All Forum Posts by: Nicole Chang

I worked with a management company to rent out my townhome and they sent me an application with a set of 3 roommates that barely makes enough as 2 and just squeaks by with the 3 to meet income requirements. While technically it works I don't feel comfortable renting to a set of roommates. Is there a rule that I can't pull my listing all together if I don't like the applicant pool?

Thank you! I'll try out single key and make sure to note the hockey rule :) 

Hi BP Community,

I'm planning to rent my home and a Canadian citizen applied for my rental and says that he won't receive his SSN until June 15. He has accepted a job at a local tech company in SF so wondering what credentials I should be asking for if not the typical ones we use here in the US (credit score, rent history, etc).

Hi BP Community,

I have a creative financing question that I was hoping people with experience could help weigh in on:

I currently own 4 SFH, one of which I live in and am doing a live in flip/live in then rent situation (2 in the bay area CA, 2 in Louisville Kentucky). I work a W-2 job and my DTI is basically maxed out with these homes so I doubt a traditional lender will work for this potential deal and need to think of creative financing options, the seller said he is open to seller financing but I want to make the right offer from the start if i can.

The Duplex:

Price: 1.3M

Unit 1: 3 bed, 1 bath, backyard, rents for 3100/month

Unit 2: 4 bed, 2 bath, backyard, rents for 2800/month

I live down the street from the duplex and grew up in this neighborhood and know it very well. It's a highly desirable place to live for families because of the amazing school district and proximity to San Francisco and Silicon Valley. 

I'm curious as to why the duplex has been on the market for so long and will ask the seller these questions and of course do my due diligence on the right price to offer, since it needs some work to be updated. If everything checks out and it ends up being a good deal at a certain price what are some ways to use seller financing to get the deal closed?

Chris! Will be attending this to finally meet in person.

Thanks all, very helpful information!

Hi All,

My realtor brought me a deal for a 1 bedroom condo in Wakiki that she says rents for 2000/month or 97/night on Airbnb. The condo is not on the market yet and seller wants 236K, with a 870 HOA fee and standard 75/month in taxes. The HOA fee seems pretty steep to me. Does anyone out there have a POV on whether this is a good deal? It probably won't cash flow unless I put a lot of cash down. Thoughts?

Thank you @Brian Garrett!

I often hear about people doing a ton of deals and using leverage to help them with these deals. However, does anyone have advice on the DTI that is needed when doing an immense amount of deals? I feel like the DTI calculation is often left out of the conversations I've heard on the BP podcasts. No matter what the creative financing, isn't there always a limit to what someone will lend you (whether it be conventional or hard money) based on DTI?