How to Screen Applicants like a Pro, Part 2: Debt-to-Income Ratios
Friday, January 01
The industry standard for screening prospective tenants’ ability to pay is to use the rule that their income should be 3x the rent amount (not including utilities). However, a prospect’s ability to pay and their likelihood of paying on time and in full, every month, are two different things. H...
How to Screen Applicants like a Pro, Part 1: Verifying Credit Reports
Friday, January 01
In this series, we’re showing landlords how to screen applicants like the professionals do. The first thing we’re looking at is how to professionally verify credit reports. Many landlords (and even some property management companies) just use credit summaries - but these rarely tell the whole ...
Metro Detroit Cities Deep Dive: Hazel Park
Friday, January 01
There’s no doubt that Metro Detroit is a green pasture for those interested in buy-and-hold investment opportunities. The area is popular for its strong rental market with affordable housing stock. However, it’s also notorious for being overwhelmingly confusing, with its 185 cities and 290 neig...
Metro Detroit Cities Deep Dive: Eastpointe
Friday, January 01
Metro Detroit is known as a strong rental real estate market. With its affordable housing stock and good rental cashflow opportunities, it attracts investors from all over the country (and the world). There are lots of investors who want to buy in Metro Detroit, but the wide variety of neighbor...
Metro Detroit Cities Deep Dive: Redford Township
Saturday, December 12
If you’re interested in buy-and-hold rental opportunities, then you’ve likely heard of Metro Detroit’s strong rental market and its affordable housing stock. With the overwhelming variations between its cities and within individual neighborhoods, many out-of-state and out-of-the-country investo...
The Rental Industry’s Future if COVID Lasts 6, 12, 24+ Months
Wednesday, November 25
The “new normal” that the Coronavirus has brought isn’t new anymore--it’s just “normal” now. While US businesses are mostly operating as usual, there’s no end yet in sight for this pandemic, and we’ve all gotten used to being uncertain about the future. In the words of the Greek philosopher, H...