All Forum Posts by: Shawn Underwood

I have been successful with BB&T bank. They have funded multiple loans for me in the past. As a side note they really don't like fix/flip. They prefer buy/hold...not something you have to worry about but just FYI. They will fund a construction loan (even in an LLC).

@Christine Kankowski. Yes he can provide extra security deposit and I never had to evict someone fortunately in the past 14 years that I have rented properties. Don’t want this to be the first though

@Stephanie Trevizo thanks. Max deposit is 2x rent which they did agree to.

A little unsure about the situation that I’m in. A 3 bedroom rental that I have has been listed with not that many showings (historically I never had problems but rental saturation and getting closer to year end makes renting more difficult). So an applicant applied with his girlfriend (he is a teacher relocating back to the city for work) and his GF will be looking for employment when she moves. His Income alone just qualifies for the 3x monthly rent rule but his credit is poor...mainly not paying education loans and his monthly expenses (credit cards and loans are low). He since modified his loans to be based on his income so now the payments are more manageable. His score is under 450 (ouch! it goes that low??) and he does have a co-signer whose score is mid 600s. Based on this would you guys rent to them? Maybe on a month-to-month instead of an annual lease?

@Amanda H. I have been using it for years without any issues. The tenants like it as well because they don’t have to write checks. I don’t think it’s in any way not professional...and everything is easily tracked.

@Scott Trench thanks for the reply/acknowledgement and definitely didn’t want to diminish the hard work you and your team at BP is doing (just had to point out a pain point for me and others). I do love some of the updates that have been made. Keep up the great work

@Mike Dorneman section 8?

@Jhirae Talmadge I can recommend an attorney if you want to set it up for you. I have an LLC as most other RE investors do

@Aaron Winters win some..lose some...

@Aaron Winters IOS