Are rent-to-own places a good way to establish credit, and are they a good deal to start a home?
912502
Rent to own places usually do not report unless it is in default.  However if in need of credit try a department store card or even open an account at a furniture store.  Most financing there is easy to obtain with easy terms and the due report good and bad credit.  Lately dept. store cards IE. Sears, Wal-Mart etc. will easily give you an account if you have a major credit card IE Visa, Master Card.  I would steer clear of Rent-to-Own.  Those are more for people who have really really bad credit.  And even then they could probably restore their credit way before what ever they buy there is paid off.  Hope this helps and God bless you in making a good decision and establishing you credit.
837662
I am assuming you mean renting it out to other people.  (Your question makes it sound like you want to rent a home yourself.)  If you own a second home, and you need the extra income to pay for the mortgage as opposed to losing it to the bank, I would say, yes.  Renting it out is a good idea.  I have two other homes, both rentals.  I purchased them for that exact reason.  The income I receive for rent each month, is about $750.00 over the mortgage on them.  So I make a profit of $750.00 each month, above and beyond the mortgage payment, for rent generated.  Hope this helps.
162895
you may do better to rent a trailer in an outlying area..many dont do credit checks, and some are cheaper than an apartment
679870
I think they are legit, but there main customers, are people with no, or bad credit. You will probably end up paying a hefty interest rate. Probably 20% or over..
89783
It depends what you want to do. Most places will let you rent your own place at any age, as long as you have the money/ credit or someone ele to co-sign for you.
767186
Not nearly as quickly as gets torn down.  \n\nSounds like you're off to a good start.  Just keep on keepin on, and maybe pick up another line of credit, like furniture.  \n\nThere are several ingredients for great credit: \n\n- Depth of credit.  10 years of great payment history is preferable to 1 year\n\n- Quality of credit: Installment credit is better than revovling credit.  Installment is taking a loan out on a something (boat, car, land, house, etc) and revolving is credit card debt (store cards being the worst) \n\n- Debt to income is another consideration.  If you have $4000 going out in credit, you need $8 - $10k comming in.  \n\nProbably the best thing you could do for your credit right now, is to buy some furniture or better yet, a piece of property somewhere for about 10-20k.
1065516
A couple of ideas that have worked for others:\n\n1. Find a landlord that doesn't check your credit.  This is getting harder to do, but a lot of small landlords don't.  Look at smaller buildings like duplexes and 4 plexes to find these kinds of landlords.\n\n2. Any non-corporate owned property manager has some flexibility.  Explain your history and why it won't happen again.  Offer up a bigger deposit to protect the landlord.\n\n3. Find a roommate.  Find someone who already has a lease and just wants a roommate.  This only works if their landlord doesn't require you undergo a credit check and sign the lease.  So this may be easier to find in a house.  Lots of singles have houses they rent rooms in.\n\nAlso the longer it was ago...the less it will impact you.  Time is really the only cure.
371448
The best way to go about is starting with single family homes or duplexs.  You'll get a taste of being a landlord.  With apartments it can be tricky.  Also, think about liquidity.  Apartment buildings are much more difficult to sell.  \n\nOnce you've established yourself with duplex's and houses then think monopoly.  Trade them in for the apartment complex. Good luck
689062
I began by building my credit. After receiving many offers to transfer balances on my credit cards or borrow cash at   a 0% loan, I opened a bank account for business only and cashed a 0% check for 7,000. I had a friend who did the same thing , and together we purchased our first house ( a fixer-upper for 8500.00) With the difference left over we fixed it ( and borrowed more 0% money to fix it ) and started renting it 3 months later. 4 months later we finished the downstairs apartment and we get 1100.00 a month for the entire unit. After water , taxes , payback on loans etc. we net around 400.00 a month. We put that money back into property improvement , or paying back our loan sooner.
431724
just go get a realtor, I had no credit and now I have a brand new house, with no money down none the less. I make good money which helps out alot.
877276
Land contracts are a really good way to build some equity on a house before you actually buy it. You pay your down payment along with your rent so you don't have to come up with any cash at closing or pay a high interest rate if your credit is not that good. Make you you invest the time and money in repairing your credit or just raising your credit score before you initial contract period is up. You can save yourself a lot of headaches if you do this. \n\nLook at it like this, you enter into the contract for the house and it's current value is, say, $150,000. The national average for property value increase is around 6%. In 2 years (the average length of a land contract) you have $18,450 in equity plus the amount you have built by paying towards that contract on a monthly basis.\n\nMake sure you review all the terms of the land contract or have a real estate attorney draw one up to make sure that your rights are protected.
479143
Yes, it depends on how long ago, but if you have other good factors (good rental payment history never paid more than 30 days late) & good payment history on your credit you should be able to get a home loan. Depending on your job stability, income, etc. also will play a role.  Depending on how the whole credit history looks you may still be able to get a zero down mortgage, or worst case may need to put a down payment.  Also, if your credit is better try to do it in just your name, if you dont make enough income perhaps you can do a no-qualifing loan.
543715
you'll need personal credit and a business plan
189608
Again bad advice. \n\nYou may get 100% financing at a 550 FICO score but I highly doubt you will like the terms. You will be "sub prime" which means a high interest rate (7%+) and possibly pre-payment penalties.\n\nYou will need a score of at least 620 to get into normal rates and even then it will be "full doc" meaning you will have to show 12 months of on time payments(rent,mortgage) and possibly explain any negative items.\n\nHopefully you have copies of all 3 of your credit reports and have reviewed them for accuracy. If not go to www.annualcreditreport.com to get all 3 for free.\n\nIf you are seriously considering buying a home with 100% financing then go to www.myfico.com and learn about FICO credit scoring. \n\nWhen you feel your credit reports are in as good a shape as they can be and you understand FICO credit scoring you can go to www.bankrate.com and put in your criteria and your area and get a list of lenders that offer mortgages for your situation.\n\nIf I were you I would also spend the $45.00 to get all 3 of your FICO credit scores at www.myfico.com/12.\n\nGood Luck
941026
I suspect you want ball park idea rather than an exact quote.  As a rule figure 2.5 times your annual income is what you can get for a house, in your case lets say $135,000.\n\nYour credit score indicates you might want to aim lower to get financing, perhaps a small condo, then build score up.  The lower the credit score the more difficult it is to get financing and the higher the rates.  Building your score up doesn't take long, but does require effort.\n\nThese are just guesses, many variables come into play, but hope this helps a bit!\n\nCongrats on future new home!
473707
you need someone to co-sign for you a small loan at the bank. That will start your credit. As long as you pay it on time every time then you'll have good credit.
191257
If you want to manage the property yourself and keep all the income then you will not want to hire someone to rent it out for you. This usually costs 1/2 to a full month's rent.\n\nAll you really need to do is get all the paperwork to make its legal when you rent it out. You can find organizations online that will have all this plus. I use this place:\n\nhttp://www.iera.org/\n\nYou will want to find a similar place in your area so they are familiar with your paperwork and laws. So you get a bunch of paperwork and help with being a landlord for your first time. They even have a lawyer you can talk to for free if anything ever comes up. You will have forms provided you didn't even know you needed like a lead based paint disclosure, and a fire alarm battery disclosure. Just running off to staples to get the rental agreement is not enough. Talk to a management company about all the forms they use if you want to find out without joining an organization.\n\nThe next thing you want to do is make sure you screen your tenants. There are many online services, but use a service in your area for the first time so you can talk to them and ask questions. Make sure you get the premium package that has criminal, employment, credit, and rental histories checked. It is about $35 and you charge the potential tenant(don't charge more its illegal to make money on this). Above all listen to what the screener says, if they say no its because they got a bad feeling about the people.\n\nThen you simply post a sign out front (which gets a lot of interest) and put an ad in the paper. You can get creative and use other advertising places if you like. Then you have to be willing to show it to potential tenants and answer their questions on the phone. If you don't want to do all of this then you wont have much cashflow on the house since the management company will take around 10% (some advertise lower rates but then charge for things like phone calls so it bumps it back up). \n\nGood luck