Fara Heath
Best way to finance this deal?
10 January 2025 | 1 reply
Most of the lenders I work with (provided you have experience and a credit score over 660) would do up to 85% of the purchase price and up to 100% of the rehab costs, provided this doesn't exceed 75% of the ARV.As for the idea of selling the land, great idea.
Fredrick C. Oesterle
accepting multiple applications
9 January 2025 | 4 replies
., income, credit score, rental history) to evaluate applications in the order they are received.Notify Applicants: Let each applicant know you will process applications sequentially and explain your timeline for review.Act Promptly: If the first applicant meets your criteria, move forward with their application and provide them with a clear deadline to sign the lease and pay the deposit.Move to the Next: Only if the first applicant does not meet the criteria or declines the lease should you proceed to the next application.By focusing on one application at a time, you simplify the process, maintain transparency, and mitigate any potential fair housing concerns.Lastly, since housing laws can vary by location, double-check Arizona’s landlord-tenant regulations to ensure compliance with any local rules about how applications are handled.Best of luck with your rental process!
Greg Barber
Need to buy more rentals! How to finance them?
26 December 2024 | 3 replies
The return on equity is probably very low considering they are paid off so maybe explore refinancing or selling the lowest performing one(s) or your biggest headaches to reinvest in more lucrative deals.I noticed you also used a metric of number of rentals to attain your goal rather than $$$/month.
Polat Caglayan
What do you think about the future of Detroit?
12 January 2025 | 10 replies
depends on your credit if you can get a mortgage or your ability to find good deals that you use hard money for and then refinance into DSRC.
Kaushik R.
Home equity and landlord insurance
3 January 2025 | 10 replies
To access your home equity without selling, you can explore options like a home equity loan, a line of credit (HELOC), or a cash-out refinance.
Ronit Lodd
Best Property Management Software to Scale to 10+ STR Listings? + Direct Bookings
26 January 2025 | 13 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.
Ricardo Lemus
The rent does not cover all
19 January 2025 | 10 replies
(Available time, money, income, family situation, credit availability, time horizon, real estate market location and phase, medical situation, etc etc.)
Troy Boister
EIN Corporate Credit / The Unknown Benefit
17 December 2024 | 0 replies
Real estate investors are sitting on an untapped goldmine of financial leverage through EIN Corporate Credit, a strategic tool many overlook.
Mike Levene
Most efficient source to pull funds from for a down payment?
23 January 2025 | 7 replies
I have gotten a seller's credit for my 3 existing units but to be conservative, I will assume I am paying full closing costs here.At the moment, I have ~$25k in a HYSA and expect to save another $10k from my W-2 before I start putting offers in.
Robert Williams
Tenant Request to Refund Pet Deposit for the Holidays —How Would You Handle This?
3 January 2025 | 12 replies
They’re now asking if the pet deposit can be refunded or credited toward their January rent to help them during the holidays.The tenant was apologetic about making this request and acknowledged it might not be typical.