All Forum Posts by: Linda S.

@Stephen Connors  "

This is a business. Treat it as such. Tell them to talk to the hand." lol thanks for the laugh :)

@Kurt K., I agree that's a nice offer, can't you write off gifts for up to $25 for tenants?  

Unless you are a bank, that wasn't a loan.   I wouldn't give anything back.   They sound like D style tenants, so I'd ask them if the rent is too much, offer to let them out of the lease so you can get better ones.

Get a personal loan, credit card, equity loan, etc.. or find companies that offer financings... there is money out there, you just have to apply!    It's scary to be maxed out, but it sounds like a great deal!   If it's a flip, I wouldn't worry too much about the interest because it will be so short term.   I personally wouldn't give up equity in my business for cash unless I exhausted ALL options.   If you have exhausted all options, I'd look into finding a partner who brings cash and skills to help out.   Good luck!

Unless you have done something wrong, or were negligent,  I wouldn't worry for a second about a lawsuit.    I'm with 99% of the people here, she's testing you and threatening with a big bad law suit if she doesn't get her way, just like a 5-year old does.. call her bluff, as long as you have the backup and have done everything legally correct,.. let her waste her money on attorneys.   

IMO, the worst thing you can do is act scared and intimidated at the threats, tell her that if she feels wronged, feel free to get a lawyer, she doesn't have the money if she's fighting to get a few grand back.

Just a suggestion, for 7424, I'd do 2 things to make it more appealing.

1) Paint outside fence to match hosue

2)  Get knobs for the kitchen and bathrooms, it's a forgotten step that makes a huge difference.   People grab, and I'm saying this because we use the same cabinets from Lowes/Home Depot, they aren't easy to open.

Have you thought about renting it to buy yourself some time? 

I love the idea of the cleaning @Trevor Reed!   Once we are cash flow positive, we'll be sure to implement this.   The HVAC inspection is another good idea!  Thanks for posting!

From personal experience, if it's a multifamily unit, where they see each other, and they know they should all have the same terms-- be firm.  Tenants talk, observe, and are quick to cry fowl.    Then it's awkward, and they'll probably get a cat, maybe the next is a dog, the ball of stress will start rolling...  Especially if it's just 6-months, definitely not worth the additional stress and possible damage.  

Good advice @Thomas S. for your feedback as well!     It looks like there's a consistent "deny" theme among everyone.   

Thanks!  I appreciate the feedback! 

Hi BP Community,

I just wanted to check in, and see what other landlords do with screening.   Our property is a duplex, and one side requires $675/month or 3x income is $2,025 minimum income.   A potential tenant recently got a new job 1 month ago, and her base pay is $1600/ 80 hrs,  but she has been doing a lot over time and her statement says $2400/110 hours.  It's December, may be seasonal...  Prior to this job, she only made $1800/month, and wouldn't be approved.      

So my question is, for those focusing on the lower income sector.... 

1) Do you include overtime in the screening process for your income/remt ratio?

2) How do you deal with "side jobs" where they get cash, and it's not reported?   I have another potential tenant that does tattoos on the side. 

Any other factors major things you look out for, as red flags or green flags would be helpful!  

Thanks! :)

~Linda