update. 3rd applicant. Had 595k mortgage he did short on in 08. He is business owner, claims 100k. No stubs provided. He sent credit report showing several loans written off by bank, largest 67k. He owes 4k and late since 2011. When asked for reference from landlord he balked, says does not want to clue in present landlord he is leaving. Called bluff and asked for copy of lease as white pages .com shows his parents at same address he provided and claims he leases. No response 2 days.
So a pattern in Detroit and probably elsewhere not talked about by Piggs in Hot San Diego market has developed . A large pool of renters who still like the standard of living they are used to, with bad credit, with large bank accounts from not paying any bills or mortgages for 2 yrs is in need of prime housing for rent. Keeping little Johnny in his same school could be key. I have a call into a top lawyer to explore how to capitalize on this trend. If they can sell cars using “Bankruptcy OK” in adds, we can do same with houses and with right lease and right lawyer protecting us (and insurance) May have stumbled upon something. There is a pool, a very large pool of people with a great sum of cash, waiting for 5 or 7 yr time limit on credit reporting to expire, who need to rent and they do not want starter condo’s. How do we make a million off of these guys before the 5 yrs is up?Motown