Lowering qualifications for applicants

[Lacy Tilley]

1st property is bought and rehab is finished.!!

I have had it list for a week with 4 showings and no applications.

I’d say I’m in a C+ neighborhood on a very nice street. I dropped the advertised rate from 1100 to 1050 to help appeal new prospects.

I feel my qualification standards are to tight.

700 score and 3.5x income.

I’ve messaged many people and credit seems to be the big issue.

What would be the best way to lower my qualifications and can I possibly re advertise at 1100 again?

I was thinking 675 score and 3x income?

Should I re call all interested parties? I dont want any fair housing laws to be infringed as well.

[Greg M.]

C+ neighborhood and you want 700 credit score and 3.5X rent. 🤣🤣🤣

Try 625 credit (no evictions or items in collections) and 2.5X rent.