If a person has a significant weakness (or can't be verified) in any of the four categories, and we have reason to believe they could still be successful tenants, we will offer to rent but will require an additional security deposit to cover our risk.We would never request prepaid rent, other than for the current month.

He used prepaid rents to offset past due rents.

But all with 80% LTV with a bank - Every property has good debit.

A prepaid gift card of $100 would be nice, but I suppose it depends on your relationship with this person.

David, does that mean that if I debit my HELOC $8900 and then credit my mortgage $8900, that it would be a "wash" from an LTV standpoint since I'm not really reducing my LTV on the property, and the PMI would stand, because in effect, I'm not reducing the total lien on the property?

But, you can collect all the prepaid rent warranted and able.

i like google wallet they are free if the tenant links their bank account or uses a debit card if you use credit it charges a 2.9 percent fee. im thinking of provideing tenants with a reloadable debit card and ask them to pay rent with that.

I'm starting to really expand my portolio with a lot of houses. As it grows I'm also creating more LLCs. Isn't this going to get overwhelming to have in my wallet a Credit Card, and Home Depot Card for every property?...

Contactless (online) payments is a big deal given the current state of things during C19, especially with the right platform that allows your tenants more options (ie. debit/credit card option, ACH payments, or even expedited payment processing, along with rent/payment due date reminders, and the ability to report positive payments to TransUnion in order to give your tenants' credit scores a boost; this acts as an added incentive for them in the long run as well).

It would have cost me nearly $6k in closing costs/pre-paid taxes, and they wanted me to pay off $6k in credit card debt to bring my 720 score even higher.