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[Incognito]

ok, a friend of mine wants to move out and into a new apartment. however, he's not working, and i know most apartment complex's require verfiable proof of income. so i've already told him he'll definitely need a co-signer, yet his question is this:

"what if i give them first years rent in cash? will they still need verifiable proof of income and a co-signer?"

he has a bit of money stemming from a car-crash lawsuit a few years ago, and is finally fed up with the parents.

btw, i live in texas.

 

[CueTheMusic]

I think he'll be ok.

 

[Tommie Hu$tle]

If you show up with a years worth of cash in anything you'll be better than ok. They may cut you a deal on the price given you two or three months off the rent.

 

[levious]

most places will be leary of a young adult paying rent up front like that... if he is able to explain his situation in detail it might be ok.

Most corporate apartments it won't matter, he'll need proof of income/co-signer.

 

[darscot]

You need a co-signer to rent a pad down there? What kind of place is he trying to rent? I never had any trouble ever renting back in the bachelor days.

 

[levious]

he apparently has no current income

 

[Tommie Hu$tle]

most places will be leary of a young adult paying rent up front like that... if he is able to explain his situation in detail it might be ok.

Most corporate apartments it won't matter, he'll need proof of income/co-signer.

Yeah, no that I think about it a guy with no job but, has 6 to 10k to put down on a apartment would raise flags all over the place.

Hell, if you have that kind of cash you should buy a house and then rent it out.

 

[darscot]

Skip the apartment, they suck get a few guys together and rent a house. I got hassle in every apartment I ever lived in. Your just way to close together. With a house all you have to do is cut your grass the same time the neighbor does and people will leave you alone.

 

[Tommie Hu$tle]

Skip the apartment, they suck get a few guys together and rent a house. I got hassle in every apartment I ever lived in. Your just way to close together. With a house all you have to do is cut your grass the same time the neighbor does and people will leave you alone.

Agree

 

[Loki]

Yeah, no that I think about it a guy with no job but, has 6 to 10k to put down on a apartment would raise flags all over the place.

Hell, if you have that kind of cash you should buy a house and then rent it out.

Dude, where do you live that $6-10K is enough for a down payment on a house? Here in Brooklyn, that wouldn't even cover the realtor's fees. Typical down payments are around $35-65K.


Send me a ticket to Hu$tleville ASAP, please.

 

[Tommie Hu$tle]

Dude, where do you live that $6-10K is enough for a down payment on a house? Here in Brooklyn, that wouldn't even cover the realtor's fees. Typical down payments are around $35-65K.


Send me a ticket to Hu$tleville ASAP, please.

Wow. Really, in Phx you drop about 5k and that will put you in a 2200 sq foot house.

 

[Cubsfan23]

You can put 10% on a house here. I just did a $15,000 payment with my sister. It's better to have 20% though, because you pay less for insurance and whatnot

 

[Loki]

Wow. Really, in Phx you drop about 5k and that will put you in a 2200 sq foot house.

Is that property or interior space? One floor or two? (I assume that "cubic feet" would be the units used if we were talking about a two-story house, but I'm not sure)


That's incredible, at any rate; $5k here will get you a grand tour of the house if you're looking to buy. Seriously, assuming that's 2200sq. ft. of interior space with two floors (i.e., 2200 sq.ft. on each floor), that would run you at least $750k here. Even if it was just 2200 sq. feet total (one floor), that amount of square footage would still be priced at around $500k+ here, no matter how it was distributed.

 

[Tommie Hu$tle]

Interior space. I bought my house at 143k 3 years ago and I put 2k down and closed with another 3k.

Single floor 3 bedrooms 1 office backyard to a pond. That doesn't include the garage.

 

[Drinky Crow]

I put 0% down on a $268,000 2000 sq. ft. home in the frickin' Seattle suburbs. IT'S CALLED AN FHA LOAN FOR FIRST-TIME BUYERS, KIDS. There's a LOT of government programs to help first-time home buyers out -- get a good mortgagor, and they'll help you find 'em. I just dumped what was going to be my down (minus escrow and closing costs, of course) into my first set of payments, and it went straight into equity. ROX.

 

[Tommie Hu$tle]

For 280k you could get a 5 to 6k sq foot home in Arizona.

 

[Drinky Crow]

I don't ever want to live in Arizona. I can't imagine a better place than Seattle. Okay, maybe Amsterdam.

 

[Tommie Hu$tle]

I don't ever want to live in Arizona. I can't imagine a better place than Seattle. Okay, maybe Amsterdam.

I don't ever want to live in Seattle. I can imagine better places but, to much weather up there for me.

 

[Incognito]

yea, 280k will get you a mansion down here in san antonio. anyway, my friend has about 80k in the bank from a lawsuit that was settled, so i'm sure if he's frank with them he'd have no problems. he's a bit stupid, though.

 

[ShadowRed]

I put 0% down on a $268,000 2000 sq. ft. home in the frickin' Seattle suburbs. IT'S CALLED AN FHA LOAN FOR FIRST-TIME BUYERS, KIDS. There's a LOT of government programs to help first-time home buyers out -- get a good mortgagor, and they'll help you find 'em. I just dumped what was going to be my down (minus escrow and closing costs, of course) into my first set of payments, and it went straight into equity. ROX.

I've heard that 1 in 3 people that put 0 down on their house has it forclosed on within 5 years.

yea, 280k will get you a mansion down here in san antonio. anyway, my friend has about 80k in the bank from a lawsuit that was settled, so i'm sure if he's frank with them he'd have no problems. he's a bit stupid, though.

Dude then why the fuck doesn't he buy a house? Why waste all that money paying someone elses morgage?