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Relocating Motivated Sellers to New Housing
Buying an owner-occupied house is tricky because relocating motivated sellers can be a logistical nightmare & deal-killer. Pets, too many occupants, not enough income, bad credit, picky criteria, too many things, etc. all come into play.
Many apartments & single family landlords will overlook bad credit if prospective tenants can prove income at least 3X rent. But what if that's not the case? What if these motivated sellers have bad credit and low income? This is no doubt a situation many investors have faced.
What're some creative solutions that'll ensure that tenant application is approved (despite bad credit &/or /insufficient income)? I've thought of the following: Front the deposit & 2-3 months of rent (direct to landlord) until the tenants can get back on their feet.
Any other creative solutions? I'd love to hear! Thanks BP community ~