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21 May 2024 | 15 replies
Is your DSCR ratio greater than 1-meaning are you cash flowing (according to the lender's criteria of mortgage, property taxes and insurance (and HOA) if applicable).
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20 May 2024 | 11 replies
By the way I recently gave notice to tenants that lied on their application which indicated no perspective tenants smoked.
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23 May 2024 | 43 replies
You will generally have a better quality of applicant.
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21 May 2024 | 4 replies
Perform the same task in each app to ensure a fair comparison.Load a property with pictures and details.Market that property.See what your marketing looks like from the public's perspective.Submit a fake application to see how easy the process is.Run a credit/screening report on yourself.Enter a maintenance request, assign a vendor, and attach a fake invoice.Enter charges to the tenant's ledger.Enter recurring charges and automatic late fees.Sign documents electronically.Run owner reports.After testing a few apps, one should clearly stand out.
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20 May 2024 | 6 replies
They can implement or may already have rules like no rental signs, HOA needs to approve any application (but they might only meet quarterly), no pets for tenants, owner must live in the house for 1-2 years before renting, no leases less than a year, limit on # of rentals, and more.
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21 May 2024 | 48 replies
First the approved tenant moves in: perfect applicant, single mom with one kid, no pets... soon her adult kids move in with their kids and then her ex moves in with his kids and their kid's kids and their pitbulls and mastiffs...
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23 May 2024 | 35 replies
Mis-information (not mentioning pertinent information) on a loan application or lender when needed, can become mortgage fraud.
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19 May 2024 | 21 replies
Decline the Zillow application option, that's where they get money out of you.
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20 May 2024 | 6 replies
And think about what will happen when interest rates eventually come down...When interest rates go down, mortgage applications go up like clockwork, which leads to more demand, which will likely lead to increased home price appreciation.