Patrick Hunt
Advice on 5- unit multifamily refinance please!
Hey BP, I’m in the process of helping a couple of family members manage their real estate portfolio in a more efficient manner. They have for the past 20 years managed their portfolio of 8 Properties (13 units) in a...
Sarah Buchanan
Prospective tenants with new jobs / commission / independent contractor
I own and manage several SFR and have some interested tenants (roommate situation) who meet my screening criteria (good credit, income 3x rent, great references), but none of them have solid work contracts. One makes...
Scott Prock
Clarification on Cap Rates
Greetings!I just read an article by Forbes where the author - Brad Thomas - mentioned something regarding cap rates that has me confused.Quote - "As a REIT analyst, I use cap rates on a daily basis for comparing the v...
Justin H.
Bank Statement Loans for Self Employed
I am currently self employed and considering a bank statement loan. Two years ago I applied for conventional financing for a house hack situation and was only approved for a small amount due to my DTI being so high. I...
Brian Plajer
How do you verify rent roll?
Hello, When reviewing a multifamily property and the current rent is listed how do you verify that the current tenants are actually paying their rent? Anyone can create a spreadsheet. I often hear about the rent roll ...
Tina Lee
Mortgage statement for prinary home can i request address change
Hi all, I took this loan out for my residential condo, now I am moving away and wanted to rent my residential to a tenant. But since mortgage was applied for my primary address. Can I request an address change? My bro...
Erich Oertel
Verifying income on potential tenants who are retired
I have a rental property in Los Angeles, California, and it’s been on the rental market for less then a week. Just recently, I showed the home to a retired couple that on face value, appear to be great candidates for...
Bethany Peysen
Pre Approval Letter as an Investor
We are new to REI, but recently received a 600k guidance line of credit through a bank here in Texas to purchase properties to in turn rent out. We have 2 so far, purchased 1 cash, and are currently working on a short...
Flora Granter
Tenant screening - need help
We got a tenant application for a 2006 single family house with monthly rent $1425. The applicant has a nice credit score of 702 and monthly income of $5000. Based on tenantsearch check, he has no criminal history a...
Ryan Canfield
Banking Relationships
Hi BP,I'm looking for some advice, if I plan on going into a few local small banks over the next few months in hopes of building a relationship or two that I'm hoping to need about 9 months from now; what documents sh...