All Forum Posts by: TaRa Mehta

Hello all,

I've been approached by a housing company asking if I would be willing to rent out my place for 6 months. They have offered me a price for it - which allows a decent cash flow. I've never done this before, but I was wondering is this price negotiable ? Can I ask for a little more ? Has anyone attempted this ? 

Thanks in advance ! 

Hello All,

We just finished the reno on our first BRRRR project. I've been approached by a housing specialist asking if we would be interested in renting the place out for 6 months for a higher rent. Naturally I want to proceed. Question - Will this affect the refinance process if I only have 6 months lease signed ? FYI I'll be doing a commercial loan.

Thanks in advance ! 

aaah that makes sense ! Thanks @Julie Hartman! 
@Richard F. thank you for that ! That's helpful !

Thank you all ! I think part of the problem maybe that I have it as a requirement and reply to the inquiry with it. And then it's silence after that. The other requirements are quite normal - 3x income, no smoking and no cats (allergy issues). So nothing out of the ordinary there. I completely understand that there could be a lot of history that is associated with the credit score. So do you all not enter the credit requirement at all, and then screen the application once they submit it ? @Julie Hartman, @Rosa Regier ?
Thank you so much!

Hey all,

I've listed my first BRRRR property for rent. It has been renovated REALLY well and I got a LOT of inquiries the first week. Now it has dwindled down. People don't reply back once I say that one of the requirements is a minimum credit score of 650.

Is this really a unrealistic expectation ? Unfortunately for me, the house across is literally falling apart. So a person with a very good credit score might end up considering other options. The rest of the houses on the street are in good shape, and it's a very safe neighborhood. I don't know if I'm overthinking this, or if it is the the cold season that's not bringing in more hits. My realtor told me that if someone had a 650 credit score, they might be considering buying a home. 

Should I really consider reducing the credit score, and then analyze on a case by case basis ? I would love your inputs and your experiences with sticking to this requirement, vs. lowering it.

Thanks in advance ! 

Thank you @Gregory Chadwell. So many things to consider ! I never though about allergies ! Thank you ! 

Thank you @Eliott Elias! This is very helpful ! 

@Kevin Sobilo This is extremely helpful. Thank you for all those details, and also the clear line of thinking. Very helpful ! 

@Michael K Gallagher, Thank you so much for those details ! Are you open to sharing the pet policy ? It would be a great help to those of us on the edge !

@Joshua Matthews Thank you!