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20 March 2017 | 29 replies
Honestly, you need to see a sustained household income > $105K for this tenant to be considered safe.
16 August 2016 | 4 replies
- A 6-plex apartment complex with a ~500k price- For rental purposes, I would not occupy- This is my first home-buying ever ( I rent myself)- My credit is Excellent (750+) and salary is 100k+ range (household 200k+)- I can put in 10-15% downThanks for the help.
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8 October 2015 | 4 replies
However, we use only month-to-month rental agreements, which makes it easier when adjusting the make-up of the household.
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5 April 2021 | 53 replies
IDK, what pricing you are expecting in rents but median household income in Michigan is $54K = $170K for home values or $1500/mo for rent.
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30 November 2019 | 28 replies
I am a LL with a large portfolio of Detroit SFR rentals.It is not a Civil issue anymore it becomes Criminal intent on your part.I can go in-depth on the various scenarios (with experiences picked up over the last 7 years investing on Detroit) but would not wish to as it is a different topic on it's own right.Hence, Sorry but just take this experience on the chin and go through this eviction like a Landlord would do.For the next tenant, follow a regimented Screening process: 1) Check the 36th District court for past evictions & money jugements (LT issue and GC issues), if it is under 3 years avoid the drama and move to the next applicant.2) Previous Landlord verification - call and speak to them (run the Landlords name if you have MLS access against the ownership records)3) Employment History and Stability - 3 times rental income atleast. 4 times if it is under household share.4) Credit Score - a Good indicator but take it subjectively as a Low Credit score is not an automatic refusal.
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26 March 2023 | 2 replies
Here's some detail:Affordable housing criteriaRent is affordable to households making less than 60% of Area Median Income (AMI).
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29 January 2016 | 15 replies
With very little money, but a lot of motivation, this is what happened: I started doing direct mail to households in pre-foreclosure.
20 July 2018 | 5 replies
I understand he could have possibly received a fee for late mortgage payment (it could also not be true, he has been known to lie to me and other tenants in the building), but that is not related to our contract to this household.
27 September 2016 | 2 replies
The more individuals on the lease (i.e. 1 - 2 vs 4 -5), the greater the odds of the household's social cohesion coming undone.
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7 July 2017 | 34 replies
You could also try narrowing down even further into financial parameters with household income targeting.You also have to look at what your ad itself says.