All Forum Posts by: Ryan Jopson

From what I understand capacity and longevity are two of the most prominent factors in regards to calculating ones credit score. Therefore, if your credit card limit is $1000, and the balance on your monthly statements is $5, I would agree this would help boost your score. Another idea that could benefit you is to see if your cardholder would increase your limit, thus increasing your capacity. I know a couple other things such as the types of credit you have and new credit opened also affect your score. Just a suggestion, but maybe it'd be worth looking into opening up another CC account.

http://canalrealestateschool.com/

$200 for the course, all online, the teacher is awesome. The scheduling is so convenient you can literally pick the days that work best for you. Its four - 5 hr. webinars and then about 20 hours of online self-taught material. Its incredible. Highly recommended. Good luck.

Ryan

Do you have good-long lasting history with this tenant? Any major issues or problems during the initial 1 year lease period? Have they missed any payments or have they made any late payments? Do you have to contact them every month to get the rent? Can they provide sufficient reasoning behind the claim that their income has dropped? I think these are all questions that should be taken into consideration when making your final decision. Sounds to me like they will have no issues paying the current rent, but with the $100 bump they don't want to have to pay out of pocket. Just a thought

Do you have any comps in that general vicinity that can provide us with more of a baseline?

please keep us updated this is good material -- thank you for sharing and very sorry for your situation

Wow, really great info here. I can't thank you guys enough. Thank you for taking the time to follow up.

Jim, thank you for your advice. Unfortunately I can't go FHA b/c I already have an OO 2 family w/ that specific loan program. This would have to be a conventional loan. The issue here is...my dad does not want to be associated with any income generated from the property ( he can't b/c it will negatively effect his tax return). Is there a partnership agreement that allows something of this sort? Maybe an LP or such? At first I was thinking LLC but then doesn't he have to claim half the annual income?

Thanks in advance