288: Rookie Reply: Tenant Red Flags and BEST Investor-Friendly Loans
Want a better rental property loan? You’ve probably tried talking to banks, brokers, and residential lenders about growing your real estate portfolio, only for them to hit back with W2, income, and credit score requirements. Is there a loan that gets around these conditions for those that are hard to fund? What if you have a rock-solid real estate deal but no nine-to-five income to show to a bank? Well, there’s one type of funding you’ve probably never heard of, and real estate investors nationwide are starting to take advantage of it.
We’re back with another Rookie Reply as Ashley and Tony embark on an emotional journey down eviction lane, discussing what to do when bad tenants stay in your property and how to ensure it never happens again. But that’s not all; Ashley and Tony bring their tenant red flags that ANY landlord should know about when interviewing potential renters. They’ll also touch on subject to, seller financing, and other creative ways to fund your real estate deal, plus why you should (or shouldn’t) buy a historic home. Finally, you’ll hear about the investor-only loan so many people are using to grow their portfolios even faster!
If you want Ashley and Tony to answer a real estate question, you can post in the Real Estate Rookie Facebook Group! Or, call us at the Rookie Request Line (1-888-5-ROOKIE).
In This Episode We Cover
The one rental property loan that big-time investors are using to multiply their portfolios
Evicting a tenant and how to recover rent payments that you’re owed
Tenant screening tips and red flags you should look out for when interviewing tenants
Creative financing and how seller financing and subject to deals create win-wins for buyers and sellers
Buying in a historic district and the grants and tax advantages you may be entitled to for doing so
And So Much More!
Links from the Show
Book Mentioned in the Show:
Wealth without Cash by Pace Morby
Check the full show notes here: https://www.biggerpockets.com/blog/rookie-288
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