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 8 years ago,

User Stats

1
Posts
0
Votes
Kyle Huber
  • Investor
  • Arlington, MA
0
Votes |
1
Posts

Renting to small business owners

Kyle Huber
  • Investor
  • Arlington, MA
Posted

I recently purchased a multifamily property north of Boston. I inherited one tenant on the first floor, a vacant second floor, and I will be living on the third. I am currently trying to rent the second floor 3 br unit. Ideally for April first. The best overall candidate that has shown serious interest is a young family of 4. They are originally from North Andover, the town the property is in. They are moving because their current landlord's son needs a place to live and are essentially being asked nicely to leave. My only hang up is that their only source of income is a towing company that they started together one year ago. Based on the gross income they put on the application the are just shy of the 3x rule which I am willing to look past. I certainly don't want to discriminate against entrepreneurs, but I would feel more comfortable if at least one of them a more reliable source of income.

Is this a valid concern? Should I continue to look  even if it means not filling the unit for the first of the month?        

Loading replies...