Steve Ellison
Becoming a landlord primarily to establish rental history
About six months ago I posted about my situation and got some good advice. Now that I’m ready to actually do something about it, I’d like to run it by everyone again with a little more detail.My goal is to buy a new ...
Kimberly T.
Can "having a job" be part of your tenant screening criteria?
Hear me out.
Let's say part of your screening criteria is a minimum of 3x rent as income. In CA and some (all?) other states, you cannot discriminate based on source of income. That means if the prospective...
Johanna Castel
Tenants not paying rent on time
So we have an issue. My grandma owns a home and I do part of the landloring for her. We rented the 2nd fl apt to fellow church friends. Now at first my grandmother did not want to do business with church people but go...
Ethan Wofford
Wholesaling Bueyrs Questions
When I hear people talking about their buyers for wholesaling they always say cash buyers. Do the end buyers you assign the contract to have to actually buy it in the full amount with cash or can they take loans out t...
James H.
Hard Money Details
I have found a HML that will lend up to 70% ARV at 12 percent. The closing costs are 3000 (which includes one point at closing) and there are 2 points due at payoff. Draws for rehab require inspection at a cost of 125...
Derrick Lubomski
Getting my ducks in a row for my first deal!
All the hype on where to make the most money and find the best deals seems to be you have to find them off market. This being said, I have been trying just about every option possible outside the MLS to find a duplex ...
Kurt Traynor
10years remaining on rental, should I refi to a 30 and cash flow?
I did the HARP loan back during the crash and turned my 30 year note to a 15 with plans on living in the house until paid. Situation changed and purchased a new home and decided to rent out my home in question. Dil...
Debbie J.
Section 8 Tenant wants to add 2 more-should we ask for more rent?
We have a tenant on Section 8 in Missouri. Single mother. She wants to add her son's pregnant girlfriend and, in fairness to her daughter, her boyfriend. "To help them get on their feet". (We are not here to couns...
Sarah Buchanan
Screening Tenants: Gross vs Net Income?
I have a married couple prospective tenants that look ideal; credit scores above 800, previous homeowners, etc. Rent is $2400/mo so I require $7200/mo income. Husband is currently unemployed (due to COVID) and wife m...
Tomas Valladares
Cash Flow on House Hack
Hi BP community! I'm looking for some guidance on house hacking. Background:I'm in the DFW area and preapproved for 300k at 7.25%. The houses in my area that could work (3bd 2ba) are at the bottom of the market around...