Ping W.
potential tenant with high income and many collections
I have a potential tenant who is a CEO of a small company so he has high income but I found 6 collections account when check his credit report. Many of the collection account has a small balance. He could easily pay o...
Sami Gren
Potential tenant with only 1 month income history
Hi, I just showed an apartment for a potential tenant and I told her she should Send 3 month of pay stubs, she only sent 3 biweekly pay stubs, when I asked her for more she said that she was working at a different p...
Joe P.
How to verify potential tenants workers compensation income
I have an application from a potential tenant who had surgery and is on workers compensation for the next 8 weeks. He sent me copies of the last couple checks he has received but how would I verify that these will be...
Account Closed
Confused on income Tax for Potential rental property
Let's say I live in California and make $255,000 of taxable income, from my advertising company. I want to buy a duplex with all cash that would start paying me $2,000 a month after all expenses have been paid (other ...
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...
Heath Jones
Proof of income for self-employed potential renter?
If your potential renter is self-employed, how do you verify income? They have offered me tax returns from the previous year, but how do you ensure they will make that much when they are renting from you? Any help wou...
Tim C.
Using Potential Rental Income for Purchasing a Duplex
Hi everyone, Pretty much every blog or every podcast I listen to here mentions that you should "house hack" and "live in one side and rent out the other." In detailing the advantages of doing this they go on to say th...
Tyson R.
Am I a Landlord Yet? (For a Loan's Sake)
Hey BP,I can't seem to find my answer regarding conventional loans for investment properties. We've owned a rental property for two years, producing monthly income that has been cash-flowing. This income property has ...
Laura Mrazik
Business Plan - building new primary residence to rent out current home
Hi there - my husband and I are preparing to build our new house (on land we already own). He is a contractor and will be doing all the labor. Our plan is to rent out our current home, which we own, once we move int...
Noel Peralta
Can I evict and purchasing a new property simultaneously?
Hello Friends,
I'm currently in the processes of evicting a tenant for non-payment of last months rent. I'm concerned that this might slow my investment goals down. I can show my loan officer that I have a lease for...