All Forum Posts by: Marcus Geiser

On October 6th, 2020 after a long time not working and battling health issues I decided to brush myself off and get back in the game. I started by making the decision to flip houses, start by wholesaling, and repair/reestablish credit. 

As I start my journey I have had no income since March 2018. My wife has supported our family. I will be going back to work in the next few weeks. I have a zero budget for the most part and need to grind it out to create investment capital. As far as starting out goes I am starting from the bottom.  

Here are the steps I have taken over the last two weeks. 

1. Pulled credit file from all 3 bureau's 
2. Purchased BOA Secured Card
3. Paid $75 annual fee for Credit One Card
4. Went to GoDaddy and got Hosting and URL with a coupon code for $1.00 month with free domain, +$9.99 for domain secrecy to prevent telemarketing and such. Total Investment under $25.00
5. Used the site builder at GoDaddy to build my landing page (FREE). Auto-responds to me email. 
6. Added We Buy Houses Pages to 
   1. Facebook
   2. Instagram
   3. Twitter

I am now working out a plan for the next 3 months to build credit, save for a down payment, generate wholesale leads, and market deals. 

Ok, so I apologize to everyone. The actual situation is as I am the renter. The landlord wants to sell the property he previously could not sell. I also had an option to purchase. 

Took $1300 security deposit. Plus Nov. rent $1300 in cash. The tenant has changed the locks as agreed. Purchased paint and flooring as agreed. I can now sell the house but the tenant can’t stay. I told them they could move have access now and they did. Less than 24 hours. I have an above market offer so what Is my legal exposure if I attempt to get out of verbal contract. How much is going to or could it cost? What should I do? I have a great offer to dump the place. Renting was a last reso

Here is something to consider. Section 8 tenants are not putting down a deposit. I don’t think they are anyway. However, the next time she give you trouble simply tell her, “ your repairs are being billed to your tenant account in the event you do not pay I will backcharge section 8 for the full amount. When you leave this place which you will be upon the termination of your lease that amount will need paid to section 8 before they let you into your next free or $34 month place. 

NOW write up a memo and send it registered mail outlining what the potential costs of clogged toilets and plumbing repairs. Drains do not just clog. By there nature they take turds fine. Use industry averages for cost estimates of the price of repairs you'll make on her behalf. Be clear they will be billed to her and HUD.

If a tenant does damage to a property document it. They can not get a new place until it’s paid. 

Thank you Jody appreciate the information.

What else can I do to improve credit?

I let my credit slip slide away. I am now scoring 630 with a repo for a truck on my credit. Here is what I am doing:

I have monitoring set up.

Got a BOA secured card. Which led me to 2 additional cards unsecured. I now have 3 cards with a total of $1000.00 in available credit. On one card I paid a $75 dollar yearly fee. These 3 cards improved my score to 630. 

I have been offered loans at 21.9%, 24.9%. and get this 34.9% LOL. I feel like taking one would be stupid, hence the stupid tax. I am gathering information because from what I understand I need a better "mix" of types of open accounts. I just know paying that interest rate ridiculous. I don't see how I get there from here without one? 

I am also being careful to follow best practices in every area of managing my currently bad credit. 

Any advice on Stupid tax reduction strategies to improve credit?

I would simply make those intentions known. Rent paid on time is a realistic expectation. I would also ask if this will be a problem. Then ask them for suggestions on how we can get to the point where rent is paid on time. "What can I do to help you get where I need you to be?" For a long term person like this living paycheck to paycheck I may cover the mortgage and collect the rent as usual. In my opinion they may never leave and waiting two weeks seems a small price to pay to have them essentially buy me a house. The first and most important thing I would try to do is make sure is comprehend their situation. Most likely you bought the house because their credit sucks and they couldn't. They may be caught in the loop that makes us rich, get paid, pay rent, blow the rest, pay everyone late. 

I haven't heard of them. I wouldn't pay a penny for an education that didn't result in licensing. As far as education goes I would stay right here and read and ask questions all the way to a Phd. in REI.

There are many, many neighborhoods in Pittsburgh that are good. If I can help with any due diligence please contact. Quick look or a full rehab plan, pics, extra. I have a lot of experience in rehabbing. I currently only invest and wholesale, but always have time. 

Neighborhoods that border better school districts are one of my favorite. Sewickley homes start at $300k and go way up, Leetsdale, Fair Oaks $135k same schools. Very attractive rents. Beaver county is good because Shell is building the Cracker Plant and investing billions in it. Don't tell anyone though...

I see a good deal of Carrot landing pages. What do you guys recommend? And why. How has your success been? What would you do differently? What features cant you live without? Your help is greatly appreciated.