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10 July 2021 | 15 replies
Will they do all of the following:Ask for YTD paystub & W-2Verify employmentObtain bank statement to cross-reference payroll depositsVerify rent payments & lease violations with last two landlords and verify they are the property ownersMost won't.So, either learn to screen applicants yourself (plenty of source material here on BP including our blogs https://www.biggerpockets.com/member-blogs/3094/93296-how-to-screen-applicants-like-a-pro-part-1-verifying-credit-reportsOr screen & hire a PMC to do it for you.
10 July 2021 | 7 replies
I'm a big believer in surrounding oneself with images/reminders of what you're working on.
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12 July 2021 | 12 replies
If you do talk to the police, refer to her only as an old tenant.
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19 July 2021 | 1 reply
@Basilio AlcantaraWhat you are referring to is called "60-day rollover" (or indirect rollover).
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13 July 2021 | 3 replies
(starter homes in my area being priced at $600k average, and banks being government regulated etc.)My portfolio for reference:1st home, appraised at $530,000, remaining mortgage $310,000.
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13 July 2021 | 3 replies
@Brad Hammond Yes, I was referring to just not doing the deal if it seems the inherited tenants will be a major issue.
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25 August 2021 | 5 replies
I've heard this strategy referred to as rental arbitrage.
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12 August 2021 | 4 replies
As far as tenant screening, you look for the same things you would in other areas: income, criminal history, evictions, landlord reference, employment reference and perhaps credit.
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15 July 2021 | 17 replies
any examples that I could reference so I can get an idea any help will be awesome thanks!
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17 July 2021 | 10 replies
Just a few thoughts: - Get a thorough inspection- Get 3-5 estimates from GCs- Pick the right ‘genre’ of GC (fourplex and smaller usually falls under midsize or smaller GCs) - Always check license numbers and if you’re repairs or more than $25k, request references/info for 3 past similar projects with pictures or check social media and reviews - Get a service agreement in place before finalizing your deal and make sure the estimates cover everything in your inspection report and nothing is overlooked so there’s not as much unexpected cost that pops up.