All Forum Posts by: Wendy S.

@Jonathan Styer

Thank you.

@Nathan G.

Thanks.

@Scott M. Thank you.

@Joe Splitrock

Thanks Joe. Yes, that's what I tried to explain to him. His daughter is trying to help him with the application as I believe he's a bit challenged with using the site.

I honestly don't think he is trying to be dishonest but I'm more concerned about his criminal background seeing that it will be a shared housing. I've personally rented to persons with sub par credit even in the 400s, and then later helped them to buy their own house in little over a year.

So hard pass I guess.

Good day All

I have a pending application because Transunion via Apts.com cannot verify applicant's identity.

He has provided his bank statements, set up online payment as requested but I can't accept him because of the Credit/Background checks.

I called Transunion and they suggested he get a copy of his annual report so he can answer the questions correctly.

However, he is unable to get this done as I was told it brings up info for his son and not him so again he was unable to complete application.

Any suggestions on what you would do?

Hello BPers

I have an applicant who makes decent income and is in the construction trade with his own vehicle, tools etc thats looking to rent a bedroom so he can save up to buy a house.

Problem is Transunion has been unable to verify his info via Apts.com. He has provided his bank statements and everything but I've told him without a background and credit check I am unable to rent to him as this is a part of my requirements.

I've personally called Transunion and they suggested he print his free annual report ,call them back and verify but for some reason he is not able to get even that report.

Any suggestions on what to do?

Good day All

So I bought an investment property, at the time inspector said there was no heat and air. My HVAC person then tested it and said the furnace was good but no air, he would need to turn the gas on to verify. Turned out he was right and was a $60 fix.

He also came up with a solution for air and heat for the entire house. The existing furnace is too big for the house (4 tonne for 1600 sqft) but he suggested tapping into what I already have and add more vents etc so I can get heat and air to the converted garage (400 sqft).

The house would have 1 system supplying heat and air for about 2,000 sqft and cost about $4,500 total fix.

However, I'm concerned about the temperature throughout the house especially as I rent per bedroom and the garage conversion (bought it like this) could be 2 bedrooms or a 1 bedroom flat with smaller room for office, small kitchen and living area.

The other solution by another company is to replace oversized unit and install a 3 tonne unit supplying heat and air then install mini splits for the garage conversion. This would be more efficient, occupants have better temperature control but costs $12,850.

Of course I'm grappling with what to do as that is $8,350 difference plus I have to insulate attic and walls...

Not to mention I've been carrying this property for 10 months and is now so close to the finish line to get tenants in.

Will my experienced Bpers weigh in thanks.

@Vinh Nguyen

Ok one point I have not seen addressed is to be particularly careful about persons that are out of state and wish to rent your property. Please be careful not to be a victim of a scam where they will send you the money or more than you requested then come up with some story about not being able to move in again then request that you send back a portion of the money and keep the rest for your troubles. If this happens DON'T SEND THEM ANY MONEY.

With that said.

You can use Adobe or Docusign or some other esign software to send them the lease so they can review, you can clarify anthing that needs be then they sign. You have them send all the required funds and once you've verified its authentic and clears your account you sign and return the executed contract with both signatories.

Arrangements for handing over of keys are also made. Boom they move in.... At least this is how I do it.

Great. That was going to be my next question about pulling equity out. I'm still learning but after my last refinance, I think I'm leaning more towards a Hel or Heloc

@Evan Parker

Congrats on the purchase, renovation and getting a tenant in quickly.

However, I don't understand your maths, how did you come up with just $19,000 invested? Is this $19,000 just for the renovation? Did you take over the existing mortgage or some similar strategy so almost no money out of pocket?

Hi @Kent Clawson, won't be eligible for refinancing until early February. The unpermitted resulted in a lower appraisal prior to closing on the purchase. 

Thanks Charles. I too like the wood looking but more of a light brown with red tinge hence my Oak Trail being at the pricey end. The grays I'm not a fan of, they scream investor and I want a softer look in the home.