All Forum Posts by: Robert Hudson

@Lonnie Hammond Pretty much. It really depends upon the particular credit lines that you are trying to establish. Consumer credit is much more automated in that they have a minimum FICO score or other triggers that might cause a denial. In business credit you may actually get an individual that really checks you out especially if you don't have much credit. They will check your score but also check credit references. They might check your business address to see it it is really a business location and not merely a house. Virtual office said nod a Ups stores signal that you might not be very established or solid. They may also do a general Google of your business name and possibly your personal name and even social media. 

For business credit your credit request will often be reviewed with a manual review. They will pull up the address of your business and see that it is a viritual office or UPS store.

@Filipe PereiraI have come to the conclusion that there are many blowhards on here that are only here for self promotion. Often, they are very quick to defend their reputation. When you search a person's name, eventually it will show up that they have posted on Bigger Pockets. You then click on that link and you will soon see how successful and brilliant they are. Cheap advertising.

I remember 30 years ago that ALL of our electricity was supposed to be produced by solar and everyone would work a 4 day work week by this point in time. Oh, everyone also had to learn how to write their own computer programs because that was what the "educated" person would be doing. But looking at the more likely impact of self driving cars, this will come in the mobility of the elderly. So many people in their 70's and 80's have to dramatically change their lifestyles because they can no longer drive. Most people under 60 now are comfortable with technology and will be willing to embrace self driving cars in 20 years when the technology becomes common and their need for it develops.

@Michael Plante First order of business is to get a secured card that GRADUATES to an unsecured card after a year. Navy Federal has an excellent secured card that graduates and they are very generous with their credit limits and that is important in reguards to utilization. It will be of great benefit if she can be added as an authorized user to a credit card account that has been open for years with a perfect payment record and very low utilization. She needs at least three open accounts to maximize her FICO score. As far as utilization goes, any amount reporting will have a negative effect on the score unless it is the $2 trick (which is an advanced topic) the negative effect becomes more pronounced as you pass the 10%usage level. Credit check total is an excellent Site to access your credits reports and get your true FICO scores. You can sign up for $1 and cancel within 7 days. People often make the mistake of applying for "toy cards" ( department store, gas cards) or even worse, subprime cards. (Credit one, first  premier, etc) Stick with Visa, MC, AMEX, Discover)

There is some really bad advice about strategies to establish credit in this thread. Where did you people get your info? 30% usage will really drive your Fico down. Store credit cards lead to too many inquiries and look like junk on a manual review. Credit Karma is total junk. Their scores aren't FICO scores and can be off as much as 100 points from your true score. DO NOT use Credit Karma.

@Ed B.i wouldn't call this a scam, more like an auction. Unless the property was misrepresented, or the buyers in some way are mentally deficient, I see no problem there. I personally don't care for the used car sales approach where the potential buyer is shown a price that they will never be able to buy for. Bidding wars like this where the property is sold over market value is just another sign of an impending crash.

This house looks really nice inside. I think the kitchen killed it though. It looks like there is room for either a refrigerator or a stove but not both. A dishwasher would also be nice. An unworkable kitchen will ruin any house. I don't know your property values but that looks like a great price for that house. A better kitchen layout would have brought much more money.

Why didnt YOU hire the appraiser since you are a real estate professional?

Not really on topic here but do you know why college costs have skyrocketed? Because of the availability of student loans. College education has been pushed upon the middle class like crack is pushed on a street corner. Everyone says going to college is the thing to do otherwise you will be flipping burgers the rest of your life. Flipping burgers for minimum wage is better than coming out of college with a job that only pays yearly the amount equal to a fourth of your student loan balance.