Credit Repair Services vs. 'Do-It-Yourself' Credit RepairWritten by Todd Disraeli
Millions of Americans suffer because of bad credit these days, and almost all of these people turn to Internet for help. In past 5 years hundreds of ‘internet-based’ credit repair services have sprung up , preying on consumers in need of real help. Most of these companies have built less than desirable reputations by over-promising and under-delivering; all while taking millions of dollars from those in need. For this week’s article I am going to compare ‘internet based’ credit repair services to repairing your credit yourself using a system like Loan Saver PRO: for Consumers; you can learn more about their system here - http://www.loansaverpro.com/index-1.html. Hopefully I will open your eyes to fact that you can do everything they can do, for far less money, and achieve even better results in far less time. Cost Comparison Credit Repair Service – Almost every credit repair company found on internet charges a set-up fee of at least $60 and an ongoing monthly fee of at least $49. They initially tell you that your credit repair work will probably take around 3 months to complete. In reality, your credit repair work ends up taking close to a year or more and now you’ve paid them at least $600. The goal of most credit repair services is to take their time repairing your credit so they can keep debiting your bank account. Do-It Yourself Credit Repair – There are several ‘do-it-yourself’ credit repair systems found on internet. Most of these systems cost no more than $40, which is less than set-up fees for most credit repair services, plus there is no monthly fee. Some of these products are good and some are bad—whichever one you choose, don’t use a ‘do-it-yourself’ system that uses ’pre-made’ letters to launch disputes; I’ll explain this in more detail below. Dispute Letters Credit Repair Service – Almost every ‘internet based’ credit repair service, and some ‘do-it-yourself’ credit repair systems, use ‘pre-made’ attorney letters to dispute information on your credit report. Using these types of letters often raises major red flags at credit bureau level and may result in your dispute request being denied. How do you know if your dispute has been denied? You’ll know when you receive a ‘Will Not Take Action’ letter from credit bureaus.
| | How To Sell Your Rental PropertyWritten by Steve Gillman
Selling income property isn't like selling a house. You can paint a house, and get a little more because it looks nice. Rental property is different, because it's bought by investors, who look at income more than new paint. Raise income, and you increase value.Let's assume investors in your area expect a capitalization rate of .08. That means that they want a net return (before loan payments and taxes) of 8% on purchase price. If your three-plex generates $12,000 net income annually, they'll value it around $150,000 ($12,000 divided by .08). Make it generate $16,000, and you make it worth $200,000. Get More Income From Your Income Property Higher rents is obvious way to boost income, if you can justify it. Find out what similar units are renting for. If you're $60 below going rate, you can raise rents and not lose your renters. Raising rent $60 for three apartments means $2160 more net income annually. At a .08 cap rate, you just added $27,000 to value of your property. Consider other ways to raise rents. Your tenants may agree to $30 more per month if you have a carport built. That's $1080 more net income annually, meaning roughly $13,500 more value added to your property. ($30 x 3 units x 12 months = $1080 divided by a .08 cap rate = $13,500) Build that carport for $4,000, and that's a good return on investment right? What else do they want?
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