All Forum Posts by: Fred Makaye

This would be an awesome deal if you put money down and lowered your monthly mortgage expense. Is there a balloon on the mortgage?

If you can get that charge off removed and get a credit card for about six months you'll be sitting in the 700's easily. Dont pay off the 215 unless they're willing to delete it. It will do more harm than good. Also dont let your sense of "doing the right thing" overpower your sense of being practical. In the perfect world, paying off the debt should increase your score but like @Michaela G. just said the date of last activity is more important than the actual amount. If you try to get a mortgage you might have to pay it off but in that case you just pay it off at closing and it doesnt affect your credit score on that purchase, maybe on future ones. But at that time you'll already have a mortgage on your report which will significantly boost your score.

look onilne for credit forums and spend time on there reading, just as BP is good for real estate there are some really good forums out there. I'd list some for you but it might be against forum rules

welcome,

Im in arlington too.

@Account Closed

EVERY one here respects you decision. Its a free country afterall. What youre not going to get just about ANY one on here to do is agree with you that fortune builders is a great program. Most of us on here are real estate pros who have done and are successful at what YOU are trying to do. I fail to see the logic in refusing advice from people who have been there and are still doing it. This isn't a 12 step program where we'll just pat you in the back in everything you do and tell you to "keep trying". No one here is going to coddle you and tell you that FB is a good idea when most of us know its probably the dumbest thing you're doing for your career in RE. You cant expect to be successful in RE or anything for that matter when your first step is a loss making one. We are here to learn from each other. PROS post there deals on here every day and get told how stupid of a deal it is if the numbers don't add up. In this case your numbers dont add up and you sound unhappy that people are pointing out that what your about to do is EXTREMELY STUPID. Folks on here have taken the fortune builders class and come back wishing they hadn't. All that information is available on here for free. Take some time and read the blogs and posts and listen to the podcasts. QUIT BEING LAZY and thinking that FB will spoon feed you real estate knowledge. What they are very good at is taking your money and walking. Take the six months it would take you to repay the money and learn for yourself.

I hope youre not the kind of person that watches commercials on TV and go arguing with your doctor how much better for you it would be to get the drug from the TV commercial versus what he's been prescribing for you that's been working just fine. For our sake, please be sure to come back in a few months after you take the class and pay the money and allow us a moment to gloat in our "I told you so moment". Its the least you can do for BP for giving you free access to "gurus" and mentors that would cost you a lot more than the FB fee if it was at a seminar.

@James Mudd Having the utilities split up is not really upto the power company. It depends on the city and your zoning. If the unit is zoned MF and you want to pay to install the extra meters the utility company will oblige. On the other hand some cities might not like that because utlities and addresses feed into the emergency and 911 system and reallocating those is a headache for some localities

@James Mudd Im not in any way affiliated with them but their website looks like it could be exactly what you need. let me know how it turns out if you use them I might want to use them when I finally get my license http://www.texasbrokersponsor.com

Tony, you should know that when you post this type of stuff here, the first thing that most of us are going to be interested in is cost to build. Not even pictures. I dont think it gives any competitive advantage to withold that as most people here are professionals and like to compare. I think J scott just wrapped a build a little while ago and he posted everything through out the process. He even got some folks interested. Folks will buy a good product at the price you ask for it if its fair, regardless of what you pay for it. After all we all know walmart pays next to nothing for all the chinese junk on the shelves but we still buy it gladly cause its a good valu

http://www.huffingtonpost.com/2013/10/25/wall-street-landlords_n_4151345.html

Know your local market and buy good deals. You wont have to worry about this. Some guy in new york sitting in an office wont know the reason that a house sold for $100,000 and two blocks down is only worth half that cause its located next to sewage processing plant

Please get another lawyer before you have a REAL situation that needs a lawyer and you end up using this quack. You can create an llc for growing grass in your living room if you fee like. LLC is for protection and taxes