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10 December 2024 | 22 replies
Some lenders offer this option, while others might prefer to handle each property individually.It will come down to the lender’s criteria, such as combined value, rental income (if applicable), and your financial profile.
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9 December 2024 | 16 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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7 December 2024 | 17 replies
@Kyle Carter we manage around 700 doors, with 92 of them being S8.When S8 applicants are properly screened, they can statistically perform a decent amount better than cash-tenants.
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9 December 2024 | 7 replies
Can you imagine taking a couple days off work, looking for a new place, paying for new applications, putting down deposits, renting a moving truck, finding friends to help you move, paying to clean your old place, and so on to “Save” $300/yr?
26 November 2024 | 7 replies
If it were more than three years ago and everything else on their application was perfect, then I would consider it.However, I've never seen that in 15 years of management with hundreds of rentals and thousands of applications.
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16 December 2024 | 19 replies
For example we largely scaled our portfolio with conventional loans, but when considering our overall application for a new conventional loan we don't get flooded with details on the other properties because it's incorporated into a business entity.
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5 December 2024 | 4 replies
Yes, you should be fine to place a tenant as long as you’ve already submitted your application for the lead certification and are just waiting for it to process.
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19 December 2024 | 82 replies
Quote from @Xavien Rafael: Year 1: Building the FoundationThis year is all about setting up your structure, building your business credit, and laying the groundwork for funding and scaling.1.Open Your LLC:•File your first LLC and elect to file as an S-Corp (if applicable to your tax situation).
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10 December 2024 | 9 replies
I used the standard Massachusetts Lease Rental application and it didn’t have any language regarding such.
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4 December 2024 | 3 replies
Most of the prospects offering this to us, disappear when we tell them they still have to go through our full application & screening process. - We almost feel sorry for the foolish/naive DIY landlord that inevitably falls for their sob story and accepts them.We have had 2-3 that have gone through our process and so we accepted their multi-month payment.