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re: Rent help?
Posted on 8/5/13 at 3:02 pm to eng08
Posted on 8/5/13 at 3:02 pm to eng08
quote:
Also realize that they are renting for a reason and credit will probably not be great.
Really? My credit is great, my rent is higher than the average american makes in a month, that's pretty ignorant school of thought. There's people in my building with $15K/month rentals, you live in a bubble if you think people rent bc they can't buy. I'm renting for $500 more than my landlord pays in taxes and maintenance. When you factor in insurance, the fact $300 of cable and internet are included, the fact I pay $120/month of electricity on a 2200 sq ft condo, and the fact I'd need at least $200K down to buy this place, I have a steal at what I pay.....It would easily cost me $5k more a month than Im paying now in the form of a mortgage to buy it. Buying isn't always the best option, if you can afford it you can get more bang for your buck as a renter, sure you lose on equity, but I'm not worried in the long run bc I have businesses and investments that offset the loss of built equity.
This post was edited on 8/5/13 at 3:06 pm
1
Posted on 8/5/13 at 3:13 pm to ThaBigFella
Yes, I made several assumptions. He said house in BR, so I assumed its an average 3 bedroom / 2bath.
I generalized from my previous experiences with my rental properties.
In the case of a much nicer and larger house, yes I would expect better or good credit.
I was more suggesting that bad credit may not be a sign of bad renters. Several have had bad credit and were great, others have decent credit and are fine too.
I generalized from my previous experiences with my rental properties.
In the case of a much nicer and larger house, yes I would expect better or good credit.
I was more suggesting that bad credit may not be a sign of bad renters. Several have had bad credit and were great, others have decent credit and are fine too.
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