All Forum Posts by: Caleb Campbell

Hello, I have a question about a potential tenants credit report, from Zillow Rental manager and Experian. The credit report results for this potential tenant and her fiancé came back with N/A for on time payments and credit used. Monthly payments and debt say zero. Is this a glitch in the system? Is there nothing to report because they have no debt? They both only have 550 credit scores, so I’m questioning the accuracy here. Please help....thanks

(Also trying to contact Zillow or experian yields no results, as it will not allow you to talk to a human)

Thank you everyone for the great input. I’m definitely taking your advice and it seems to be working so far. 

I just listed my rental through Zillow, and I’m getting all kinds of responses. So my question is, do you respond or make contact to every request? The basic questionnaire on Zillow asks about employment and wages and many of these requests are from people whose yearly salaries don’t seem to add up to be able to cover rent. I’m getting many requests to see the property. Should I pre screen before showing a property? What process works best for you?

@Jake Vayda not real sure about the commercial aspect of it or the refinancing yet, but for a traditional home loan First Federal of Lakewood was great. I’m looking to refinance in the next couple months and they’re going to be my first call.

There’s a local landlord association near me that is a $200.00 a year investment for membership. According to their website you get many forms and things free. Is this a good investment or are there better associations that are free? To me it seems like a good investment but just looking for advice on this?

@Zach Westerfield thank you for the great advice! I’m more so looking for a value add. Ideally a multi family but a single family will work too. That makes way more sense what you described. I think I’m getting too caught up in house prices vs the numbers that work in the end

Hello my name is Caleb and I’m looking to buy my first rental property. I have some money saved up but less than 30,000. I am approved for a traditional investment mortgage but only about 100,000 with 20 to 25 percent down depending on the type of house. I am told that I can’t get a mortgage on a house less than 50,000. Am I better off buying outright with cash and personal credit or using a traditional investment mortgage?

@Jonathan Barr thank you. This definitely gives me things to think about.

@StewartBeal, Ok thank you for the advice! 

Thank you @Stewart Beal!  That Makes sense. Would you recommend traditional financing or hard money? FYI I do currently have a mortgage on my primary residence