All Forum Posts by: Howard Koore
Howard Koore has started 1 posts and replied 11 times.
Post: What is the one thing you hate doing within your REI business?
- Posts 11
- Votes 1
Quote from @Henry Clark:
Taking calls from people wanting to buy our properties when you know they don't know a thing about them.
Due diligence to me is the fun part. Where you make your money. Pitting yourself against the situation. “The Hunt”. Could do this all day long.
I love your attitude...................
Post: How am I (buyer) protected when purchasing land through seller financing?
- Posts 11
- Votes 1
So, what ever happened?
Post: How am I (buyer) protected when purchasing land through seller financing?
- Posts 11
- Votes 1
Quote from @Account Closed:
Quote from @Howard Koore:
Are you folks talking about a Ground Lease which gives you long term use and control of the land,etc. but it’s never yours unless you contract to buy it.
Quote from @Doug Smith:
Other than a roofer that will wait for a real estate closing. I've not heard of that. We do have programs where we finance renovations. Perhaps you could be more specific with what you seek.
Post: How am I (buyer) protected when purchasing land through seller financing?
- Posts 11
- Votes 1
Are you folks talking about a Ground Lease which gives you long term use and control of the land,etc. but it’s never yours unless you contract to buy it.
Post: What is the one thing you hate doing within your REI business?
- Posts 11
- Votes 1
Perhaps different states have different requirements for the eviction process.
Quote from @Chris Seveney:
@Howard Koore
Some lenders will do it and lend based on proceeds from sale. Contractors typically will not
Oh, much thanks
Post: What is the one thing you hate doing within your REI business?
- Posts 11
- Votes 1
Your answer is spot on. Every one should be asked the same questions. And memorialize everything via email. Keep good records so you can retrieve them if needed. Good luck.
Post: What is the one thing you hate doing within your REI business?
- Posts 11
- Votes 1
Quote from @Michael Calvey:
Quote from @James De Stefano:
I'm early on along the journey, but so far it's been the "walking on eggshells" while screening / accepting / declining prospective tenants.
Maybe it's because it's beaten into our heads as RE agents, but I'm particularly careful when emailing, texting or calling applicants. There's just 100 ways people can scream discrimination, when 90% of the time it's simply " You don't meet the income to rent"
There's crazier things for sure, but this has been consistent! ha
Screening tenants can be tricky—like tiptoeing through a minefield because you need to be careful about laws and the risk of discrimination claims. It's great that you're already being careful. Here are some simpler tips to make your process smoother and less stressful:
- Make a Rule Book: Make sure you screen everyone the same way. Think of it like following a recipe—same steps, same ingredients, every time. This keeps things fair and covers your back if someone says you were unfair. Writing down what you do and why can also help you remember later.
- Be Clear When You Say No: If you have to turn someone down, tell them exactly why. Like if their income isn't enough, explain how you figure out if someone can afford the rent. This helps them see it’s nothing personal, just math.
- Keep Learning: Laws about renting to people can change. Staying sharp with courses or classes not only helps you stay out of trouble but also shows you’re serious about being fair.
- Ask the Experts: When you're not sure what to do, talking to a lawyer who knows about real estate can really help calm your nerves and make sure you're doing everything right.
- Use Smart Tools: Think about using a service that checks tenants for you. It's like having a helper that makes sure you’re thorough and following the law, which can make your job a lot easier.
It's cool to see someone who really cares about doing things right. How do you usually handle screening tenants, and have you found any helpful tools or tricks?