All Forum Posts by: Yan Guo

Thanks for all the replies. He was born in 1991. He has some jobs here and there, but not stable. No rental history except current one he is renting. There is nothing on his credit report.

Any experience on this situation that you can share? 

My current tenant is engaged last month and want to put her fiancé on the lease. Her fiancé submitted the application. It was found no credit, no previous rental history, very short employment history. I am going to reject him. 

My question is: if later on my tenant gets married to her fiancé and asks to move in, can I reject this guy again? 

I am in Florida. I have a question about the window screens. I bought a rental property last week and going to rent it out. All windows don’t have screens. My property manager says the new Florida law requires window screens. The house was built in 1987. I think it doesn’t apply to the existing building. But the property manager quoted me the Florida Status. Should I install screens? Thanks. The 2017 Florida Statutes Title VI CIVIL PRACTICE AND PROCEDURE Chapter 83 LANDLORD AND TENANT View Entire Chapter 83.51 Landlord’s obligation to maintain premises.— (1) The landlord at all times during the tenancy shall: (a) Comply with the requirements of applicable building, housing, and health codes; or (b) Where there are no applicable building, housing, or health codes, maintain the roofs, windows, doors, floors, steps, porches, exterior walls, foundations, and all other structural components in good repair and capable of resisting normal forces and loads and the plumbing in reasonable working condition. The landlord, at commencement of the tenancy, must ensure that screens are installed in a reasonable condition. Thereafter ondition. Thereafter, the landlord must repair damage to screens once annually, when necessary, until termination of the rental agreement.

Originally posted by @Michael Huck:

@Yan Guo If you have favorable terms on your first mortgages then equity line is great but can be difficult on investment. If the terms of your first are not the best or have a short term remaining you may want to look at a refi of the entire balance with the cash you need. 

I have ten years left on the first mortgage. 

It’s in Orlando under my name.

I am planning to pull some equity from my rental properties to buy another one. 

Which bank would provide HELOC or home equity loan from rental properties nowadays? I've asked a couple and no luck. Thanks.

My personal umbrella policy won't work after I bought my fifth rental property. Need a broker to set up the commercial insurance/umbrella insurance. Thanks.

I have 4 mortgages. 1 primary and 3 rental. I'm purchasing next rental. It's going to be my 5th mortgage. I was told by my two portfolio lenders that my dti is too high (>30% is it really high? ). They only count 60% -75% of my rental income, but 100% debt. 

How can I get a mortgage? 

Hello, I'm pretty new to the forum. I'd like to share my experience of being a landlord and get help from the forum as well. 

This is my first question. I am planning to notify my tenant to deposit the rent every month to a new checking account. How to I notify them? Should I prepare a document with the new account, send to the tenant by mail and have her sign and mail back to me? Or it is OK by just notifying them by email? Your help is highly appreciated. 

Thanks 

Yan