All Forum Posts by: Kaulin Galluzzo

Hi Everybody,

We have found a stellar deal in Ohio. Great CoC, great location, multi family, and a value add opportunity. The ideal property in our eyes but we are having troubles getting qualified for mortgages because we are Travel Nurses. We are making much much more than when we were full time staff but due to "variable income" we are having troubles getting approved for mortgages through banks. A majority of our income comes from per diems for hosting and food.

Any ideas of national lenders/private money lenders that could help with our situation?

Is there any way to make the "variable income" non variable from an underwriters perspective?

Thanks for any and all help!

I recently purchased a property in Akron, Ohio. The tenants that live there have lived there for two years.

During the first lease a security deposit was collected by the previous Landlord and rolled to the second one.

However, the second lease does not explicitly state that it was rolled over from the previous lease and it was simply an agreement between the previous Landlord and the tenants.

During closing the security deposit was never applied as a credit and the previous owner is stating that he doesn't have to pay us because "it is an incurred expense on the new owners because it wasn't explicit in the closing contract." This doesn't seem right.

Shouldn't the security deposit transfer to us from the lease?

Any help will be much appreciated.

Thanks!