So you have bad credit? Or no credit, but want to get into your
home? Rent or lease of property House may be the ticket to
get that second chance to live the American dream. But do not get
so wrapped up in a dream you can not see reality.
I bought ten houses in less than six months and knew I had to
something. I bought rental houses to tenants and found
win-win for all three countries.
Then I started to hear the scam, which has been going through the investor
the world. Unknown tenants of rented houses from investors, but they were
making some big mistakes. Let's look at the top four, that are carried out every day and how you can avoid the same.
Error # 1
** ** The rent is
One of the most significant error is when a tenant gets into the house
because they can afford to pay rent or a month. And they
never find the time, I can afford the payment when I get
ready to buy a house.
Do not get locked for easy payment and forget their purpose. You want to
Own this house for one day. Go to one of free online calculators. Bankrate.com is a great one. Figure out the payment calculation
price and interest rate. Now ask yourself, can I afford to buy it
house one day, or am I just kidding myself and just rent.
Error # 2
** Price **
Are you overpaying just because you want your house? Do not be do not be fooled and blind, I thought you might be overpaying for the house only
because you want your house? Time for research
neighborhood. Pull out flyers house to sell. Does it come
close to its price? Call a real estate agent top. Ask what is in
In this neighborhood sales. Do not pay too much, at
luxury living in your home today. You will regret it.
Error # 3
** Support **
So now you are the owner-in-training? You're taking care of
care. But when is too much? What do you read the contract?
How much maintenance you are responsible for? If the roof goes, you
has come up with $ 5,000?
That being said, it is true that many investors in rental property or lease
because they do not want to be owners. Midnight calls to unclog toilets.
No, thank you. Bottom line, make sure that your contract restrictions
care that you are responsible for.
Error # 4
Let's call this period **. **
Let's define it:
The time that you can buy a house that you rent or lease duration.
What is the problem and why is it important?
There are investors / owners, which will take you to the house, and know
after that time of year there is no way you will be able to get a loan.
You see, many times in one year is not going to be enough time to heal * **
** ** or repair your credit.
It's just not enough time.
Do not get into position, you will not be able to buy a house.
You lose your own money.
You have a contract that expires in one year. Now you can do nothing but
movement.
The landlord may ask you to leave and you have to leave. House
and then leased back for higher rent and a higher purchase price, and you
looking for near the house.
How to avoid:
Before getting into the main contract for the mortgage brokerYour town. Here you can find a paper that will be advertising to help
people with bad credit.
Let him run your credit and make sure you say that you want
their honest opinion. Are you a loan and what time of year
You need to make that happen. What will be the rate that you are
watch?
Do not let them just tell you what they think you want to hear from you. "Give it
me straight, doc. "
Let them help you with a game plan on how to improve your credit
future.
Let me summarize the error:
Avoid errors related to prices, rental
the amount of care and duration of the contract.
I hope you learned something. I know that now
You'll be taken to another house with more info.
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