All Forum Posts by: Pete T.

You could have them do direct deposit or have them send the lease to you and you sign upon reciept of funds and send them a copy. There are a lot of things you could do, but I always like to meet w/ the tenant when the sign the lease, receive the money, do the walk through w/ pictures, and discuss everything to ensure we are on the same page about everything. The more you cover, the less chance there is something becomes a problem.

@Brandon, what I think Levi is it will be hard to get someone to invest in something w/o something that shows they will make money. Cash flow is pretty cut and dry- something that an investor can have confidence in. Without a track record or money, it could be hard to find someone that would invest. Try your local area, maybe someone sees the same thing as you. I am not sure what the cause of the 99% positive is, but buying and hoping values raise is the definition of speculation. Also, look at what you can bring to the deal that would make someone want to work w/ you.

@Brian, I am in the military as well and in a similar situation. I was going to suggest looking at other lenders, but it seems you found your answer. Some lenders will do a straight 75% of your rentals and that allows you to lower your DTI if they are not counting some of your properties for various reasons (improvements costs, new- no schedule E yet, etc). Were you saying you were negative CF and not taking deprecision?