All Forum Posts by: David Kenny

this is interesting. Not trying to hijack your thread, but you are looking at a particular unit within a larger commercial building? I've never seen this (in my limited time learning about real estate). Typically commercial owners own the entire buidling no? 

welcome!  I'm new as well. I live/work in atlanta but invest in hall county. I second listening to the podcasts, I would start at the first one and listen till you catch up! Let me know if I can help at all. 

wow, I can't believe the amount of help I'm getting here. Without a doubt this is the best real estate forum on the internet! I have a lot to consider and again, I really appreciate your input! Hopefully I don't make a terrible choice on my first unit...

 Very good advice,  can you elaborate a little more on the fcra comment? 

All great information, thanks again! 

@stephen I think you may be right, but it's not because I'm too eager  (had 5 other calls in 24 hours) I think I'm having trouble telling a nice person no, as lame as that sounds. 

thank you guys! I'm still wrestling with this because I get a good vibe from her and get the sense she is a long term renter (in part because of the credit score). I'm going to call her current landlord tomorrow as well as he place of employment to gain some more comfort. 

If anyone else has any opinions please share!

Hi Everyone,

I have a potential tenant who has a 529 credit score, and 6 accounts in collections ($4k total). They earn 3x+ in income, no felonies, no evictions.

The credit score would normally mean I would deny the application, however the cause is due in large due to a divorce, in which they were still on the mortgage. They have a divorce decree, and notarized paper work saying they were not responsible for the payment since 2010. 

They have paid all their student loans off in time, and have paid their car payment on time since May of this year.

What should I do? Has anyone run  into something similar (a divorce affecting their credit)? Does the explanation seem logical? Would 6 accounts in collection scare you away? 

I thought screening would be much more cut and dry, but it gets to be more of an ethical dilemma than I anticipated (people need shelter).

Any help would be appreciated!!

 just curious, why not build a small strip mall? Unless for some reason that wouldn't be the highest and best use for the area. If you could build 5000 Sq feet and if rents are 12 a ft (not sure just using my local numbers) that would be about a 600k valuation at a 5 cap. I know it would take longer to get some tenants in but something I would love to be able to do.  Even if it took 300k investemnt, you would have solid cash flow until you sold it. 

Hi Eugene! Welcome! What part of ga are you looking to invest?

Sorry, I meant I had trouble finding insurance for my rental until I spoke with American family insurance.