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Updated over 3 years ago,

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Anthony Burnham
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Newbie With a Rent Guarantor Question

Anthony Burnham
Posted

Hello.  Brand new wanna be investor in Orlando FL that has been reading books and game planning with girlfriend partner.  

I have a question I believe most will be able to answer.  My daughter has asked me to guarantee her rent on a residential $1,350 lease in NY City.  She does well and has over a year and a half in savings.  So not worried about any type of credit hit or financial hit.  Lease would be 12mths.

My question is if I was to come onto a property that I was wanting to buy, is being a guarantor on her lease a potential problem?  I make $108K, have a $750 car pmt, no rent/mortgage and an 820 beacon.  

Thank you in advance for any feedback.