HELP!!! 2 rental properties and now STUCK! - Posted by Ron
Posted by Ron on July 21, 2003 at 21:52:14:
I am 22yrs old. I have only a 6mo. job history. I earn $3700 (before tax per mo.). I have about $1000, however, will grow quickly since I don’t have many bills. Also, I only have $1000 since I paid off a pretty large bill recently.
My total personal liabilites monthly total $325.
My credit score is about 660.
I am hoping that my score has gone up as I sold my $30k (monthly payment was: $441) car and paid off the note last month.
Paid off my $8800 credit card this month (Monthly payment was $ 150).
I now have 2 credit cards.
card #1 Balance: $450 Min. pay: $12 Limit: $2200
card #2 Balance: $11,900 Min. pay: $165 Limit: $14,500
I have 2 rentals.
Rental # 1 PITI $1048 Rented @ $1200 mo.
Rental # 1 PITI $ 754 Rented @ $ 995 mo.
I tried to get a loan 2-3 months ago and my DTI ration was a bit off. I have since then corrected most of this.
What should I be doing now?
Please, any and all advice on what to do now to further my RE investment career will be greatly appreciated.