made my first purchase of a triplex two months ago. I was surprised to receive a cancellation notice of my insurance policy after they inspected the exterior of the property. They said that 15% of the exterior paint is not up to standard. I would like to repair the problem and retain the policy, but November does not seem like an ideal time to repaint a house in Ohio. Unfortunately, they only gave me until Dec 21 to show that the necessary repairs have been done. This doesn't seem likely. 

Would you suggest repairing the problem if possible, or trying to get new coverage? When I reach out to new insurance companies, do I disclose that the previous policy was canceled? What if no one will insure it? I feel a bit frustrated and stressed that the company said they would insure me before I purchased and then canceled the policy right after I closed. 

Thank you in advance for the advice.

Thanks for all the replies everyone. I find it all very confusing. I think that what happened is that I currently don't have any credit cards or lines of credit at the moment. I had a Chinese credit card (because I was living in China) and I foolishly thought that this would count towards my overall credit score. I haven't had my credit pulled for anything in 4-5 years because I've been living outside of the USA and haven't needed to. I think that the mortgage applications may have triggered a re-calibration and my credit was adjusted based on the fact that I have no history of credit payments in the past several years. Also, as someone said above, the mortgages were not approved, due to my unique living circumstances. I appreciate all the input. Hopefully it will adjust again soon.  

 It was twice in the same month. 

 Trying to sign up for it now. Thanks for the tip :)

The thing is- there's no late payment/ missed payment/ any reason for the dip. I have 18 years of established credit and zero missed payments/ collections. There was only two hard pulls, so it shouldn't cause a 110 point loss. Credit Wise is the company that gives me monthly updates on my credit score. 

Hi everybody, 

I'm a newbie looked to purchase my first rental property with a conventional loan. I applied with a few lenders and they pulled my credit score. Both commented that I had an excellent score, in the high 700 range. 

This month, I got an alert from my credit wise account that my credit score had dropped to 630?? I have not taken out any new lines of credit or a mortgage and I have no idea why it dropped so drastically. I pulled my full credit report and can't see anything suspicious or unusual. I have zero debt and I really don't understand this sudden change. My credit score history has been steady and unchanged for the past several years. 

Any insights? I'm kind of bummed out- I was proud of my credit score! Thanks in advance for any advice. 

Hi Jennifer! 

I realize this post is pretty old, but I'm about to move to Penang and was wondering if you ever tried flipping a condo in Penang? I'm curious to hear about your experience if you did! 

 Thanks Steve! Any suggestions for how to find a mentor? 

Hi! I'm a rookie, looking to get started with investing in SFR or small multi-family. I am currently looking at Ohio as my starting point, and I need to find a solid agent and property manager because I live out of the country. I'm looking for something that is move in ready and doesn't need a lot of work. I am open to most locations and have been focusing around the Dayton area because of the affordability. Looking for under 150,000. I am attempting the 90 day challenge and I'm hoping to have my first property by November 10! Any advice or recommendations are greatly appreciated. I just upgraded to Pro today, so I wanted to make my first post as an introduction and thank you in advance for all the helpful information on this site!