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FrozenVent posted:Did anyone so far give you a reason why you're being turned down? Just because of being a contractor? That's not a valid reason. I've been through this with rentals and mortgages. There is another part of this story that hasn't been told yet.
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Sep 20, 2017 00:56
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I don't know if SoCal is similar to northern California when it comes to dickish landlords, but up here a contractor with income split across six different employers who came with 4V+2T would get rejected almost everywhere unless he was churning so much dough that his gross:rent ratio was through the roof. Even then, they'd tell him to gently caress off with the vehicles and pick 1, maybe 2 to be allowed to park on property. Still, the fact that you're getting to the credit check part and not just getting laughed out the door in the first place makes me agree that you're not telling us something. Is your credit poo poo? Did you declare bankruptcy in the past? Do you have claims against you from previous landlords? Any landlord references at all? Do you also have pets? You might not be in current monetary straits (maybe?) but it still sounds like there's something these guys are flagging in your credit check / references and saying "gently caress noooooo" to when they see it. That's why everyone's digging in; something's not passing the smell test.
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Sep 20, 2017 06:53
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Is there a thread where BFC meets with Goons with Spoons? I'm trying to change from eating out often to eating out rarely, but I could use advice on how to make my grocery dollar stretch a bit.
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Sep 20, 2017 19:46
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TequilaJesus posted:Is there a thread where BFC meets with Goons with Spoons? I'm trying to change from eating out often to eating out rarely, but I could use advice on how to make my grocery dollar stretch a bit. https://forums.somethingawful.com/showthread.php?threadid=3442278&pagenumber=1&perpage=40
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Sep 20, 2017 19:51
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TequilaJesus posted:Is there a thread where BFC meets with Goons with Spoons? I'm trying to change from eating out often to eating out rarely, but I could use advice on how to make my grocery dollar stretch a bit. http://goop.com/my-29-food-stamp-challenge-and-the-recipes-brouhaha-that-ensued/
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Sep 20, 2017 23:45
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TequilaJesus posted:Is there a thread where BFC meets with Goons with Spoons? I'm trying to change from eating out often to eating out rarely, but I could use advice on how to make my grocery dollar stretch a bit. In my opinion consistency is more important than anything else, since eating out for convenience is so much more expensive than almost anything you could cook at home. So what I would shoot for is meal prepping. I cooked 30 meals last Saturday in about three hours, for example. Portioned them all out, and froze them. Now I'm good for a while. I haven't eaten out for convenience in....literally years.
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Sep 21, 2017 02:28
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Is there a Service Industry thread somewhere that I completely missed? Cause that would be my jam
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Sep 21, 2017 06:56
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C2C - 2.0 posted:Is there a Service Industry thread somewhere that I completely missed? https://forums.somethingawful.com/showthread.php?threadid=3375646
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Sep 21, 2017 07:24
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Such an affront to all of us bright, hope-filled bartenders with zero substance issues!!!!
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Sep 21, 2017 13:35
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6DP7l7pDWJQvqHnFlC97 VRrc8NHD9he1OCnloxma AywTNfCDAVF4OCen0tmD i8YQ48mfWYF9AJJBo1DL rst7XCTGx5eT1o5f1ptM tGkgRzg8DiyBA8c6VtsM D7CbgJExE0pbnodo11vZ Q3buZiTAGj6ZuzeDu6vY TJlaZe2h65XsO7hMGjqS AU9vJMannPyzv04TK1Ii Plasmafountain fucked around with this message at 21:52 on Feb 28, 2023 |
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Sep 21, 2017 20:37
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FrozenVent posted:Did anyone so far give you a reason why you're being turned down? Just because of being a contractor? "Better Qualified Applicant" is what I've been told more often than not. Most agencies I have dealt with give the landlord a number of applicants to choose from, and I've been in the "Top 3 applicants" for over 2 years. Individual landlords usually just say "Sorry, went with someone else." Sundae posted:Still, the fact that you're getting to the credit check part and not just getting laughed out the door in the first place makes me agree that you're not telling us something. Is your credit poo poo? Did you declare bankruptcy in the past? Do you have claims against you from previous landlords? Any landlord references at all? Do you also have pets? I did neglect to mention that we have 2 outdoor pet rabbits, but other than that, our past is clean. Our background checks are clean, our credit scores aren't great, ~650ish for both of us, no bankruptcies or dings for debt. Part of my purchasing the bike was to get the additional loan on my credit to help build it. I'm really not trying to avoid telling some poo poo, her landlord history is out of state and mine's up from norcal so that can turn someone off. My overall income only comes to around ~3.5k/Mo and it fluctuates. So some months it can look like I make as little as 1k but I've actually made more under the table. S/O only brings in like 600/mo on disability. We both have multiple severe allergies which prevent us from wanting to seek shared space or try to manage a shared situation. We're on waiting lists for public housing assistance even but the waitlist was 5 years long when we applied a year ago. Sundae posted:You might not be in current monetary straits (maybe?) but it still sounds like there's something these guys are flagging in your credit check / references and saying "gently caress noooooo" to when they see it. That's why everyone's digging in; something's not passing the smell test. Right now, it's not the best money time ever and it seems to me they look at 1-3 of my job references and don't consider the others. They ask for pay stubs but once I cross the threshold of the third paystub, they're looking at me like I'm making poo poo up. Within the next year, my income will triple due to completion of Licensing and promotion. Hell, I have a teacher who runs their union, been in the same district for 30 years and makes 11k+/Mo co-signing for me and I'm still getting brick walled. I thought for sure when I started getting them on board with me. I consulted a local property management group owner who told me that his entire property list is 100% occupied and that there's a housing shortage in the area as far as rentals go and it's a landlord's market. I've seen basic apartments I was looking at 18months ago for 1600 going for 2300 now and that's just way outta my range. A friend offered to help me with some paystubs for me to be able to condense my income into a single verifiable source for prospective landlords at least, though that seemed excessive to me. Bob Log fucked around with this message at 06:47 on Sep 22, 2017 |
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Sep 22, 2017 05:24
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try declaring your income for starters considering that it isn't legal to make "more money under the table" also pretty sure what your friend is suggesting they do for you is technically "fraud"
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Sep 22, 2017 08:14
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A couple with undeclared fluctuating income, poor credit, a fleet of vehicles and trailers (including a new motorcycle purchased to improve your credit score), "it's not the best money time ever but my income is going to triple soon", rabbits, severe allergies that prohibit roommates, and friends who will "help me with some paystubs"Bob Log posted:"Better Qualified Applicant" is what I've been told more often than not.
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Sep 22, 2017 11:15
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Enfys posted:A couple with undeclared fluctuating income, poor credit, a fleet of vehicles and trailers (including a new motorcycle purchased to improve your credit score), "it's not the best money time ever but my income is going to triple soon", rabbits, severe allergies that prohibit roommates, and friends who will "help me with some paystubs" Whatever could the problem be? Someone needs to activate the buried lede alarm.
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Sep 22, 2017 15:22
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Set up your own LLC and pay yourself through that so there's a single paystub?
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Sep 22, 2017 16:31
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Do the current bwm thread rules allow us to cross post this?
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Sep 22, 2017 20:05
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Two pages ago I read your first post and knew that as we unraveled this mystery all would become clear. Do you really seriously have questions about why you haven't been approved?
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Sep 22, 2017 21:21
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EAT FASTER!!!!!! posted:Do you really seriously have questions about why you haven't been approved? I came here looking for info like this; Jeffrey of YOSPOS posted:Set up your own LLC and pay yourself through that so there's a single paystub? Because I figured that's where I was heading and was along the lines of what my friend is helping me plan to do. Not Fraud, you guys are hillarious. I asked what I could do to make my situation look better. I didn't say it was great, sorry I don't do conventional work. Could've just answered that you can't polish a turd, but I figured someone might have some new angle to work. 
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Sep 22, 2017 22:36
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You are not getting disqualified because of your job. You are getting disqualified because of the dozen vehicle, rabbits, gooniness.
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Sep 22, 2017 22:54
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Bob Log posted:I came here looking for info like this; Do know that I gave that advice only knowing that it's a thing one can do and not because I know anything about the details/tradeoffs. I know others who have successfully negotiated with their employers for the same purpose though so it's certainly not unprecedented.
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Sep 22, 2017 22:55
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Bob Log posted:"Better Qualified Applicant" is what I've been told more often than not. Honestly, that's the actual reason, too. Here's what I see for you right now: 1) You are attempting to move into an area that really is a landlord's market and will be for the foreseeable future. 2) You're trying to get an apartment for a rent that is cheap by the standards of pretty much any populated region in CA not called Fresno. 3) You're bringing the equivalent of six vehicles and two rabbits. Rabbits are looked down on by landlords even more than having loud dogs. Most places, you're lucky to get 2 parking spots, let alone enough for your fleet. 4) 650ish credit score is a bad score when paired with everything else here. 5) Your income is too low for the rent you're targeting. You're well short of the 3X gross standard markets out here tend to use, and on top of that, it's variable. On this one, it's a combination of two factors that will almost certainly be scaring landlords off. If you were a little short of 3X, you might have a shot. If you had lots of $$$ but it was variable / multi-stubbed, you'd have a shot. You are both multi-stubbed AND short. Add it all together, and you're effectively a low-income, variably-employed couple with nuisance animals and WAY too many vehicles. If this is the scenario you've been working with for the last year or so, I can absolutely see every single landlord rejecting you. My general suggestions are below. I'm not going to tell you to get rid of the rabbits because getting rid of pets really sucks (and I'd tell someone to gently caress off if they told me to get rid of my cats, so yeah). No easy answer here, so I'm not touching it. First: I'd go with looking into what Jeffrey said re: consolidating your paystubs somehow. That's your best shot at fixing #5. Second: ROOMMATES. I know you don't want it, but you're not making enough money to afford a $1,600 apartment in the eyes of your landlords, and more importantly even, there are plenty of people out here who make more than enough to be more viable tenants given the rest of your issues. Third: You're going to have to drop vehicles or find external parking. You're not doing yourself any favors here. The sum of the parts in your case is a net negative to the landlord. You're both risky and relatively demanding, and landlords have enough potential tenants right now that they don't need to negotiate with you. Sorry. 
Sundae fucked around with this message at 23:42 on Sep 22, 2017 |
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Sep 22, 2017 23:37
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Has corporate finance changed in the last decade? Like formulas, corporate capital structure, etc. I'm sure it hasn't but I want to make sure. I ask because I'm doing a research project on a local business. I can use a ten year old corporate finance text book for reference that I can keep for free, or I can pay money for the newest edition or borrow one that I have to give back. Thanks!
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Sep 25, 2017 15:25
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NUKES CURE NORKS posted:Has corporate finance changed in the last decade? Like formulas, corporate capital structure, etc. I'm sure it hasn't but I want to make sure. US and international generally accepted accounting processes have shifted somewhat in the last decade, but that's more corporate financial accounting than true finance.
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Sep 25, 2017 18:54
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With Google Finance getting rid of Portfolios as of November, what's a good online portfolio and transaction tracker tool? I really like the Google interface, the ability to enter specific transactions, etc.
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Oct 3, 2017 20:50
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Someone please help me get my head around this particular question. I have a variety of debts, the highest interest of which are a mortgage on a second rented property at 5.0% and student loans at 3.7%. The obvious knee-jerk answer is to pay off the highest interest rate debt first, however because the interest on the rental property is basically a deductible business expense, taxable personal income on my schedule E, which is taxed at a rapacious rate of give or take 45%. so in my mind return of paying off this mortgage with post-tax earnings and then being taxed again on the rental income generated by reducing the interest on the loanis really more like 2.6%. at that assumed rate, this would prioritize the debt below my primary residence mortgage and auto loans. Is there some really obvious way that I'm thinking about this wrong, or is my reasoning basically correct and I should throw money at my student loans first ? Sidenote, I have a more than ample emergency fund and all tax advantaged everything possible for me is maxed out.
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Oct 9, 2017 00:45
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BEHOLD: MY CAPE posted:Someone please help me get my head around this particular question. I have a variety of debts, the highest interest of which are a mortgage on a second rented property at 5.0% and student loans at 3.7%. The obvious knee-jerk answer is to pay off the highest interest rate debt first, however because the interest on the rental property is basically a deductible business expense, taxable personal income on my schedule E, which is taxed at a rapacious rate of give or take 45%. so in my mind return of paying off this mortgage with post-tax earnings and then being taxed again on the rental income generated by reducing the interest on the loanis really more like 2.6%. at that assumed rate, this would prioritize the debt below my primary residence mortgage and auto loans. Is there some really obvious way that I'm thinking about this wrong, or is my reasoning basically correct and I should throw money at my student loans first ? Sidenote, I have a more than ample emergency fund and all tax advantaged everything possible for me is maxed out. It sounds to me like you're thinking about this correctly and you should go with the student loans.
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Oct 9, 2017 04:00
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Plus considering the non-dischargeable nature of student loans in most bankruptcies, it makes a lot of sense to prioritize them.
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Oct 9, 2017 05:31
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BEHOLD: MY CAPE posted:Someone please help me get my head around this particular question. I have a variety of debts, the highest interest of which are a mortgage on a second rented property at 5.0% and student loans at 3.7%. The obvious knee-jerk answer is to pay off the highest interest rate debt first, however because the interest on the rental property is basically a deductible business expense, taxable personal income on my schedule E, which is taxed at a rapacious rate of give or take 45%. so in my mind return of paying off this mortgage with post-tax earnings and then being taxed again on the rental income generated by reducing the interest on the loanis really more like 2.6%. at that assumed rate, this would prioritize the debt below my primary residence mortgage and auto loans. Is there some really obvious way that I'm thinking about this wrong, or is my reasoning basically correct and I should throw money at my student loans first ? Sidenote, I have a more than ample emergency fund and all tax advantaged everything possible for me is maxed out. Curious how you're managing the rental property and how you got into that game in the first place?
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Oct 9, 2017 16:44
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How long are you guys staying at jobs? I'm averaging 2 years per job, mainly because I just haven't found the right fit yet. I'm putting 10% in my 401k, but I rarely get the match vested, or best case I only get 20% of the match vested. Knowing that you will lose your employer match, would that change what you contribute to your 401k?
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Oct 9, 2017 21:03
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Post-military, first job was 21 months, current one is 30 months. I switched GS positions after about 3 years twice as well, so I'd say 3 years is probably about the time frame. I'm sticking around here for a while longer due to personal life and also it's 36 months for 100% vesting.
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Oct 10, 2017 14:59
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The place I work at was recently acquired, and I now work at the new parent company. The average tenure there is 17 years  Definitely a double-edged sword. People can get too comfortable. Then again, their company has doubled about 10 times in the past 25 years so they're doing something right.
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Oct 10, 2017 15:13
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Fozzy The Bear posted:How long are you guys staying at jobs? I'm averaging 2 years per job, mainly because I just haven't found the right fit yet. It wouldn't affect my deposits because I max my IRA and 401k annually. If you go past your IRA limit its generally the next best thing. The vesting is a way to try and retain you by deferring some of your compensation. Jumping ship tends to have a better impact on your compensation but make sure you are running the numbers on it.
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Oct 10, 2017 15:18
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Holy loving poo poo am I glad 1) we keep a meticulous budget and 2) that we have a sizable emergency fund because our child care just accidentally charged us a $1300 overage. Fortunately the owner was unbelievably apologetic and it doesn't really cause us any problems to just use it as a statement credit toward future services but wow. Thanks, BFC, you save the day again.
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Oct 10, 2017 18:52
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EAT FASTER!!!!!! posted:Holy loving poo poo am I glad 1) we keep a meticulous budget and 2) that we have a sizable emergency fund because our child care just accidentally charged us a $1300 overage. Fortunately the owner was unbelievably apologetic and it doesn't really cause us any problems to just use it as a statement credit toward future services but wow.
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Oct 10, 2017 21:36
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Ralith posted:Why are you giving them a $1300 interest-free loan? Because that's probably about a month of care, and you'd make at most a few dollars of interest in that time?
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Oct 10, 2017 21:47
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Ralith posted:Why are you giving them a $1300 interest-free loan? I actually thought about this, which it wouldn't have struck me to before my time here, but I feel comfortable with it because it's a couple of months of tuition and it wouldn't be interest-generating for me at this time, nor are any of the places I'd put that money interest-collecting. (i.e. it won't put me off the timeline from paying any major debts, nor can I earn any more of our emergency fund interest with that money). I won't invest it because it's money already allocated for an expense, and our balances are above the most we can earn our interest on for the emergency fund. Thus I'm happy being a 0% lender for the good will it has earned from the understandably-very-apologetic business owner.
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Oct 10, 2017 22:43
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Ralith posted:Why are you giving them a $1300 interest-free loan?
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Oct 11, 2017 00:39
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Fozzy The Bear posted:How long are you guys staying at jobs? I'm averaging 2 years per job, mainly because I just haven't found the right fit yet. I've been at my company 8 years but have had 5 titles/levels of responsibility in that time.
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Oct 12, 2017 03:22
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Fozzy The Bear posted:How long are you guys staying at jobs? I'm averaging 2 years per job, mainly because I just haven't found the right fit yet. I did 6 years at one, with several jobs in the same organization. Another 3 years of seasonal work at another, with a kind of promotion after the first year. A year at another job. Now I'm in month 8 of the newest job and I anticipate another big change in 8-9 months, probably back to part time work because my health has been kind of hosed up from the absurd stress. Though I'll probably end up trying the same job in a new location since at least I've gotten my work hours down from 90-100 hours/wk to like, 70-80 and I could see that getting a bit more reasonable in a different organization. I have absolutely no dream of finding "the right fit". I have a weird set of skills, almost unlimited willingness to relocate for work, and I like the process of learning new positions and industries and stuff.
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Oct 12, 2017 03:29
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Fozzy The Bear posted:How long are you guys staying at jobs? I'm averaging 2 years per job, mainly because I just haven't found the right fit yet. 12 years at this one. I’ve had probably 10 different positions though, starting from unloading containers of parts and driving delivery trucks to upper management at fairly large company.
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Oct 12, 2017 04:43
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