Trying to get an apartment that i dont meet the income requirements for. Will this plan work?

BlackxHat

BlackxHat

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So i have a full time job and i also do side jobs for extra money but i still dont make enough money for this place i want. So i thought of something to get my friend to help me that im hoping will work.

My friend is on disability and gets 700$/month from SSI. So i would get him to write me a check of $700 every month so that it looks like I work for him in some way. I then would deposit the check into my bank account then i would withdraw it and give the money back to him. i would do that every month so that it looks like i have a long term job with him.

will this work?

btw im doing this because i desperately need to move away from my family
 
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If you live in the U.S I don't think it will work.. You need a employer to verify your income and I'm sure they check up on it.. But I could be wrong.
 
WORK@HOME said:
If you live in the U.S I don't think it will work.. You need a employer to verify your income and I'm sure they check up on it.. But I could be wrong.
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I figured this would fall under 1099/contracting jobs. so if the landlord needs to verify i could just him my friend's phone and he would say that i work for him doing something (like babysitting his kid or something like that)
 
personally I would try to avoid this. Will come back to bite either you or him on the arse at some stage....
 
How does this help you actually afford the apartment you can't afford? It might make you look like you make $700 extra per month but if you pay back the $700 to your friend you aren't further ahead.

Find a cheaper place.
 
AceWallGromit said:
How does this help you actually afford the apartment you can't afford? It might make you look like you make $700 extra per month but if you pay back the $700 to your friend you aren't further ahead.

Find a cheaper place.
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I could just give him the debit card to the bank account and he would use it like it were his own account. that way it looks like im using the money
 
You want to have a better credit, don't you? So you can loan from banks.
If he is your very close friend then go for it!
 
lol what.. how would you even afford it if you cant in the first place?
 
Typically, the apartment complex manager would require your tax returns if you say you're 1099 contractor or self employed. At least that's how they are here in California. What about finding a room in a place for a while? Those are usually way easier to qualify for and sometimes the tenants do the fact checking which can be as simple as a conversation and if you seem chill, you're in.
 
Wouldn't that look like income that you aren't paying tax on? Sounds risky to me...
 
I'm lost; if you can't afford the place, how are you gonna make your monthly bills on the place?
I've been in your position of wanting to move away from family; I'd suggest renting a room first somewhere which is within your budget, you really don't want to be committing to monthly expenditure if you don't have the income to support it. A friend who works in properties has a good rule of thumb; Whatever your income is x30% = that's what you should pay for accommodation, if you're paying more than that, you're in trouble.
 
Sign a joint lease. I recently did that when I moved a couple of months ago. A normal agency will combine your two incomes and you should meet the requirements just fine.
 
It should work (do it under: self employed), BUT, be aware if the tax man gets wind of the extra $$$ then be prepared to explain yourself.

Good luck, and hope you get your new pad.
 
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