stepping_up_IHB
New member
I just learned two days ago that this SW CM house was rented in March for $2,800/mo. How is that possible? I would have figured if you were patient and diligent in screening that a nicer version of this would be worth $2,300/mo tops. How is it possible to get that kind of rent? Does a landlord lower their standards for income and credit like other "lenders" to high risk people?
At first we thought there were a gazllion people living there, but it seems to have turned out to be visitors for a weekend. The tenant seems like a nice enough and responsible lady, but there must be something wrong. I can steer her around the corner into ownership for less than she's paying in rent as long as she has good credit, 3% down, documented income and a bit of reserves. How is this landlord getting this kind of rent for this house?
I heard the woman who bought it in Feb lives in Arizona and has several rental properties in the area. On top of her $450K purchase price, she also put some money into fixing it up. $2,300 I could understand, but can someone please explain how she is getting $2,800/mo for this house?
At first we thought there were a gazllion people living there, but it seems to have turned out to be visitors for a weekend. The tenant seems like a nice enough and responsible lady, but there must be something wrong. I can steer her around the corner into ownership for less than she's paying in rent as long as she has good credit, 3% down, documented income and a bit of reserves. How is this landlord getting this kind of rent for this house?
I heard the woman who bought it in Feb lives in Arizona and has several rental properties in the area. On top of her $450K purchase price, she also put some money into fixing it up. $2,300 I could understand, but can someone please explain how she is getting $2,800/mo for this house?
