- NEW!
by Jenniferocious on August 24th, 2009
Yes. Some lenders have maximum rent:own ratios that they use when deciding whether to finance the purchase of a condo/townhome.
They like to see owners occupying the units - not renting them out.
by Phillis - Zacks little sister on August 24th, 2009
It depends on numerous factors. Location is always important, which I'm sure you already know. But if the units are successfully rented (even if it was originally meant for homeowners to live there), that means they're rentable, which makes them a money-maker.
How well they've been taken care of is a HUGE factor. Many rental places look like dumps. No one will buy them until the owner forecloses. Often, they will force an owner to foreclose (by submitting low ball offers) if they know it's a distressed property, then buy it, rehab a few units for tenants, while rehabing the rest. After the leases are up, they sell the whole thing.
It doesn't matter if the units were never intended to be rentals. If it's a money-maker, it'll sell. +5
My mother recently passed away, at probate her will proved invalid. My brother will not move off the property so it can be sold. What do I do to get him off?
by luckycat on July 31st, 2009
| 1 person likes this
Is it true that when you have more than say 7 renters to 21 units, can it make it difficult for home owners to sell because the lenders see that the ratio of renters is higher than owners?
by FiredUP on August 24th, 2009
| 1 person likes this
If your house if selling at an auction because of forecloser, is the auction date the day you have to be out of the house by?? We dont know when we have to be out?
by Anonymous on March 11th, 2009
| 1 person likes this
I purchased a house just recently, i put one of my friends on the deed. The loan is under may name and the down payment was paid by me, i have asked her to move out but she refuses to, what are her rights since her name is on the deed?
by Anonymous on August 1st, 2009
| 1 person likes this
I'm resident in dubai & have US visit visa(B2visa),if i buy a property in US,is there a way to be a resident or to get green card
by rbarri on June 28th, 2010
| 1 person likes this
You're reading Is it true that when you have more than say 7 renters to 21 units, can it make it difficult for home owners to sell because the lenders see that the ratio of renters is higher than owners?
Your favorite Q&A site is on Facebook! Become a fan to connect with the ever-growing community of Answerbaggers, share your thoughts and find out what Answerbag's up to next!
Comments