@Oleg DonetsYou may be right, and that may be what I'll discover myself.

For instance, I see a lot of newer investors thinking they are getting a great deal only to discover that they are bidding on an HOA lien, meaning that the property they just "bought" is still subject to a mortgage in a superior lien position.

Many records are have flawed information especially because over the years improvements have been made on the property.

Then I discovered that through real estate, stocks, and passive income that my goals and dreams were attainable.

These all require applicants to submit an acceptable Letter of Explanation addressing each specific issue and occurrence.Rental HistoryBecause a current landlord may say anything to get rid of a bad tenant out of desperation, we also require information for the previous landlord of all applicants…Analyze IncomeMany landlords require a month of paystubs from applicants and just use these to calculate a monthly qualifying income…Employment StabilityUnless an applicant has exceptional credit, we strive to determine their stability of employment…AssetsWe are one of the few management companies that requires a bank statement as part of our application process…Letter Of ExplanationAny time there are credit issues or we discover an inconsistency, we require a written letter of explanation (LOX)…UnderwritingTraditionally, landlords have only looked at the income of applicants…ApprovalOnce an applicant is approved, we require a nonrefundable Holding Fee to make sure they are serious…

George Lake – Crossville, TN Discover the perfect lot near beautiful St.

There are plenty of hidden clauses (“gotchas”) even on non-recourse loans that many investors are only discovering the hard way.For loans on 5+ units, lenders typically require your (and your partners’, if applicable) net worth to be at least equal to 100% of the total loan amount, plus liquidity of 10% or more of the loan amount.

It’s about protecting your asset, keeping your tenants safe, and helping you play the long game so your investment is working for you, not against you.So, owners and investors: what’s the wildest surprise you’ve discovered about a property after taking it over?

We discovered this deal through our real estate agent, who acted as a double agent.

I'll try to keep brief, looking for anyone who has gone through this even on a small level and what their path was.First time out of state investor, BRRRR'd a property in Memphis (B- area) finished in May 2024. Bought...