Skip to content
×
PRO
Pro Members Get Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
$0
TODAY
$69.00/month when billed monthly.
$32.50/month when billed annually.
7 day free trial. Cancel anytime
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
General Landlording & Rental Properties
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated almost 10 years ago,

Account Closed
  • Property Manager
  • Big Bear Lake, CA
330
Votes |
585
Posts

Guaranteed Rent Payment

Account Closed
  • Property Manager
  • Big Bear Lake, CA
Posted

I have a house for rent at $995 per month. A woman called me and said that her family gets a guaranteed income from their Indian Tribe (casino money) of $2000 per month. Also her husband is going through trucking school and will make plenty of money once he graduates and starts his new job, already lined up.

She also said that she can set it up so that the tribe pays us rent directly each month, then she gets the left over. I would verify all of this, of course. I would also do all the normal background checks.

I know that the $2000 per month isn't anywhere near the 3x rent requirement, but we would get paid first. Then, in a couple of months her husband will be making good money, which would definitely put them over the 3x requirement.

Anyone have this type of situation come up? I would love any feedback on this.

Loading replies...