All Forum Posts by: Carlos Flores

Couple of guesses:

- trolling biggerpockets isn't a priority in their life.

- no car to drive to the library to log on to BP.

You may be speaking to the wrong people or the wrong banks. It's hard for me to give you advice without knowing what the goal is, who you are approaching, and what you are telling them. I can tell you that business/commercial bankers understand leveraging assets.

Hey Chuck - Welcome to BP from your neighbor in Coppell. What areas / price points do you target?

Yes, generally best used to establish credit.

On the other hand, if you have good credit, you can try to leverage it. Just pulling numbers out of the air here. Pledge $10k against of loan of $30k.

Don't want to hijack this thread. Just had to comment on the whole racing thing. It doesn't make sense, but it's a beautiful thing. Same can be said for a motorcycle, regular bike, etc. Keep your eyes where you want to go (come out), and you will end up there. Almost sounds like a metaphor for life.

I recommend you try to get contracts from local wholesalers. Create your own from those. Then have yours blessed by an attorney. Will be much less expensive that way.

I ask for bank account numbers, among other things. I also make a copy of their first check and randomly compare the account numbers every few months. Might be overkill, but I want to know where their money is if I ever have to go after it. The app they signed also gives me permission to check their balance anytime I want. Again, not that I ever do that.

You need to get over feeling uneasy if want to be a landlord. Run it like a business and leave the emotion out of the equation. Not saying be heartless, but you and your business come first. You can determine how generous you want to be after expectations have been set and you've got things working like they need to.

Very nice.

Josh - sounds good.

Chris - We have similar Realtor contracts in Texas. Those contracts tend to fall short when it comes to protecting the landlord. An example can be found in my blog where I discuss one such issue in the standard Texas Guarantor form. I've only been on this board since August. In that short time, I have seen several situations where people say their lease was missing a critical clause or it could have been worded better. What I am really looking for is the rewrites and mods...the improvements to the standard forms.

Bryan - Thanks, Bryan. I'll send you an email or you can just post on filepalce as Josh suggested.

I offered to combine/categorize the sections within the lease contracts to make it easier compare, but if you prefer everyone just upload to fileplace that's less work for me.