All Forum Posts by: Jack B.

Personally I think I'm done buying in expensive markets for now. I have rentals from Renton to Tacoma and they only cash flow because I bought at the right time. Buying now is risky. The market could turn against you, and for little, if any cash flow, it's not worth the risk. 

I think this is the time to tap cash flow markets while you watch equity plays go up.

 You know, I've seen specials like that and thought about them long ago, but never applied to my own. Great reminder, genius idea. I'll give it a shot. Bonus points for it not costing me nearly as much money like reduced rent would.

I've noticed a lot of landlords are selling and thus there appear to be less rentals available, driving up prices. 

Great, thanks guys, going to go to 600 credit score. I do charge the pet fee as a fee (allowed cats in the past, now allowing dogs) as opposed to a pet deposit. 

I think you guys are right, my requirements are impossible for most renters. I've only raised them recently due to bad experiences with low credit renters and good experiences with high credit renters.

Even the bad low credit renters are not my preferred tenants, the previous low credit score tenants were not all so bad as to justify letting it sit empty. I'd rather have a tenant; even with their issues the units are still very profitable.

I've had interested but unqualified people (credit, criminal, weirdos, etc.). I've only relisted the property for a week, had a tenant the first showing, they then backed out. 

No qualified prospects since then, about a week ago. I've now lowered the credit score requirement to match the neighborhood (from 700 to 650), allowed small dogs to catch a wider audience, and am debating lowering the price as well. But how long to wait before lowering the price?

I will say at least my listings now are clear enough about qualifications (posted at the top and bottom of listing) that I no longer get the 100 unqualified inquiries who missed the info.

The people who do contact me are usually qualified now, though I get less responses as a result of making it crystal clear what the requirements are.

Bump, still undecided.

 Why not send the evidence? Just curious.

You know, one thing that NOT sending them evidence might do is help me discredit them if they try to file a claim for other things. If I send them no evidence, they might try to claim that they paid utilities, didn't leave anything behind, etc.  By doing so, I can easily discredit a half a dozen grievances which would make them look reaaaaalllly bad in court. Then again, the goal is to avoid court, but if sending evidence doesn't dissuade them, it could hurt my chances in court, because they would no longer try to file a claim based on the items they know they would lose on because I sent them evidence.

 I have evidence, but as I understand it I don't have to give it to THEM. Only a court if they file suit. Although in this case, and from what I just read on another blog, it seems like it would be a good idea to send to them in an effort to dissuade them from even trying to file a lawsuit. I would easily win it, but the time and hassle preparing for it, taking time off work, etc. 

Returning it with deductions that is. Tenant seems sue happy, a scammer based on my dealings with them. Would you include proof of unpaid bills, pictures of garbage left behind, etc.? I want to dissuade these fools from trying to file suit against me, they seem like the type in my interactions with them. 

Although I have a mountain of evidence such as bills, an email from the utility proving they never established service, pictures, nothing found during two pest inspections, etc. and would win a case in court, it's still stress and hassle, not to mention a lot of time lost. Hence why I figured I'd include some of the evidence to dissuade them.