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5 December 2024 | 6 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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3 December 2024 | 22 replies
FB Mktpl has yielded the most quantity of inquiries, but also the most unqualified and applicants that have no idea where the units are located.
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4 December 2024 | 1 reply
Something problematic they find that was undisclosed on your application (not saying you'd do this, just giving an example), title issues, entity issues, issues with the appraisal even if the value is acceptable...you can either bite the bullet and pay for the appraisal, don't move forward with the loan, or try and find a HML/PML willing to lend to you without an appraisal.
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7 December 2024 | 4 replies
I just received an application from someone who meets the income requirement (3x rent) but not the credit rating requirement.
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6 December 2024 | 10 replies
When applicable I try to get the picture with the unit number right next to the document.
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7 December 2024 | 15 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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1 December 2024 | 7 replies
May your bookings be as plentiful as you wish, your guests be low-maintenance, thoughtful, and honest, and your positive reviews numerous.
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4 December 2024 | 2 replies
Loan Costs, Deposits, and Escrows: Origination fees, application fees, third party reports, legal, insurance review, title & escrow, rate caps (floating rate loans), due diligence deposit, rate lock deposit, standard escrows, etc.6.
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10 December 2024 | 100 replies
If so, that would remove one major and valid objection to letting unsupervised strangers into houses.In my own business, an applicant can apply for an apartment before touring it.
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1 December 2024 | 2 replies
Two reputable termite treatment companies have recommended that my townhouse and all the others in our row of 6 townhouses need to be fumigated together.The management company and the HOA board of directors have been aware of the termite infestation in numerous townhouses in the community for some months.