All Forum Posts by: Muhammad Ahmad
Muhammad Ahmad has started 22 posts and replied 28 times.
Post: Multifamily in South Chicago
- Posts 34
- Votes 8
Hello, I am interested in house hacking and looking for properties in safe areas in South Chicago. Is Bridgeport, Pilsen, and Brighton Park good areas for investment? I am a little hesitant because I have heard that the crime rate in South Chicago is high. I will be working at the Illinois Institute of Technology since it is in the South so I am also looking for safe areas in the neighborhood of IIT.
Post: I am thinking of investing in Oklahoma
- Posts 34
- Votes 8
Quote from @Will Fraser:
I'll second @Rhett Tullis here . . . that area continually attracts a lot of investors thanks to run-down 80+ year old houses and a seemingly evergreen base of students to rent it . . . but if that is the hope in the investment you'll likely be better off investing in Edmond or Norman, which offer both of the above.
@Blake Young you have some rentals near OCU, right? How many students have you rented to since owning any of them?
Hey, I want to buy a multifamily there because I will be studying at OCU. That is why I want to look for a property nearby so I can house hack easily
Post: I am thinking of investing in Oklahoma
- Posts 34
- Votes 8
Hey,
Any real estate agent here who works in the neighborhood of Oklahoma City University. I am looking to buy a multifamily there.
Post: I got pre-approval three times and it hurt my credit score
- Posts 34
- Votes 8
Quote from @Mohammed Rahman:
Salaam @Muhammad Ahmad - getting credit pulled during a mortgage process is pretty standard and should only ding your credit a few points each time. In the long term, your credit will bounce back and typically mortgage lenders understand when they see on your credit report recent inquiries from other lenders as it's normal to shop around.
Don't worry and keep moving ahead!
Thank you so much!
Post: how can I improve my credit score
- Posts 34
- Votes 8
Quote from @Randall Alan:
Quote from @Muhammad Ahmad:
Hey Guys!
I got pre-approval in December but could not close the deal and now I applied for another pre-approval last week for new construction that I found but it will probably close by august or September. That means my credit score will be hurt three times. I just want to know how long it takes for my credit score to get up and if there is a way to get my credit score to bounce back up quickly.
Thanks in advance!
Credit scores do respond to inquiries... but there is a window... I think it is between 30 - 90 days where if you were shopping for a mortgage or a loan all of your inquiries count just as one 'ping' on your credit, as I understand it.
Those inquiries don't impact your credit significantly as new debt does. So I wouldn't expect to see a huge swing in your credit score for a few inquiries. I would guess 5-10 points. If you take out a loan it will swing more. Just understand that your credit score is dynamic. It responds to what you do. That is its whole purpose. It then inches back up as you make payments regularly, and have fewer inquiries, etc. So there isn't a long tlong-termteffecttting an inquiry on your credit.
IF you are in critical need of a particular score, there are companies out there that can 'juice' your score through both normal and 'artificial' means. They will look for items in your credit report that are incorrect and challenge them (that's a normal means). For a price, some will add you to their 25 year old credit card that has a $50,000 available credit) so that it looks you have more long term credit that has little to no balance. (You don't get access to the credit card... you just ride their 'good credit' coattails to get an increase on your score). It's a bit of a cheat (probably), but apparently it's legal. So that can bump your score up to 'thread the needle' for a loan if you needed something like that. But something like that would cost you $$$$. Probably worth it in the long run if you are talking about a mortgage.
Hope it helps!
Randy
Post: how can I improve my credit score
- Posts 34
- Votes 8
Hey Guys!
I got pre-approval in December but could not close the deal and now I applied for another pre-approval last week for new construction that I found but it will probably close by august or September. That means my credit score will be hurt three times. I just want to know how long it take for my credit score to get up and if there is a way to get my credit score to bounce back up quickly.
Thanks in advance!
Post: I got pre-approval three times and it hurt my credit score
- Posts 34
- Votes 8
Hey Guys!
I got pre-approval in December but could not close the deal and now I applied for another pre-approval last week for new construction that I found but it will probably close by august or September. That means my credit score will be hurt three times. I just want to know how long it take for my credit score to get up and if there is a way to get my credit score to bounce back up quickly.
Thanks in advance!
Post: First investment. Advice and help needed!!!
- Posts 34
- Votes 8
Hey guys,
This is my first investment and I want to start with a package deal because my brother and I both want to do it together so we are thinking of investing in two separate houses being sold by the same owner as a package deal. Please reach out to me if anyone of you out there has such properties!
I have been thinking about it for quite some time now and now I don't want to wait. I am looking in North Carolina preferably Raleigh, Durham, Chapel Hill and Apex.
Hey guys,
This is my first investment and I want to start with a package deal because my brother and I both want to do it together so we are thinking of investing in two separate houses being sold by the same owner as a package deal. Please reach out to me if anyone of you out there has such properties!
I have been thinking about it for quite some time now and now I don't want to wait. I am looking in North Carolina preferably Raleigh, Durham, Chapel Hill and Apex.
Hey guys,
This is my first investment and I want to start with a package deal because my brother and I both want to do it together so we are thinking of investing in two separate houses being sold by the same owner as a package deal. Please reach out to me if anyone of you out there has such properties!
I have been thinking about it for quite some time now and now I don't want to wait. I am looking in North Carolina preferably Raleigh, Durham, Chapel Hill and Apex.