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Updated over 3 years ago,
Newbie With a Rent Guarantor Question
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.