All Forum Posts by: Matt T.

Wound up getting some very qualified tenants with great credit scores and five applications. Must have priced it too low, but at least I have a tenant in there that seems very reliable and all previous landlords said they were wonderful.  

Thank you all for your thoughts!

Thank you all for the thoughts! This at least gives me a few frame works to use in thinking about how to navigate this.  

@Caleb Heimsoth, thanks for that. Very helpful!

For context, this is a 2 bedroom 1 bath in Salem, MA about 30 minutes north of Boston. It's a solid town that is rapidly improving, but the tenant pool is not like being in the city or on the immediate outskirts.

I just put my first unit on the market and I'm getting a whole range of interested parties.  Many of the folks who seem like decent potential tenants have lower credit scores.  There are many folks in the 600-650 range, which seems very low to me, but perhaps I'm being too strict on this? There isn't a lot I feel I can use as criteria, so this serves as a sorting mechanism, but I don't want to limit my pool too much. Is there a cutoff point I can use as an indicator of someone who does/doesn't pay things off?  Is there a magic number that sorts out the unreliable tenants and keeps the ones who will likely stay for a while and pay on time every month?!

@Katherine Robbins Where are you seeing two families for under 400k in Salem!?  I haven't seen anything under 500k for the past few months.  

@James E.  Wish I could have come to this.  I'll stay tuned for the next one.  

What are the advantages/disadvantages to using one out of state lender for all transactions?