All Forum Posts by: Richard Dunlop

There are limits to interest rates (usury laws) but you can up the rate by charging points on the loans. And don't lend to Owner occupants.

The seller's agent could not present the offer but  could write it up and buyer could give seller a copy.

The 700 FICO score tenant will find somewhere else to live (relatives friends) to avoid an eviction and or judgment on their record.

The 500 score is much more likely to stay until you spend money to get rid of them!!! 

I end up in this situation often.

Approach tenants/squatters/former owners friendly way

Put them on a SHORT-TERM WAY-BELOW-MARKET Lease (90 days 1/3 of market value) 

Gives you the opportunity to:

1)have rental application

2)Photograph the property condition

3)Record serial # of appliances furnace HW heater

4)Ask them what needs repair

5)Plan repairs/ remodel

6)Orchestrate an orderly move out 

7)Make sure they fully understand that they as Tenants are 100% responsible for any damage done in the term of their tenancy.

In Troy $50,000

In Detroit $3000 

Pixie Dust Energy

When you pull your own Credit Report multiple times

it bumps off the inquires  from TU and EQ but not from EX

Little known fact. 

Also look at your individual cards if one of them is high

utilization it can dramatically lower your score even if overall

your percentage is proper

Buying at the higher price in a lot of areas would inflate the property taxes. 

Burt home is a nice house

but occupied by squatters.