All Forum Posts by: Anthony Vanson

I haven't been active on here for years. I run a business which allows me to live anywhere. I have some saving and I'm currently in NYC. I'm looking to relocate as the market here is just too expensive for me. If you were in my place, which 3 locations would you put at the top of your list? Here is some background information. I am not married and have no children, so I'm free to explore all possibilities. I'd like to maybe start with a small MFR

Hello, I just have a few questions regarding establishing business credit

I've read on here about depositing $500 as collateral for a loan of the same amount and then paying it off in an installment plan. They mentioned it in regards to personal creddit though.

1-Could I do the same with a business?

2-if I use that strategy with 5 different banks, will that hurt my score since I've opened up 5 accounts at once?

3-will they automatically report my payments to the credit bureaus or do I have to specifically instruct them?

4- is installment credit sufficient to build a paydex score of 80 or above if I always pay on time and pay off the entire amount due to all 5 banks after 6 months? Or do I also need to get revolving lines?

5-After 9 months or so months or so of paying off multiple installment and lower tier credit lines, will I then be able to acquire significantly higher credit lines from some of the major credir bureaus?

My personal credit is good if that helps,though I plan on increasing that as well.

Anthony

Hello, I was wondering what distance you consider in doing cma's for rental rates,vacancy,etc. Would a 1 mile radius be acceptable or should it be either widened or narrowed? As an example, I just did a very general cma of the metroplex and it listed a 5.8 pct vacancy rate. That encompasses a huge area though, so I'd like to hear from experienced investors what sort of radius they use in doing their cma. My assumption is that the potential investment is in a densely populated area with an acceptable inventory for accurate calculations.

Anthony

Thank you both for the reply and warm welcome.

Thank you Iman, I really appreciate it.

Anthony

Hello, I'm very new to re and just signed up to the site yesterday. I'm looking to join a rei in the nyc area and learn from experienced successful investors and was curious if there were such people on these forums? I've seen the list of rei clubs in nyc, but I'm sure the quality varies,I'd love to hear from a member of one.

Anthony