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Updated almost 7 years ago on . Most recent reply

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Luke H.
  • Real Estate Investor
  • Dallas, TX
169
Votes |
386
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No one with good enough credit

Luke H.
  • Real Estate Investor
  • Dallas, TX
Posted

Hello all, hope all is well. This rental has been on the market for 15 days and after 48 leads no one has qualified. Due to no one having 600+ credit score. 

There is a married couple, with 2 kids that claim they have (570 credit score), that their credit issues are over 5 years old, both are holding jobs for over 3 years, with enough income to cover rent, and they are willing to provide a co-signer.

Should I just continue to wait for the application that qualifies completely or should I look into this one more? 
I've never had a co-signer before and don't know how that all works out. (some experts have said to no do that since it leads to other legal issues.)

I'm wondering what your experiences have been?

I don't like to leave my house sitting empty, I'm camping out there so it doesn't look empty and that is getting tough on me. Wish I could find an old car to park there...

Thanks for listening, your advice is appreciated!

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Jay Hinrichs
#1 All Forums Contributor
  • Lender
  • Lake Oswego OR Summerlin, NV
63,207
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42,850
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Jay Hinrichs
#1 All Forums Contributor
  • Lender
  • Lake Oswego OR Summerlin, NV
Replied

I think @BOB CRANEY hit the nail on the head  its the area .. my folks i deal with in these areas.. fico is not a criteria.. its 

do they pay their cell on time.. are they felons.... you have to triage the bad credit or sell the house. 

600 up probably does not want to live in that area.  I suspect thats whats happening.

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JLH Capital Partners

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