To answer your question directly: a person should apply (whatever that means in your process) before being asked to screen.

The challenge was balancing the relationship between landlord/tenant and a personal/friendly relationship.

For funding, explore options like FHA loans, personal savings, or creative financing, and focus on New Jersey markets that align with your goals, such as Newark for rentals or commuter towns for house hacking.

We take a "whole person" approach.

I financed this property using down payment funds from 403B and a local commercial bank. 15% down from personal funds. 85% down from community commercial bank. 3yr balloon, 20yr amortization, 7% interest rate.

One caveat to this strategy is that you can’t live in a property that your IRA owns, nor can you rent it out to anyone else who may be considered a disqualified person like your spouse or child.Feel free to connect with me and send me a direct message if you want to learn more!

Then, each person with money in the deal would get an 8% preferred dividend until they get all of their money back.

I have other HELOCs that were much easier to get both personally and professionally.

I called that person two more times just flabber ghasted that I actually got a banker to admit this info is legitimate with many more questions.

You are correct… if a person has 600k and they can afford to risk it going alone in a new country and that’s what they want to do with the money then why not go it alone.