I understand that this is an investor site for investment opportunities but because I have read so many scary reviews about companies that RTO clients have fallen victim too, I thought that this may be a good place to inquire.Although I will remain in the same line of work, I know that qualifying with a 2/3 salary decrease and new job my debt to income ratio will not allow me to outright purchase something and I haven't lived in an apartment in over 20yrs.

I have clients that own 1 to 5 vacation rentals here on Mau i and once you hit that threshold of 5 you may be put into a commercial status (5+ units), so qualifying can be a bit more difficult, looking at such things as:What has that person owned and what has been their management experience collecting rent and managing propertiesThe borrower's credit score, income and personal and business tax returns will be considered along with two years' operating statements and a current rent roll for the property.Also important are property metrics, such as: Net operating income: The annual income, minus expenses that a property generates from its operationsDebt service coverage: Measure of cash flow relative to debt payment obligationsLoan-to-value (LTV) ratio: A measure of the loan amount relative to the value of the propertyThe property has to service its debt at a comfortable marginOf course each lender can be a bit different, so it's good to shop around if needed.I hope that helps.BTW - what do you consider big money?  

We have made some poor financial decisions and we are scratching and clawing our way out of debt now while raising two girls under 24 months.

Im a licensed RE agent in Fresno CA, considering to bid for a property on public auction in auction.com, hubzu.com, homesearch.com. my question is.. for example, when I place a winning bid of 100K, and the property has a total estimated debt of 300K, does that mean I have to pay 400K for the property in order to get the title? 

If they don’t, then you’re rewarded for your risk in carrying that paper; you’re now getting 12% for holding that paper, and there is no balloon.ABILITY TO REPAYThe second category requires you to determine the buyer’s ability to repay, but the rules and the regs don't specify any standards for doing it (such as the qualified mortgage standard, a 43% debt to income ratio, etc.).

. === here's the Calif Form, observe, it's a Proof of Service, not a Notarization === Proof Of Service I, the undersigned declare under penalty of perjury, that I served this Notice to Pay Rent or Quit, of which this is a true copy, on the above-mentioned Tenant in Possession in the manner(s) indicated below; [ ] On ____________________, 19____, I handed the Notice to the tenant. [ ] I handed the Notice to a person of suitable age and discretion at the tenant’s residence/business on ____________________, 19____. [ ] I posted the Notice in a conspicuous place at the tenant’s residence on __________________________, 19____, [ ] I sent by certified mail a true copy of the Notice to the tenant at this place of residence on ____________________, 19____, Executed ____________________, at _______________ By ____________________________________________

@earl hoyowardHi EarlI was taught that your personal life should have as little debt as possible and that your businesses should carry the debt because you will be generating revenue to pay the debt.  

Will our consideration and amount increase if we wait to apply for it after reducing our debt load some or does it mostly depend on the value of our home vs what is owed?

Ranch home rented for $1100 and make the numbers work where I would cash flow $275/mo. after expenses and debts owed.

I've also read that other countries are selling U.S. debt/treasuries and more economists are predicting a recession.