Niece wants to rent in SJ. But poor credit score (Santa Clara: rentals, house)

[LadyButterfly]

Hmm... it is very difficult to do anything with a bad credit. I know how hard it can be, but it is not going to be possible to survive with 390/mo.

If she really has to.. there are several places in downtown sj that has room sharing things going on.. I did it a student. it can get awfully compact sometimes but it may work out for her. downtown isnt really the safest place nor the nicest but i know for sure there isnt much of a choice elsewhere. IF she decides to survive with 390/mo, thn I would do all my shopping in the asian market. its cheaper! or walmart.

[bigdumbgod]

No big deal - we have people in that same position move into our place and get a nice bedroom for $550/mo often. Not concerned about credit score if you can pay the rent and maintain your job, or have a savings stash. Given the choice, I'd rather live with decent, hard-working people with bad credit than with obnoxious a-holes with great credit.

[KaaBoom]

Originally Posted by pacificoasthiway

Well she says 950. She thinks she can get by on 390/mo after taxes. For car ins, utilities, gas, food, 1 small credit card. Old car paid for. She's a good girl but I'm not offering her a room with me and my husband. Our kids are finally grown and out so it's our time now. 390/mo!

$390 a month is NOT realistic. Food, gas, utilities, car maintenance & insurance, and cell phone bill will easily eat that up. Unless she is planning on eating one bowl of rice a day. Trust me, I know from personal experience.

As others have pointed out, a landlord would have to be crazy to rent to her under those conditions.

She needs a roommate. Preferably one with very good credit. With a cheap 2 bedroom apartment for maybe $1100 or $1200 a month, her share will be $600 plus utilities. It's still going to be difficult for her, but maybe doable. Or she could just rent a room in a house for about the same amount.

[pacificoasthiway]

I'd rent to her cause I love her and respect how she's beginning to mend her life. This girl does not cave.

Yesterday she got a 1 bdr in Santa Clara for 950 exactly. She's ecstatic. And we're behind her. (Nope, I didn't sign a thing.)

Thanks everyone!

[mdwstrnkid]

Originally Posted by pacificoasthiway

I'd rent to her cause I love her and respect how she's beginning to mend her life. This girl does not cave.

Yesterday she got a 1 bdr in Santa Clara for 950 exactly. She's ecstatic. And we're behind her. (Nope, I didn't sign a thing.)

Thanks everyone!

While it's great that she found a place, spending 60% of your gross income on rent is not a financially sound decision. I would not see that encouraging her to do that as a positive thing. It's admirable that she is trying to mend her life, but getting into a high-risk, financially unsustainable situation will more likely than not put her in a situation of continued hardship.

Just my $0.02.

[pacificoasthiway]

Originally Posted by mdwstrnkid

While it's great that she found a place, spending 60% of your gross income on rent is not a financially sound decision. I would not see that encouraging her to do that as a positive thing. It's admirable that she is trying to mend her life, but getting into a high-risk, financially unsustainable situation will more likely than not put her in a situation of continued hardship.

Just my $0.02.

You must have been in the room when we were talking about this! You've expressed my husband's sentiments exactly. And I do not argue the point. She's got to do the heavy lifting. Keep working hard. Look for opportunities for advancement. Stretch every nickel. But she will not be all alone; she will have a cushion if needed. The goal is within 2 years she will be in a more comfortable position than now. And a year or 2 after that she can get back to community college. There's no point in living on 390/mo unless there's a plan.

[sonarrat]

She also needs to look for more part-time work. I have a full time $16.50 an hour administrative job, which would barely pay all of my bills by itself. I need lots of side work to make ends meet, which means long hours. Sometimes I work 3 different jobs in a day and spend 14 hours out of the house, but altogether, I make $55,000 a year. It's just like dating, everyone wants you when you're taken.. and the more you work, the easier it is to get more work.

[mdwstrnkid]

Originally Posted by pacificoasthiway

You must have been in the room when we were talking about this! You've expressed my husband's sentiments exactly. And I do not argue the point. She's got to do the heavy lifting. Keep working hard. Look for opportunities for advancement. Stretch every nickel. But she will not be all alone; she will have a cushion if needed. The goal is within 2 years she will be in a more comfortable position than now. And a year or 2 after that she can get back to community college. There's no point in living on 390/mo unless there's a plan.

Having a goal of getting to a more comfortable position is great, but you need to have a realistic plan. What is her goal and how is she planning to achieve that goal? Remember, even if she were to get a 10% raise each year (which would be wildly optimistic in a strong economy, completely unrealistic to expect in the current economic climate), she's still going to be paying around 50% of her gross income for housing at the end of those two years, which is still high-risk and not sustainable.

Not trying to be a jerk here, just being realistic about what she can really achieve in a couple of years.

[Ceece]

Without even knowing the details I can see from your posts that you are really trying to help her and will probably continue to help her. I do wish she had gone into a roommate situation for less money per month though, a room for rent in a house would have been my advice to her. I can't see any way in the world she can get by on the money she has...maybe you will help there ? Her budget is so lean she is only a Happy Meal away from destitution. Hopefully she can find a better paying job soon.

[nmnita]

Originally Posted by pacificoasthiway

She's 29, single. Anybody know anyplace where they might give her a chance? Got a job as a cashier in big retail store. $12/hr, 30 hrs/week. Rented in Virginia for 2 years, no troubles. But rent lower there. Having a hard time finding a building here. Is there anyplace?

Bad credit is so hard to live down. It is sad how so many have to learn the hard way. On $12 an hour and 30 hours a week, she is going to be hard pressed to find anything decent. How big of a place does she need and has she considered just renting a room from someone. Assuming she gets the full 30 hours a week, she will only be clearing about 1200 a month after taxes, maybe a little more. It looks like she is going to need some financual help. I don't know if you are in a position to help her, I haven't read all your postings.

Just finished reading your posts, I am sure she is very excited about the apartment, but I think you better be ready to help her out big time. Any part time job, is just that, no guarantee she will continue to get 30 hours a week, especially with the present market, she has an old car, they do break down or need work, she will not have 1 cent left for maintainance and she will not have any money left for any form of social life. She would have been much better off sharing an apartment or getting a room, but good luck to her anyway. I hope it works out, I am not holding my breath.
Nita