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3 February 2025 | 7 replies
It's now almost impossible to get a mortgage with a FICO score under 560-580 range.Overall, the housing market has higher average FICO scores and more equity than the 2008-2010 period.This makes it much less likely we'll experience another Great Recession, but there are no guarantees.
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23 January 2025 | 15 replies
It is not your credit score but generally better credit will result in a better score- Time at your job- Education level- time at current residenceGood Luck & feel free to PM me if you have any questions.
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4 February 2025 | 7 replies
Turns out that a 520 credit score and a sad story (that turned out to not be true) is really just a 520 credit score.
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29 January 2025 | 11 replies
Most of our out of state investors in Pittsburgh find success depending on their expectations.
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1 February 2025 | 2 replies
that we’ve learned in our 24 years, managing almost 700 doors across the Metro Detroit area, including almost 100 S8 leases:Class A Properties:Cashflow vs Appreciation: Typically, 3-5 years for positive cashflow, but you get highest relative rent & value appreciation.Vacancy Est: Historically 10%, 5% the more recent norm.Tenant Pool: Majority will have FICO scores of 680+ (roughly 5% probability of default), zero evictions in last 7 years.Class B Properties:Cashflow vs Appreciation: Typically, decent amount of relative rent & value appreciation.Vacancy Est: Historically 10%, 5% should be applied only if proper research done to support.Tenant Pool: Majority will have FICO scores of 620-680 (around 10% probability of default), some blemishes, but should have no evictions in last 5 yearsClass C Properties:Cashflow vs Appreciation: Typically, high cashflow and at the lower end of relative rent & value appreciation.
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17 February 2025 | 3 replies
What documents do they require, what credit scores do they allow, how do they verify previous rental history, etc.?
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30 January 2025 | 5 replies
Quote from @Raymond Kalonji: In your opinion, what would be a reasonable minimum credit score?
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19 February 2025 | 11 replies
would you rent out your property to a problematic tenant who has a good rental history which means always pays on time with a good credit score. i'm in the process of renting out my house
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8 February 2025 | 14 replies
that we’ve learned in our 24 years, managing almost 700 doors across the Metro Detroit area, including almost 100 S8 leases:Class A Properties:Cashflow vs Appreciation: Typically, 3-5 years for positive cashflow, but you get highest relative rent & value appreciation.Vacancy Est: Historically 10%, 5% the more recent norm.Tenant Pool: Majority will have FICO scores of 680+ (roughly 5% probability of default), zero evictions in last 7 years.Class B Properties:Cashflow vs Appreciation: Typically, decent amount of relative rent & value appreciation.Vacancy Est: Historically 10%, 5% should be applied only if proper research done to support.Tenant Pool: Majority will have FICO scores of 620-680 (around 10% probability of default), some blemishes, but should have no evictions in last 5 yearsClass C Properties:Cashflow vs Appreciation: Typically, high cashflow and at the lower end of relative rent & value appreciation.
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9 February 2025 | 3 replies
What's the lowest credit score you will allow?