All Forum Posts by: Jory Harvey

To update , I asked for her last years taxes , and she showed a letter stating she had opened a bank account with over 100K in it . Her taxes showed she didn't make what she claimed when she was employed . And it got worse -- suddenly she was going to move in an unemployed daughter , an unemployed son in law , three kids , two giant dogs and a cat, and more "poor me" stories . And yet I gave her every opportunity to prove her case . When it came down to a meager $25 application fee , she couldn't seem to manage it , and she seemed to be avoiding background checks on any of them . I didn't deny her in the end , she just stopped contacting me ( which had been a multiple times a day event ). I'm pretty sure she intended at the very least to move her daughter and family in and then just never have any money .

I ended up renting to a nice young couple with two kids , they did everything I asked and were very prompt . I think I'll be a little less flexible due to sob stories next time . 

Thanks for the replies .

@Tami R. We just got back from Lowe’s and Home Depot again and were discussing trying this , we will follow your post with great interest .

So I have one applicant who has moved here to Oklahoma from California due to divorce - she reports on her application that she owned her house , and worked in the business she and her husband owned for 24 years . She stopped working there in September when she moved and reports she still owns half the business and the divorce is still ongoing . I sympathize after having been through that myself several years ago but I need some sort of proof of income . She said her accountant could furnish me something but I don’t really know what to ask for . Apparently her sole income is owning half the business . She did offer to show a bank deposit. I would love some advice . And no , I haven’t run her credit yet - just got the application and there really is no one to contact since no previous employer or landlord . I hate to have her pay for a background check if I’m just going to deny her for lack of income . Thanks in advance for any advice !

Bill, I don’t think you’re crazy , but there are some questions . Is the land zoned for a mobile , does it have utilities and driveway etc .? I think if you’ve covered all your bases and it still cash flows well , you can’t count it out . I’m sure you’ll take into consideration that a mobile will most likely depreciate so your exit may only be to rent .

Just bumping this so more of our local group will see it .

If it will truly cash flow like you think , it should be a decent deal , just make sure to account for all your expenses etc and I like to overestimate those . Assuming Trulia has the right comps , I personally wouldn’t pay what amounts to market price . By the time you add the repair costs , price , closing costs, and those little extras that always creep in , you will basically have purchased it at market value , that can be okay , but I’d prefer to have more equity in it after repairs . Could still work though . The OOS investing is something that would worry me ( I haven’t done any ) and I’d be sure to check out the management company as thoroughly as you can . Hope you do well with it !

Deep clean the carpet , have air ducts cleaned , paint , and many say an ozone generator though I have not tried one yet . Personally , I think some houses never get rid of it .

Deren , Could you ask both parties to agree to proceeds being placed in an escrow account and then they could settle as they agree to later ? That should actually make it easier on them .

We will plan on being there . 

In the end , you basically agreed to lower your price by $5000 , and regardless of what happens on his end that’s still happening . It may feel like you were taken , but the price is the the same regardless of how it is worded and arranged . My attitude weather buying or selling always is : I don’t care what you did or paid or are going to have to do or pay for something , all I care about is what I’m paying or getting paid . There are just too many stories people have to worry about their side of things .