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Introducing Jim Lagan to Phoenix Realty
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There's been a change in personnel here at Phoenix Realty and Property Management since our last newsletter. Aaron Zane has moved back home to Hawaii, and we're happy to introduce Jim Lagan as our newest team member, Property Manager, Leasing Manager, and REALTOR.
Originally from Philadelphia, Jim moved to Colorado with big dreams in mind. As the type of individual that loves to learn and is constantly seeking new challenges, Jim brings a plethora of knowledge, skills, and traits to Phoenix Realty & Property Management. Graduating with a degree in Criminology and minors in Sociology, Journalism, and Communications, Jim went on to gain experience in a multitude of professional positions, most notably as a Litigation Paralegal, specializing in employment and civil rights law, as well as personal injury. Additionally, Jim has spent time not only as the Marketing Manager, but as the guitarist in a managed rock band.
In addition to his legal and marketing prowess, Jim has also worked in the title insurance industry as an Assistant Real Estate Closer, which is where he received his first taste of what real estate had to offer. Excited by the opportunities that were ahead of him, Jim decided to move on in his career path and pursue real estate and property management. Now a licensed REALTOR and a member of NARPM (National Association of Residential Property Managers), Jim is excited to apply his wealth of knowledge and take the next step in his career.
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10 Best Ways to Improve Your Credit Score
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Whether we like it or not, credit scores are the sea captains that navigate the financial waters that are our lives. Credit card companies, banks, and even us property managers rely on credit scores in determining whether you qualify for loans, interest rates, and rental properties. To make sure you don't have the likes of a villainous captain like Blackbeard steering your ship, take note of these 10 ways to improve your credit score.
1. Obtain copies of your credit reports and correct any potential errors. Equifax, Experian, and TransUnion are the three major credit bureaus and you are entitled to free report once every 12 months. Check for any potential errors and have them corrected.
2. Review your FICO score. This is the most commonly used credit score and encompasses a range of 300-850. Typically, scores of 720-850 are considered Excellent, 690-719 are considered Good, and 630-689 are considered Fair or Average. Shoot for Excellence.
3. Pay your bills on time. Even if you are only paying the minimum amount, approximately 35% of your FICO score is payment history. Many creditors agree that repayment of past debt is the single most important factor in calculating credit score.
4. Set up automatic payments to make sure you are paying on time. It is very easy to get bogged down with life's little distractions and easily miss payments.
5. Pay more than the minimum amount due to quickly pay down your debts and improve your debt to income ratio, which is another strong factor in determining your credit score. This will also help limit the amount of hard-earned money you hand over to creditors through interest payments.
6. Keep the balances on your credit accounts below 35% of your available credit. The utilization of credit accounts for approximately 30% of your FICO score and those with the best credit are only utilizing a small percentage of their available credit.
7. Don't close your credit card accounts. While closing your recently paid-off accounts can be tempting, 15% of your FICO score is based on how long your accounts have been opened. Closing accounts also affects your utilization and debt to income ratios by reducing the overall amount of credit you have.
8. Maintain a healthy mix of different types of credit. Having credit cards, mortgages, auto loans, and other various sources and lines of credit comprise approximately 10% of your score, so keep it mixed up.
9. Limit the amount of credit you apply for, especially within a small window of time. New credit accounts for about 10% of your score and an excessive number of credit applications can suggest you are credit hungry. Additionally, each attempt to pull your credit report will also affect your overall score.
10. Pay off credit card debt rather than moving it around. In many cases, moving credit balances from one card to another can allow us to pay down our debts faster and at lower interest rates, but if you are able to simply pay it off or pay it down, choose that option over carrying it around on multiple cards.
- Jim Lagan, REALTOR & Property Manager
Sources:
USA WEEKEND * myFICO.com * National Foundation for Credit Counseling * TransUnion * VISA
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Don't Forget to Like Us on Facebook!
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We here at Phoenix Realty and Property Management, Inc. urge you to follow us on social media! Active on Facebook, LinkedIn, and Google+, we routinely post articles and insights that cater to everybody. You can look forward to finding tips on home maintenance, finances, DIY projects, real estate, property management, local happenings, seasonal advice, and much, much more. Please feel free to follow the links provided below and join us on social media!
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We here at Phoenix Realty and Property Management would like to wish you joy, hope, and happiness this Holiday Season and throughout the New Year!
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