No Diving! Very shallow water...

[thefed]

In the rental pool! Jeez, where do these people get off?

"yes, I've been evicted like 6 or 7 times, but it actually hasnt ever been my fault, except when i paid the rent on the 3rd, not the 1st, and the landlord evicted us anyway"

"no, i dont have any income right now, but my mom helps me. im a single mom and looking to become more independent"

"sorry, my currentlandlord has no phone # for you to verify residency." 5 minutes later "well ive called him every day for the last week since our h20 tank broke but he wont return my calls"


and this is 3 days into the search! lol

ive got 2 good-sounding applicantws coming today...both found the ad online, instead of the local paper. seems the very local paper attracts jobless,homeless, creditless bums.

BUT the internet ads is a pre-qualifier. You can assume they are able to read (ie can get a job), and they have the $$ for a pc and internet (might already have a job!). If they are on a friends or the library's pc, at least they are able to use the resources available to them to complete a task (again, maybe a candidate for a job.....or maybe when they are late on the rent they can use these skills to find me some $$$$$)

[brewer12345]

Quote:

Originally Posted by thefed BUT the internet ads is a pre-qualifier. You can assume they are able to read (ie can get a job), and they have the $$ for a pc and internet (might already have a job!). If they are on a friends or the library's pc, at least they are able to use the resources available to them to complete a task (again, maybe a candidate for a job.....or maybe when they are late on the rent they can use these skills to find me some $$$$$)

Or maybe they are Nigerian hucksters.

Do you use a tenant screening service? If not, how do you DIY?

[calmloki]

Quote:

Originally Posted by thefed In the rental pool! Jeez, where do these people get off? "yes, I've been evicted like 6 or 7 times, but it actually hasnt ever been my fault, except when i paid the rent on the 3rd, not the 1st, and the landlord evicted us anyway" "no, i dont have any income right now, but my mom helps me. im a single mom and looking to become more independent" "sorry, my currentlandlord has no phone # for you to verify residency." 5 minutes later "well ive called him every day for the last week since our h20 tank broke but he wont return my calls" and this is 3 days into the search! lol ive got 2 good-sounding applicantws coming today...both found the ad online, instead of the local paper. seems the very local paper attracts jobless,homeless, creditless bums. BUT the internet ads is a pre-qualifier. You can assume they are able to read (ie can get a job), and they have the $$ for a pc and internet (might already have a job!). If they are on a friends or the library's pc, at least they are able to use the resources available to them to complete a task (again, maybe a candidate for a job.....or maybe when they are late on the rent they can use these skills to find me some $$$$$)

Dang Fed - you gotta eat a red man. If you are this cranked up by tenants this early in your landlording adventure you are going to stroke out or shoot somebody. Give a little respect - they are still people.

[tryan]

My favorite ... after I point out they don't meet my minimum income requirement (3x rent): "Don't worry, it'll be there".

Try Skoal ... red man makes you spit too much.

[justin]

My favorite landlord story:

Guy calls from out of state /w no verifiable income and 2 dogs. The income I can work with - the dogs are a dealbreaker.

"But, they're really clean dogs"
"No dogs."
"They are really small"
"No dogs."
"They are blah blah blah breed show dogs"
"No dogs."
"They've won blue ribbons at Westminster year after year"
"No dogs."
"They are potty-trained and I board them even if I'm only away for one night"
"No dogs."
"They won't present a problem at all. They never bark and neighbors love them. They are so cute!"
"No dogs."


Of course this deadbeat also couldn't show me he has earned a dime in the past 2 years, plus he refused to pay a security deposit because "no one else in your market area charges a security deposit". Not true at all. What can I say, some people are plum crazy. Pass me that Skoal, will you?

[thefed]

I'm not worked up at all, just amazed!

Today I got: 1) stood up- no show

2) Fresh out of federal pen, supposedly ran illegal instant bingo parlors grossing 2-mil per yr, had 37 others indicted with him...6 kids, and a wife, all for my 988 sf 3 bedroom apartment!!

3)regular guy whos had a job for 20 yrs!i verified it. he showed me papers that his landlord lost the house to wells fargo foreclosure...needs a place by nov 15. 2 teen kids, and attack rottweiler. says he'll put him to sleep if i wont let it come....dont know if i believe him

4) regular guy-found ad online...works for homeland security, ex military, no kids, no other tenants, wants to set up virtual office in one room for homeland job..can work from home...jpresent shimself well, clean appearance/car etc



I'm having a hard time deciding between the 2. they literally came at the same time, looked @ the same time, and applied within minutes of one another. bs'd with each of them for a good while.....but dont know what my gut is telling me




Brewer: to this point, ive not used an outside service. i used to collect, and skiptrace, and underwrite, so i have a pretty good knack for things like discerning the truth from fiction, digging into applications, talking to their references, verifying employment etc etc. ive also established contacts that help me out with background checks.

The homes I own dont attract 700 credit scores. So why bother with credit? I let them all know that we may very well check background and credit....and to let us know up front what we will find negative, or else it may automatically disqualify them. 90% of them spill the beans. I dont care about bad credit. I care about 1)rental history 2)job security/tenure 3)info obtained from references 4)honesty on every aspect of the app. if i find a lie, they lose


I underwrote secondary finance auto loans for some time....and using these general principals, i put our portfolio on its fastest track since its inceptio, while maitnaining the lowest delinquency in company history

I also check out their car...good indicator of how they tend to their homes. punctuality to our appointment is important,etc etc

[calmloki]

#2: One of the nicest cleanest tenants we had was a murderer out of the Cali penal system. His son however....

#3: "My Rott Slasher is going up against Killer in my dog fighting ring and is an odds-on loser. I'll be getting a new crop of fighters as soon as we've got the place".

#4: I'll be getting a T5 connection for my "home office", read pay "porno website".

#1: That was your perfect tenant - another landlord got him first!

[thefed]

Quote:

Originally Posted by calmloki #2: One of the nicest cleanest tenants we had was a murderer out of the Cali penal system. His son however.... #3: "My Rott Slasher is going up against Killer in my dog fighting ring and is an odds-on loser. I'll be getting a new crop of fighters as soon as we've got the place". #4: I'll be getting a T5 connection for my "home office", read pay "porno website". #1: That was your perfect tenant - another landlord got him first!

lol..esp at #1

[Gumby]

When we first bought our house, it had an in-law apartment that we rented out. We advertised in the paper and we met each of the potential tenants personally. One of our instant "no's" was cigarette smokers. The other was pets. Other than that, if they had a job and seemed reasonable, we took them. Never checked credit. Over the course of 8 years, we never had a problem.

One of my favorites was young J*****, who was 20 years old and this was her very first time living away from home. Her mother had to teach her to write a check for the security deposit (while we watched). Dumb as a post but cute as a button. We watched with amusement as she had boyfriend tryouts. A pack of handsome young lads with cars much nicer than mine trooped down the driveway on a regular basis to pick her up. She eventually selected one and moved away with him.

[calmloki]

Saw N***** in Costco a few days ago with her grandaughter. Many moons ago she was a single mom on section 8 with 2 little boys. She was, however, going to nursing school. Rented to her, after some years she married, he did a lot of work on our places, they kept living there, had a daughter, had up and down times in their lives, kept living there... R** was fond of telling me they bought the place for us several times. He was right. They finally moved. N***** was telling me how much it meant that someone was willing to put some faith in her at that early rough time in her life. Told her that she was a tenant i held up as an example. Her accomplishments, nursing degree and good stable family have been something i looked to when looking at new tenants. Some of the smartest and most interesting tenants have been multi pierced/tattooed/crazy haired Goths. Sometimes you just can't tell.

[thefed]

Quote:

Originally Posted by calmloki Saw N***** in Costco a few days ago with her grandaughter. Many moons ago she was a single mom on section 8 with 2 little boys. She was, however, going to nursing school. Rented to her, after some years she married, he did a lot of work on our places, they kept living there, had a daughter, had up and down times in their lives, kept living there... R** was fond of telling me they bought the place for us several times. He was right. They finally moved. N***** was telling me how much it meant that someone was willing to put some faith in her at that early rough time in her life. Told her that she was a tenant i held up as an example. Her accomplishments, nursing degree and good stable family have been something i looked to when looking at new tenants. Some of the smartest and most interesting tenants have been multi pierced/tattooed/crazy haired Goths. Sometimes you just can't tell.

i hear ya! thats why i try not to pre-judge....but when you have to trust them with so much, its hard

[clifp]

WOW REITs are so much easier. I am glad there are landlords though

[tryan]

Many moons ago a latino couple walked thru a first floor vacancy. Not a word was spoken; they were leaving the house (backs turned to me). I initiated some small talk. She translates for him (that explains his silence). Little more light conversation ... why thier moving ... where they work .... They end up filling out the ap; no brainer for me they move in.

Three years later. He's injured on the job; is laid up several weeks. Hard financial times ... I stayed with him. Lawyers hounding him to SUE the employer. He told me (in broken english now) "I won't sue. I don't see it as a way to get ahead." Couple months later he's 100% ... back to work; catching up on back bills. Telling me his dream is to own a home.

Finds a duplex he wants to buy. Fills out a subprime ap. Pays $1200 in fees and inspections only to get rejected before the closing. More fustration.

Around the same time I had picked up a SF for 8k at a HUD auction. Needed some TLC ... but was not a gut job. Asked him to come take a look. They liked it; but were weary of using the "banks" (still licking his wounds). Sooo I carried a first position for them for 40k. Payments would be the same as thier rent. He'ld do the work (TLC). Over the next 10 years that property tripled in value for him. He now rents it out and lives in a larger SF in a neighboring town.

Every Christmas I get a phone call from him thanking me for giving him a chance (yeah, his english has improved too).

[calmloki]

Quote:

Originally Posted by tryan Many moons ago a latino couple walked thru a first floor vacancy. Not a word was spoken; they were leaving the house (backs turned to me). I initiated some small talk. She translates for him (that explains his silence). Little more light conversation ... why thier moving ... where they work .... They end up filling out the ap; no brainer for me they move in. Three years later. He's injured on the job; is laid up several weeks. Hard financial times ... I stayed with him. Lawyers hounding him to SUE the employer. He told me (in broken english now) "I won't sue. I don't see it as a way to get ahead." Couple months later he's 100% ... back to work; catching up on back bills. Telling me his dream is to own a home. Finds a duplex he wants to buy. Fills out a subprime ap. Pays $1200 in fees and inspections only to get rejected before the closing. More fustration. Around the same time I had picked up a SF for 8k at a HUD auction. Needed some TLC ... but was not a gut job. Asked him to come take a look. They liked it; but were weary of using the "banks" (still licking his wounds). Sooo I carried a first position for them for 40k. Payments would be the same as thier rent. He'ld do the work (TLC). Over the next 10 years that property tripled in value for him. He now rents it out and lives in a larger SF in a neighboring town. Every Christmas I get a phone call from him thanking me for giving him a chance (yeah, his english has improved too).

"WOW REITs are so much easier. I am glad there are landlords though"

Even though there is lots frustration stories like yours are part of the job satisfaction. Probably like teachers who every now and again get a kid that it's a joy to teach. It's good to have benefits!

[justin]

Quote:

Originally Posted by calmloki Even though there is lots frustration stories like yours are part of the job satisfaction. Probably like teachers who every now and again get a kid that it's a joy to teach. It's good to have benefits!

I try not to mix business and pleasure.

[calmloki]

Quote:

Originally Posted by justin I try not to mix business and pleasure.

Wow.
OTOH: "Why do you think they call it work?"
OTO: "If you don't enjoy it, don't do it."

I'll be moving out of rentals because it's getting to have nothing but monetary rewards for me and is taking a toll on my good attitude toward people. But it's taken several decades to get to this point.