Alyssa Paros
What credit score do you use as a qualification?
We own in a triplex where the rent is $500-600/mo. Should we stick the standard in The Book on Managing Rental Properties? What credit score do you use as the qualification threshold?
Anna Maher
Deposit down to hold apt, now future tenant is getting demanding
We have recently had a potential tenant put down a deposit to hold a unit. After receiving the deposit, the future tenant has become demanding and unwilling to work with us on scheduling a lease signing. We think the...
Jason Warren
Rent by the room financing
Is there any way rent-by-the-room income can be counted for owner-occupied SFH mortgage qualification?Also, if the house has an ADU, can the ADU's or the main house's rental income count for qualification?Thanks!
Cesar Garcia
Deciding on Tenant
Hello, I need help making a decision. This tenant has good credit above 600, good background and everything except income does not exceed rent by three times. Monthly income is around 7800 and rent payment is 3200 a m...
Bradley Lewis
When to make updates on rental listing?
How long do you let your rental sit on the market before you start adjusting the listing to get more inquiries? What things do you make adjustments on? Rent, app fees, qualifications, etc...
Gerardo Lewis
A gut feeling about a prospective tenant
Hi Bp, So i have a prospective tenant for my rental and she has been really really interested in the place. Only problem is I haven't verified income yet but I feel like she won't be able to afford the place mainly be...
Edwin Ortiz
How to choose tenants?
I received 2 applications for my rental property. 1 of them meet the income requirements (about 5x the rent) but after doing a credit check I noticed that they have 2 accounts in collections (under $2k both) and in th...
Connie Chang
Assumable Loans - Lender Declining?
Just out of curiosity - has anyone heard of lenders declining new borrowers for assumable loans, even with strong qualifications? Interested in a property in which agent is saying lender is not approving any borrowers...
Eduardo Blanco
Qualifying Process For LLC Investment Groups
Hello, my partner and I are about to register an LLC structured REI group. We are not clear about how to explain to our potential members how the qualification process works in relation to the qualifying process.
...
Colby D Hollins
Hard money--Get the deal or pre-approval first?
When dealing with hard money lenders. Is it best to get the deal under contract first then seek money from a hard lender. Or is it better to get the pre-qualification from a hard money lender first. Pre-qualification ...