Hi REIN members,
I am working on an RTO deal and would like to set it up such so that there is no problem later with proving down payment/credits when RTO tenants go to secure their own financing to buy the property.
What are some of the more common and effective methods investors use to prove to lenders the down payment paid in by RTO tenants during the term?
On a related note, I would love to reinvest the cash I receive from the RTO tenants and not just keep it in a savings account for 2-3 years. I am wondering if I would need to hold on to the actual cash received from tenants for proving their down payment later?
Many thanks!
Will
I am working on an RTO deal and would like to set it up such so that there is no problem later with proving down payment/credits when RTO tenants go to secure their own financing to buy the property.
What are some of the more common and effective methods investors use to prove to lenders the down payment paid in by RTO tenants during the term?
On a related note, I would love to reinvest the cash I receive from the RTO tenants and not just keep it in a savings account for 2-3 years. I am wondering if I would need to hold on to the actual cash received from tenants for proving their down payment later?
Many thanks!
Will