All Forum Posts by: Nick Flint

@Tony Crabtree

See if he can provide you with any proof of income that he didn’t put on his tax returns. Previous bank statements showing deposits, website screenshots or PayPal transactions if he does freelancing work. Although like the others have said, I recommend holding out for someone that does meet your rental qualifications. It’ll end up saving you money if something goes wrong, and the headache of the eviction process.

@Jonathan Guerrero

Hey Jonathan! On the BP homepage click on “tools”, then “calculators”, and there’s some great options there for helping you calculate the numbers. It might even help you add in some things you might’ve forgotten on your own such as vacancy.

Good luck and happy investing!

-Nick

@Paul Kliebert

Do you mean anonymous as in your tenants won't be paying you the checks, they'll be paying it to the LLC?

@Donald Walker

There was one good quote from one of the guests talking about risk. The risk of buying a house, the risk of putting most of your money into a flip, he said there’s another risk to consider. The risk of being 70 sitting in a nursing home kicking yourself for not trying harder in life, wishing you had the guts to take a risk. That’s not my sole motivation, but is definitely one of the moments that stands out from my time listening to BP

@Doug Shapiro

@Kurt K.

@Stacey M.

@Basit Siddiqi

Do one of you mind sharing a screenshot of how your excel sheet looks so us newbies can know how ours should look?

Thanks in advance!

I wouldn't say they're "scared", but they will look at your debt to income ratio. I'm a recent grad and just went to my local credit union for approval, and they said they'll look at my last paystub to determine income. So graduate, get a job that you can have a paystub for, and use that for your approval. Do you have any money set aside for a down payment? Because they will play a large part in what you get approved for/how much they offer.

Check out 212 Loans. I live in Tampa and I was looking into them for a hard money lender before I went with owner financing. The main thing they look at is how much of a down payment you can come up with. You can submit an app for free on their site and they won't do a hard credit pull on you.

@Chad Kastel

You could always blackout those dates at the moment, and as it gets closer start seeing what others are listed at and if they’re all sold out and match those prices.

@Steve Morgan

Off market deals can be more lucrative, but not always. Since the general public doesn’t know it’s for sale, you’re not competing with as many offers.

Makes sense, and yeah they have specific ones about smarter grocery shopping, organizing debts and paying off higher interest ones first, hiring a financial planner, etc. Just check out the titles and see which ones apply to you