Apartments for Cheap

Questions and Answers

Your Questions About Duplex For Rent

April 2, 2012

Robert asks…

Will someone rent an apartment or duplex to me if I don’t have a job yet?

I’m moving to another state in a few weeks and I would like to be able to start moving into a place as soon as I get there. I read the newspaper of the town I’m moving to online already and I browse their ads. I’d love to get some relatives to go look at a couple of places for me. It would be great if I could get a place so I can start moving in right away when I get there, as opposed to putting my stuff into a storage unit and living temporarily with family.

Would they do that, if I don’t have a job right away? (Working on that too, btw. Filling out as many online apps as possible, plus the two physical ones that my relative mailed to me.)

I can afford first and last months rent, and then some.


Administrator answers:

Most landlords will not rent to you with no source of income. If you have a savings or something someone may give you a chance. Savings looks good but liquid assets are a huge risk that most landlords just will not take. The landlord has no way of knowing if that money will still be there when the next months rent is due. It may help to offer X # of months rent paid at move in.

William asks…

How much financing can I get for an owner-occupied duplex?

I am looking to buy a duplex, live in one half and rent out the other half. Are there any calculators or formulas available to see how much money I could get to buy one? I know that the more rent you make, the more money you are able to get, but are there any easy calculators or formulas that I can just plug in numbers and find out how much I can get? Thanks!

Administrator answers:

The actual amount of rent WHO receives ??? You ….you have never collected any rent ….you are buying it. There will be considered a reasonable amount in anticipation of incoming rent towards your total debt to income.
You can normally finance 90 % of the purchase price.
Do you own a property now ?? If not go FHA.
Look up my contact and I can do it for you.

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