Nicholas Paros
Tenant Application Timeline
Hey everyone I am trying to get some information on how everyone handles applications from tenants and what your flow chart would look like. Listed below is my general understanding and a timeline with some questions ...
Chip Chronister
How do you screen your tennants
How do you screen your tenants before you rent to them?Do you ever pull their credit?
Kam Nak
Using HELOC without affecting Credit score
I am applying for a HELOC and wanted to find out what is the effecting way to use the HELOC without affecting the credit score. My plan is to buyout investment properties with the cash from HELOC. The concern is, once...
Bienes Raices
Multiple adult applicants and income
I've heard to screen each adult applicant. But in what cases do you reject the whole group when one person has enough income but the other doesn't? For example, you could have a husband that works and a stay at home m...
Sarah Nguyen
When do I require a co-signer on rental application?
Hello BP family,I am new and still learning about the rental business. Can you please let me know in what situations I will need to require a co-signer on the lease?My property is in a college town so the chance of r...
Andy Rivera
First time landlord any advice?
Hey BP!!!
I'm transitioning from a real estate wholesaler to buying rental property in the Northern New Jersey area. I want to manage the property myself as it is my first rental and I want to get a feel for being l...
Sal M.
Tenant refuses to pay rental application processing fees
I have a situation where a prospective tenant applied for one of my rental properties using the TAR(Texas) 'Residential Lease Application' form. I processed the application without collecting any fees upfront, I paid ...
Mark S.
Would You Approve This Tenant?
Got email from PM stating they have an application on my 4/1 SFR in Memphis, TN. They want to know my thoughts on whether or not I want to approve applicant (they’ve since denied 3 other applicants for poor credit an...
J. Pablo Fernández
At what point do banks treat me as a company instead of a person?
Hello,I have an LLC that owns another LLC that owns a property outright. It's cashflowing nicely every month and yet, if I want a mortgage, the banks ask for my credit record. At what point do they start treating me a...
Alexander Lang
Tenant screening - Income = 3X rent
Hi BP Fam!So the rule of thumb I hear is to have the tenants gross income equal or greater than three times the rent rate. Just to clarify, If I have a boyfriend and girlfriend, sisters, friends, whomever renting my u...