Irene Chen
Rental Income Counting toward Debt to Income Ratio
We are looking to get another mortgage to purchase an investment property. One company told me that our debt to income ratio is to high (we have 2 investment mortgages) and said we would not be able to come rental in...
Steven Sestir
Tenant Application screening process questions
Hello everybody, I am going to write up a tenant application to screen good tenants I know in the application that I need their credit score, credit check, background check, but I feel like I am missing something els...
Jim Lynch
Minimum "boxes to check" for tenant screening, assuming you are self-managing
I'm curious as what y'all consider to be the minimum criteria for approving a tenant, assuming you don't have access to professional tools. If I am self managing my portfolio, what do I need to check/confirm, and what...
Stephen De Vita
US Postage Stamps
Hello, I am not sure if this is in the correct place to post this. I am buying multifamily properties and reaching out to owners. I am sending 300 letters every 4-6 weeks. I was told getting USPS forever stamps is the...
Emily Fraser
Insurance policy cancelled due to exterior paint
I am a newbie and just made my first purchase of a triplex two months ago. I was surprised to receive a cancellation notice of my insurance policy after they inspected the exterior of the property. They said that 15% ...
David Osborn
Accelerated depreciation question
I bought and furnished a new rental property in 2019. I did use bonus depreciation for the cost of furniture, but I lumped the property improvements (mainly new hvac, water heater, windows) in with the building and ...
Chris Smith
PA Residential Lease
I just got my first property with renters lined up ready to go. I wasn’t able to find a solid lease for PA online. Does anyone have a standard PA lease I would be able to use?
Marco Campos
Seeking mortgages under $50K
I am looking into buying a few SFH that cost around $50K-60K but after the down payment it would be sub $50K. Anyone out there know of a mortgage professional that offers loans for this category? I am looking for the ...
Sam Shah
late rent payment fee collected by PM
Hi Everyone,I'm a new landlord who just bought few multi-family properties. One of them is in Hartford, CT. My PM is telling me that he just collected few late payments and charged $50/tenant for being late. Now, he's...
Dan Goeckel
Number of Occupants?
Are there regulations at the Federal or state (Michigan) level restricting the number of rental occupants per bedroom and siblings per bedroom? After 11 years we just had a mixed family move out and in the last three ...