What the hell do I tell a leasing agent?

[SammyKid11]

So, I'm moving to Nashville in a few months to further my efforts in the music industry (Dallas is not exactly a huge hotspot for music, generally). It occurs to me that I'll have to lease an apartment or possibly buy a house. My girlfriend will be going with me -- she's gainfully employed (though makes crap for money), I play poker for a living.

Does anyone have experience with this? Whether leasing an apartment or buying a house, whoever I'm dealing with will most definitely want to know what I do -- apartments I've leased in the past (before I was a professional gambler) always asked for pay records, etc. Can I just tell these people I'm a pro poker player? Will they laugh at me and tell me to get out of their office?

Help, Zoo!

[Eidal]

When I asked my father about this, he said that offering large sacks of cash money as deposits or rent paid months in advance is a good bargaining method.

[craig r]

[ QUOTE ]
So, I'm moving to Nashville in a few months to further my efforts in the music industry (Dallas is not exactly a huge hotspot for music, generally). It occurs to me that I'll have to lease an apartment or possibly buy a house. My girlfriend will be going with me -- she's gainfully employed (though makes crap for money), I play poker for a living.

Does anyone have experience with this? Whether leasing an apartment or buying a house, whoever I'm dealing with will most definitely want to know what I do -- apartments I've leased in the past (before I was a professional gambler) always asked for pay records, etc. Can I just tell these people I'm a pro poker player? Will they laugh at me and tell me to get out of their office?

Help, Zoo!

[/ QUOTE ]

When I moved I told them I was self employed/1099. They said that if I had 6 months of rent in my checking account that they could verify that would be enough. I also had to put down a security deposit. If that worked for me, it should work for you, because I don't have great credit either, but good rental history.

craig

[SammyKid11]

Thanks, I can do that.

i am in your boat. I was planning to pay 1st and last months rent plus deposit, maybe more.

I am still interested in buying a house. that is one I need to get a book on though. not sure how that works. let me know if you go that route.

[MyTurn2Raise]

yep...I've gone through this....self-employed in financial risk/money management business. No more questions ever.

I do have follow-ups if more questions come.

[SammyKid11]

[ QUOTE ]
yep...I've gone through this....self-employed in financial risk/money management business. No more questions ever.

I do have follow-ups if more questions come.

[/ QUOTE ]

Such as? I'm interested to know, cause I can just imagine telling someone I'm self-employed in the financial risk/money management business and them looking at me like I'm crazy and assuming I'm either a day-trader or part of organized crime.

[Harv72b]

When I took a year off from working (before I discovered poker--I truly had no source of income), all it took was 3 months' rent in advance, plus the normal security deposit. Of course, I also had a roommate at the time who was employed.

My own (limited) experience is that it's just a question of how much they'll want up front. If you can afford to pay advance rent, they'll rent to you regardless of your employment situation.

[RobertHunter]

A far as leasing I wouldm't be able to give any guidance, but if you are looking to purchase a home you can get what is called a No-Doc or No Income Verification (NOI) loan.With these types of loans the lender will not use your income to qualify you for the loan, they will look at your assets and also your past credit history to approve you.With these types of loans you typically will need to have very good credit history and some verifiable assets.When you get to Nashville go to Ronnie Milsap's recording studio and ask for Brodie.He is a friend of mine and he is a sound technician there.Tell him Skip from Ocala sent you by ,he might be able to point you in the right direction to get something going there, good luck.

[ QUOTE ]
[ QUOTE ]
yep...I've gone through this....self-employed in financial risk/money management business. No more questions ever.

I do have follow-ups if more questions come.

[/ QUOTE ]

Such as? I'm interested to know, cause I can just imagine telling someone I'm self-employed in the financial risk/money management business and them looking at me like I'm crazy and assuming I'm either a day-trader or part of organized crime.

[/ QUOTE ]

Independent Computer Consultant specializing in online asset management.

Its all how you spin it.

I live in Nashville.

Nashville apartment complexes might be a pain in the ass to deal with, most want credit and job references.

However, the area around Belmont and Vanderbilt is full of houses and apartments being rented by individuals who aren't always as picky. You can always tell them you're a student at Belmont (where all the music industry people go).

[PSW]

Whatever you do, don't lie to them about anything. I am a landlord or several units and if I catch even the wiff of a possible lie, they never see the keys.

Some advice.

1. Don't offer a big deposit or extra rent months, you will look like a meth lab operator.

2. Tell them what you do. Print out your Neteller statements and bank account statements.

3. Show them your quarterly taxes, if you are up on them, otherwise, your regular taxes will do.

4. Be honest! If they are a good landlord, they will verify everything. Having a good landlord means things get fixed and the unit is worth staying in.

psw

ps. Regarding no-doc loans... the poster is correct. Just be prepared to pay a higher interest rate. And I mean more than 1% more usually.