All Forum Posts by: Jordan Thibodeau

Great question:

1. Curb Appeal Or Potential Curb Appeal.

2. Square Footage.

3. An area with good growth prospects.

Hi Matthew,

 Originally I was against it, but then I realized the following:

A. I know the background check procedures the company requires. If HR is doing their job this person shouldn't be an axe murderer. This doesn't mean you shouldn't do your own, but at least you know this person passed one background check.

B. I know the person is employed and with their permission I can ask HR for employment verification and comp information.

C. Not only do you have eviction pressure, the tenant has the same pressure to do well by you because he not only doesn't want to get evicted, he doesn't want word to travel back to the company that he's a lousy tenant that disrespects his colleagues.

That being said, how closely do you work with this colleague? If you don't work in the same org, there should be no problem. 

If this colleague works directly with you, there is risk involved, but so long as you have a meeting of the minds (Terms of the lease agreement, rules and regulations, and an understanding of what happens in the tenant relationship should not be brought to work), you should be ok.

Cheers,

Jordan

@Minka Sha Hello sir. What ended up happening to this deal? 

Terrible. I'm glad the bailiffs made it out OK. He hasn't paid rent in 7 months? I can see why.

Leo it looks like your in Chicago. I would hit the pavement myself before asking others.

Good Question. I highly suggest you purchase a NOLO guide on Landlard law for NYC.

As far as CA, California Civil Code 1940.3.3 forbids this question. Aside from civil codes, it puts you at risk for a potential discrimination lawsuit for asking that question.

I rented a room to a foreign exchange student, I made copies of his Visa and government ID to verify who he says he is.

@Account Closed 

A partnership is a marriage. How well do you know this person? Is this the type of person who is willing to let you hang out to dry if things blow up? Is this person planning to get married or make life changing decisions that might require him or her to liquidate the investment for cash?

@Carey Cahill Thanks for sharing.

So I feel like I'm sitting on the fence and I need to jump in and get my feet wet. Part of me feels like I missed the boat and should have bought a year ago. So here's some details about where I'm at and what I want to do.

The part of you filled with regret, is just a random thought, if that thought is given enough credence can lead to poor RE investment decisions. A sign of a good RE criteria is having more offers rejected than accepted.

A 1%'er is not a bad thing so long as the property is in good shape and you're in a good area. Yes, it won't allow you to get that 1000 unit goal as fast as you wanted to, but you're laying a firm foundation to start your RE investing.

I'm not experienced in the ways of mailers, lets wait for someone else to chime in.

@Trevor Ewen Thanks sir.

@David Hutson  Great points.

@Taylor Comer 

 Hi Taylor,

Feel free to shoot me a message if you have any questions.

In the future, can we schedule these on weekends for the losers, such as myself, who have to drive from SJ?