Alfredo Sanchez
Credit=Strong DownPay=20% DTI=High = :( Options?
Hello BP Community,
I’m looking to take that “first step” but unfortunately when i tried applying for a pre-approval i was denied due to my hIgh debt to income ratio. I minor set back or maybe a slap in the face by ...
Victor Nkhoma
FHA loan changes for first-time home buyers?
Spoke to a couple of lenders recently who mentioned FHA loan minimum credit requirement is now 640, not the 580 I initially heard. Possibly due to Covid-19 adjustments. Not sure. What have you guys heard or know anyth...
Milton Rivera
Lease purchase terms assumptions and fees
Hello BP,We have an SFH for sale at a retail price. We received an inquiry from a potential buyer to see if we would consider a lease purchase. I have a few questions:Assumptions:Lease - 12 monthsSale Price - List p...
Emory Clayton
What are you charging for Tennant background checks?
Wanting to know what everyone is charging to run background checks for validating tenants. This includes income & asset verification, tenant's credit, criminal, and eviction reports. RentRedi has integration to ha...
Andres Cantu
Interest rate and APR for FHA Morgage loan
Currently got quoted for an interest rate of 6.25% with a 8.25% APR for the mortgage loan. My current credit score is at a 780. My question is, is that a good rate or a normal rate to be at in the current market of No...
Justen Ashcraft
returning deposit to hold question
I am returning a deposit to hold the property because the prospective tenant doesn't meet my qualifications. What should I include as far as a letter goes? Should I give them the reasons for denial? Should I mai...
Justin Lee
W9 to 1099 for independent contracts
I have a few vendors that I paid over $600 for services that were independent contractors and wanted to know the process for taxes. I have some W9s and some I don't. How do I proceed from here to include the labor cha...
Anthony Espinal
Denying potential tenants (NYC)
Hi, I’m new to “legit” landlording and I’ve been reading through The managing rentals book. I do have a question that doesn’t seem too clear to me in the book. Does every potential tenant go through the full applicati...
Tze Chiam
Tax deduction on lodging expenses while searching for an investment property
Hi all, I recently booked an Airbnb using some Airbnb credits (that originally came from a gift card) in my account while searching for an investment property. Since the stay was booked through account credits (instea...
Corey Gregg
Heat Pump Tax Incentives for Rental Property in the Inflation Reduction Act
Hello, I own a duplex and I currently live in one side and rent out the other, although I intend to move before the end of this year when I will rent out both sides for LTRs. The air conditioner and heating system on...