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17 July 2024 | 5 replies
Local credit unions would be a good place to start.
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18 July 2024 | 7 replies
DSCR loans are most impacted by the property's cash flow and your credit score. - Derek Brickley brought up a great point about Seasoning requirements.
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18 July 2024 | 40 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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16 July 2024 | 8 replies
Context:*For my business - I had initially setup a profit-first system w/ multiple bank accounts at my local credit union*For the properties under management - I setup two trust accounts (rents and deposits) with Chase.
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15 July 2024 | 5 replies
I personally use Navy Federal and they aren't small, I would actually recommend just about any credit union.
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18 July 2024 | 18 replies
I'm a union worker and I'm usually in safety orange and dirty pants.
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15 July 2024 | 13 replies
I have been trying the local banks and credit unions.
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16 July 2024 | 17 replies
People pay rent with money, not their SAT scores.
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16 July 2024 | 18 replies
I’ve always been a money-knowledgeable young man; credit (760 score), stocks, roth ira, 401k, etc.
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16 July 2024 | 6 replies
What documents do they require, what credit scores do they allow, how do they verify previous rental history, etc.?