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All Forum Posts by: Roshan K.

Roshan K. has started 16 posts and replied 250 times.

Post: SmartMove First time using; have questions

Roshan K.
Posted
  • Oklahoma City, OK
  • Posts 258
  • Votes 214

Thank you everyone, I went ahead and cancelled the application as it still hadn't gone through. I met the tenant and his father who is a anesthesiologist doctor. The father will be cosigning. I know you're never supposed to rent out with tenant screening, but I think I will be ok this time.

Post: Cash out Refi or HELOC on rental?

Roshan K.
Posted
  • Oklahoma City, OK
  • Posts 258
  • Votes 214

My mentor has said he's gotten many lines of credit on rental properties. I asked if he was talking about HELOC, and he said don't worry about what the banks call it as long as the terms and interest rate is what you want to accept.

The only difference is he buys every single one of his properties with cash and doesn't ever have any mortgage or amount owned on the property. 

Post: SmartMove First time using; have questions

Roshan K.
Posted
  • Oklahoma City, OK
  • Posts 258
  • Votes 214

I was able to change the CC info on the payment to my actual credit card, and I think it's still hung up on pending acceptance before charging because my CC didn't get charged either. I'm kind of at a loss of what to do and they don't have a customer support number either... gonna send an email I guess :/ just another delay. Definitely going to find another tenant screening service next time

Post: SmartMove First time using; have questions

Roshan K.
Posted
  • Oklahoma City, OK
  • Posts 258
  • Votes 214
Originally posted by @Mitch Messer:

Hi @Roshan K. I believe the status will remain "pending acceptance" until the prospective tenant actually completes the SmartMove application. Just accepting the request won't change it. Once they complete the app, the status should change to "completed."

I am curious, though: Why don't you have the tenant pay for their own application? That way, your CC details would not be required.

 Update: Prospective tenant said he did complete and has no active applications. Still not updated on my side. One thing I did note was that my debit account did not have a charge yet, so I'm wondering if it was that. Seems so weird, if that's the case

Post: HELOC Interest Rates

Roshan K.
Posted
  • Oklahoma City, OK
  • Posts 258
  • Votes 214
Originally posted by @Michael Bertsch:

I'm getting prime +1 point and deducting every bit of it on my tax return.

 Seems like prime +1 is the consensus! Thanks Michael

Post: SmartMove First time using; have questions

Roshan K.
Posted
  • Oklahoma City, OK
  • Posts 258
  • Votes 214
Originally posted by @Mitch Messer:

Hi @Roshan K. I believe the status will remain "pending acceptance" until the prospective tenant actually completes the SmartMove application. Just accepting the request won't change it. Once they complete the app, the status should change to "completed."

I am curious, though: Why don't you have the tenant pay for their own application? That way, your CC details would not be required.

Hello Mitch, thanks for that answer. I will ask the tenant about that and update here.

I charge a flat fee higher than the SmartMove application. Getting the tenants to pay me AND pay a screening service rubs people off the wrong way. 

Post: SmartMove First time using; have questions

Roshan K.
Posted
  • Oklahoma City, OK
  • Posts 258
  • Votes 214

Still no change in SmartMove...

One thing I'm thinking is I used a debit card not a credit card. But I'm not sure how that would delay anything, right?

Post: HELOC Interest Rates

Roshan K.
Posted
  • Oklahoma City, OK
  • Posts 258
  • Votes 214

Thank you @Michael Abernathy for your info!

Post: SmartMove First time using; have questions

Roshan K.
Posted
  • Oklahoma City, OK
  • Posts 258
  • Votes 214

Hey everyone,

Got a question for you guys about SmartMove. So I sent out an application for SmartMove for my potential tenant to be screened. After I put in the address, rent, and security deposit (and my CC details), it sent out an email to my tenant to accept the screening request and allow TransUnion to release the information to me. 

The tenant says he accepted the screening request, but in SmartMove it still says pending acceptance. It has only been about an hour, but I thought it would be "instantaneous" as the ads suggest it would be. 

Am I freaking out over nothing or is this abnormal?

Thanks,

Roshan

Post: HELOC Interest Rates

Roshan K.
Posted
  • Oklahoma City, OK
  • Posts 258
  • Votes 214
Originally posted by @Kevin Lefeuvre:

prime+1

 Thanks, so same as me. 

Anyone else getting better than that?