All Forum Posts by: Josh B.

They do have improved versions of these. I have had great success with these. Easy to install and problem free. They are very well made and last a long time pretty much paying for themselves. $9

http://www.homedepot.com/p/Danco-HydroStop-Flapper...

This is the complete kit we use. I honestly think these are the way to go in the long run. Not only do they remove maintenance costs but saves you money on water bills. Yes you do pay more for them intially but if you think about it as a long term investment you are actually paying WAY less. $24

http://www.homedepot.com/p/Unbranded-HydroKit-Toil...

"@Tom Mole" It is a a bank owned property. I contacted the listing agent and he got me in touch with a great real estate agent. We met a few days back to see the property. It doesn't have any tenants currently and has been unoccupied for a bit. The agent told me Fannie Mae is working harder to present better properties and is working on them prior to marketing. It was very nice! Brand new carpet in all rooms, freshly painted, and thoroughly clean.

Similar properties have gone closer to $220+ in our area and I feel confident with renting at $1350.

 Would the agent know about back pending back taxes?

I found a foreclosure nearby I am interested in making an offer for. I was wondering with other peoples experiences of what a good offer to be accepted could be? The property is listed for $130000 currently, with one rejected offer from elsewhere. It is almost at the 30day mark so I believe it may get a mark down soon. I was entertaining the idea of putting in an offer to the bank of $110 or $115. Once the property meets the 30day mark how low could you make an offer (Im sure it varies with banks) in your experiences?

I am getting a plan together to purchase a property in Chicago here before long and get back to what I enjoy. I was wondering if anyone had recommendations of anyone I should be working with?

Honestly so far I have tried several people looking at some local properties and so far has been somewhat of a disappointment. Several people literally impossible to get ahold of (they may not even exist I am not sure), another more concerned with Facebook than showing, and another that just seemed like they wished they could quit on the spot. So I was hoping the community of BP could help point me to a great individual?

I want to be owner occupied as well to make things as easy as possible so the FHA sounds perfect. Does anyone have a suggestion of any starting neighborhood? I will have to take a look at our Northside as well. I have been leaning towards Bridgeport. But Little Italy and University Village seem great (plus we live nearby and daughter goes to school nearby so could be better) as well.

Would I be better get a Mgmt company starting off while I get my feet wet again? Seems like a different game than MI and I want to make sure everything starts on a good foot.

I had a previous rental back in Michigan that helped generate a fair amount of extra income. But it was more of a learning experience though. I want to take the plunge and buy again. 

I want to head in a better direction here but I have heard bad things about buying and renting out in Chicago. Anyone experienced or have any recommendations? I heard the city is EXTREMELY pro renter and somewhat give the finger to the landlords. Would I be better off looking to buy a property outside of Chicago?

I have roughly 20k to put into a purchase. Ideally I want to do 2-4 unit building and build on this. Thank you so much for reading! ~Josh

Also you can piggie back off someone with established credit if you can find someone who will allow you to be an authorized user on a card. This can backfire if they start having bad debt though.

I was in the same boat not long ago. I couldn't even get a store credit card from our Target (lol not even the debit one). My score was not even showing up on reports. I had never had a credit card and used cash for everything. NO ONE would give me a shot to prove myself.

After some studying the only way I could find a way inside was a secured credit card (paying $ for a secured line of credit based on how much $ you add) to get my foot in the door. I looked at several and after $99 for a secured credit card from capital one I was at step one.

Several months of $10 - $20 per months (low balances) I had enough credit to get my Discover IT card. From there on it was smooth sailing.

I would recommend starting out there. Also some other tips to keep things running along right.

1.) Do not cancel ANY cards

2.) Pay on time, EVERYTIME

3.) Keep low balances: I think safely on 40% of balance, anymore and it can lower your score

4.) Don't jump the gun and try applying to a bunch of cards. Do the secured and then maybe two months later apply to another.

5.) I would aim for a card per month after you are approved for the second, until you get 4-5 this will build you up about as fast as possible for a great credit score.

6.) Pay off any and all debts

Credit forums are a great wealth of information of realistic cards and all that. Good luck!!!