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9 January 2025 | 12 replies
Personally, I follow this standard for every application I receive:- Income of at least 3 times the monthly rent (verified through the employer)- Credit score of 580+- Rental verification with past landlords (no outstanding balances, no late payments, and the property left in acceptable condition)- No history of collections, evictions, or criminal offenses- No overdue debt (except medical debt)This process has helped me place quality tenants over the years.
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6 January 2025 | 15 replies
The new standards are yet to shake out I think and it probably does cause some indigestion for investors and agents both.
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1 January 2025 | 8 replies
Did you use standard offer contract for your jurisdiction?
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1 January 2025 | 12 replies
This is what I am encountering, in the current Mortgage Industry.If you think you will go FHA, Conventional, FHA 203k, etc. and then Quit Claim the property, to a Corporate Entity, or a Land Trust you run the risk of the lender discovering a Title Transfer occurred and activating the "Acceleration Clause" or "Due on Sale Clause" that requires the loan to be paid in full, within 'x' number of days.
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14 January 2025 | 10 replies
@Sakib KhanRecommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a property in Class D area to Class A standards, what quality of tenant will you get?
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30 December 2024 | 5 replies
Walkthroughs are never detailed enough to be final (ie often tenants have lower disconnected and discover broken appliances later.)
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20 January 2025 | 19 replies
The standard process is already long enough, add on the scope of things and that's some significant time.
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25 January 2025 | 26 replies
(This is in addition to all the standard stuff you will read and/or that your broker is telling you. 80% of agents fail in their first two years, I'm sure there is a correlation between the other 20% & 70 hour work weeks early on.)
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2 January 2025 | 2 replies
They still all use standard HUD forms though l imagine.I'm curious is it federal,state or county legislation that creates changes between HAs?
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31 December 2024 | 17 replies
Not sure you can discover a Concealed Eviction as this is the first I've heard of it.