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27 August 2024 | 4 replies
What documents do they require, what credit scores do they allow, how do they verify previous rental history, etc.?
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27 August 2024 | 9 replies
@James S. your best bet is a local bank or credit union who knows that area.
27 August 2024 | 2 replies
What documents do they require, what credit scores do they allow, how do they verify previous rental history, etc.?
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26 August 2024 | 5 replies
I’ve looked at Zillow and look at the school scores close by, look at google maps but other than that is their some tool I can leverage to help sped up this process?
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27 August 2024 | 30 replies
: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+, 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, 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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27 August 2024 | 12 replies
If you are looking to exit in the near future, there may be issues.I would go to other community banks or even credit unions to see if they can finance
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28 August 2024 | 18 replies
As example credit unions can be great, though I have had many clients where the payment is 1% of the borrowed amount.
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27 August 2024 | 2 replies
Some local banks or credit unions might have portoflio loans that might be helpful too.
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28 August 2024 | 5 replies
Likewise, major alterations and change of use would require the structure to meet the new HERS (Home Energy Rating System) score.
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26 August 2024 | 10 replies
For example, if your credit score requirement is 640, consider only allowing pets if the tenant has a 700+ score.