Which are the best secured credit cards to help re-build your credit?

Tips and Deals Forums Consumer Credit Credit Cards Which are the best secured credit cards to help re-build your credit?

This topic contains 2 replies, has 2 voices, and was last updated by   7 years, 10 months ago.

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  • #210739


    Ive read that, when reporting to credit agencys, some secured credit cards dont state that your card is secure. This makes it appear as if it could be unsecure when someone looks at your credit report. Anyone know of any like this?

  • #327073


    I have sold several properties that I have owned and I have never used a real estate agent or a REALTOR.

    I recommend that you hire a good real estate appraiser to give you a very accurate appraisal of the true fair market value of your home. That is what your home will sell for and not more than that amount.

    Put your home on the market at the frair market value as determined by your appraiser. Do not add an additional amount to give you negotiating room as some sellers do. That is a fatal mistake. particularly in a buyer’s market.

    At the same time be firm on your price. You will get some people who will try to low ball you. Just counter their offers back at full price.

    Since you know the fair market value with certainty you do not have to let the low ball crowd unnerve you, although they will try to do just that.

    If you are truly at fair market value your home will sell within 30 to 60 days.

    Most people that I have seen who try to sell their homes themselves tend to price them too high.

    The house sits around for a long time.

    Potential buyers think that there must be something wrong with the home if it is sitting around and not sold.

    I recommend that you also hire an attorney who specializes in real estate law to help you write the language of your contracts and review offers from potential buyers.

    Sometimes buyers put in language in their contracts that looks innocent and harmless but some of that language can be very harmful to you.

    Your attorney will point out potential traps in buyer’s offers.

    Before you put your home on the market I recommend that at a minimum you get the roof inspected, the structure of the house inspected along with the plumbing, heating and electrical system and the foundation.

    Also I recommend that you get a termite inspection and an inspection for water damage and dry rot.

    I recommend that you have all of the necessary repairs identified by the inspectors performed by licensed contractors before you place your home on the market.

    Have your home reinspected to confirm that all of the repairs have been made. Also, save all of your receipts for the buyer.

    Now is when the contractors and inspectors have very little business. You can get some good discounts at this time of year.

    Having all of the inspections done and all of the repairs made is a good marketing strategy. Potential buyers tend to overestimate the amount of repairs necessary and the cost of repairs and deduct that amount from their offers.

    When you have all of the inspection reports done and all of the repairs done, you remove that issue. this results in more competition and better offers for your home.

    The people who will give you the best offers for your home often have very long work hours and no time to reppair a home. They want all of the repairs made.

    That includes even the minor repairs including correcting the doors that rub a little on the doorframe and do not latch properly. Yes, I know you lived with those little annoyances for years and they did nit bother you.

    They will bother the buyers that will give you the best offers and pay you the most money for your home.

    I recommend that you plan to start matketing your home at approximately the middle of March. That is when spring is starting and the largest number of buyers will be in the market.

    This spring market should be a good one. The politicians usually pump billions of dollars into the economy during a Presidential election so the economy will be good and the voters will be easier to deal with.

    As a result the spring market should be quite good.

    I recommend that you open escrow with a title company in early March and order the preliminary title report.

    The lender for the buyer will need a preliminary title report, This way you will have one ready and will not have to wait for the title company to prepare one.

    The title company will also provide the lender with an updated copy of the preliminary title report.

    This way the buyers lender can get started immediately.

    If you have priced your home properly you should have your home under contract by the month of May and your escrow closed by June.

    After all of that explanation, have you considered keeping your home as a rental property?

    The only regrets that I have in all of the years that I have been investing in real estae is haviing sold a few properties that I now wish that I had kept.

    Yes I know you probably think that you do not have the time to be a landlord. That is what I thought too. However being a landlord sort of became a sideline hobby away from my regular career.

    I recently retired from my regular job. I am now thoroughly delighted that I have the rental income from a number of single family homes, some of which I bought 40 years ago.

    If you keep your home and convert it to a rental property you will be very glad you did.

    If you still decide that you want to sell your house, you will get top dollar for your house and you will save the commission that a real estate agent would charge you if you follw the plan that I have set out for you.

    I wish you great success!!!


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