Renting an expensive house

[gusmahler]

[ QUOTE ]
They will think you are a drug dealer. Who cares? You're not.


[/ QUOTE ]
OP should care. If you were a landlord, would you rent to someone you thought was a drug dealer?

[Lyric]

[ QUOTE ]

Depending on if the place is run through a management agency or if any of the insurance or upkeep is they may have rules over who they can rent to. I.e., only to people with good credit and/or whose gross monthly income is more than 3x the rent (and they may not accept your poker income as legit for this type of check). If you can afford to front 6 months' or a 1 year's worth of rent most places probably will drop the worries, but some may not. But I'm sure if you are persistant you'll be able to figure it out. Worse comes to worse rent a cheaper apartment for 6 months and build up your credit/renting history. Oh, the other thing that might work to try, if possible, is to have your parents cosign the lease with you. If your parents are on the hook for the rent then places may be more willing to take you.

[/ QUOTE ]

I have good credit and a good rental history. Two of the guys planning to move in with me have little credit and no rental history.

[BradleyT]

I don't suppose anyone has a copy of last years tax returns they could show the potential landlord proving they're an online pro? May be easier after Jan 1st if you file right away for 2006.

[moayer]

50k cash? what is preventing you from buying a house and renting a couple rooms to your buddies?

[Brainwalter]

[ QUOTE ]
50k cash? what is preventing you from buying a house and renting a couple rooms to your buddies?

[/ QUOTE ]

[ QUOTE ]
expensive house in the bay area

[/ QUOTE ]

[BradleyT]

[ QUOTE ]
50k cash? what is preventing you from buying a house and renting a couple rooms to your buddies?

[/ QUOTE ]

If 2x deposit + 6 months rent is $50K the house is probably close to the million dollar range for buying. That would require about $200,000 down.

[fish2plus2]

how many are living in the house? just pay cash.

[Lyric]

[ QUOTE ]
[ QUOTE ]
50k cash? what is preventing you from buying a house and renting a couple rooms to your buddies?

[/ QUOTE ]

If 2x deposit + 6 months rent is $50K the house is probably close to the million dollar range for buying. That would require about $200,000 down.

[/ QUOTE ]

It would also require at minimum $8,000/month to the bank. The houses we are looking at are worth $1mm to $3mm. I'm not sure I will stay in CA long enough to justify it.

[Lyric]

[ QUOTE ]
how many are living in the house? just pay cash.

[/ QUOTE ]

4 people in the house. What do you mean just pay cash.

[SumZero]

[ QUOTE ]
50k cash? what is preventing you from buying a house and renting a couple rooms to your buddies?

[/ QUOTE ]

Ha! Bay Area means detacted houses are typically $1M+, 3 bdrm townhouses are ~$750K. And now is likely going to be a terrible time to enter the housing market.