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All Forum Posts by: Denver McClure

Denver McClure has started 1 posts and replied 525 times.

Post: Cash Out Refi

Denver McClure
Posted
  • Financial Advisor
  • Dallas, TX
  • Posts 565
  • Votes 452

Hey @Norma Ramirez, we have several lenders in our network that can help. Feel free to PM me.

Post: Applicant Screening Process

Denver McClure
Posted
  • Financial Advisor
  • Dallas, TX
  • Posts 565
  • Votes 452

Hey Jay, I have a ranking system that annotates strong vs weak inputs on a scale from 1-5. The higher the score, the stronger the applicant (1 = weak, 3 = fair, 5 = strong). The columns change based on my MTR and LTR applicants, but I would recommend you start with the following inputs:

Credit History, Criminal Background, Current Employment, Income, Employment History, Desired Lease Length, Desired Lease Start Date, Pets (if applicable), Interview Performance, and Reference Performance.

The higher the cumulative number, the better the applicant.

Post: Dallas Land Investors

Denver McClure
Posted
  • Financial Advisor
  • Dallas, TX
  • Posts 565
  • Votes 452

Hey @Ray Mcalmont, I'd recommend speaking with @Harrison Sharp. I know he has several clients who invest in land around the DFW area.

Post: Applicant Screening Process

Denver McClure
Posted
  • Financial Advisor
  • Dallas, TX
  • Posts 565
  • Votes 452

Hey @Jay Levy, an easy option is to use keycheck to run your background and credit checks. You can select the option to have the applicant pay for the service. Once I receive the reports, I usually have a zoom meeting with the applicant, ask for two references, and chat about their employment. It's important to get to know the applicant before you just sign off after a fair credit/background check. I created my own tenant tracker to rank each applicant following those meetings. Everyone has their own process, but I recommend starting in excel with a unique ranking system based on the inputs that concern you the most.

Post: 1031 exchange referrals

Denver McClure
Posted
  • Financial Advisor
  • Dallas, TX
  • Posts 565
  • Votes 452

Hey @Renny F., I'd recommend chatting with @Whitney Nash

Post: HELOC options on a rental property with FHA

Denver McClure
Posted
  • Financial Advisor
  • Dallas, TX
  • Posts 565
  • Votes 452

Hey @Niboom T., we have a lender in our network that just helped a client with a similar situation. Feel free to PM me if you want to chat.

Post: Insurance providers in Oklahoma

Denver McClure
Posted
  • Financial Advisor
  • Dallas, TX
  • Posts 565
  • Votes 452

@Stanley J Black might have a few carriers in OK for you.

Post: Landlord Insurance for properties in Texas and New Jersey

Denver McClure
Posted
  • Financial Advisor
  • Dallas, TX
  • Posts 565
  • Votes 452

Hey @Nick Gupta, reach out to @Stanley J Black. He does a ton of business in NJ and TX and can help you out.

Post: HELOC Options in Indiana

Denver McClure
Posted
  • Financial Advisor
  • Dallas, TX
  • Posts 565
  • Votes 452

Hey @Jordan Harrill, we have several lenders in Indiana that can get this done. Feel free to reach out if you'd like to chat sometime.

Post: Six-Plex Purchase in Watertown, NY

Denver McClure
Posted
  • Financial Advisor
  • Dallas, TX
  • Posts 565
  • Votes 452

Hey @Michael Lee, we just completed another six-plex loan in NY last month with similar terms for our client. I'll send you a PM.