All Forum Posts by: John Taylor

best wishes to u,, I wanted to give u ithe company to check it out, but this site will not allow it, or let me tell you about it,  it has served me well.

I would give her a chance, as bad things happen to good people, even those with great credit scores as I have learned the hard way,  BUT cover myself with the rental Guarentee. Have her pay for Guarentee, only one months rent or pay it yourself and include cost in rent to reimburse yourself, as you do with other expenses.( you will probably be able to use as tax deduction, if you pay).  You have covered yourself but instead of just for 2 months, , as in first and last month rent collection. you will get 6 months of guaranteed income in case of default And you have given her a chance to recover from a situation that we all might be a victim to one day.  It feels good to help someone who truly needs a hand up and at the same time CYA or income should we say!

I had a similar thing happen so I found the rent Guarentee program & I collected my rent  and found a new tenant w/o taking the financial hit

based on info you said she provided, (income/salary, bad credit this program will most likely work well for you. And it works great especially for us small investors who rely heavily on a consistent NOI. My wife Becky educates landlords and gets them going. It is very easy and has been a game changer for me.

I would consider a rental Guarentee for this client. You can opt to have tenant pay for this service or pay it yourself and include it in the rent- as you do mtg payments, taxes, extra. For the cost of 1 months rent, you can get a guarantee for 6 months to give you time to evict and re-let. I use this for all tenants to protect my NOI, but some use it just for credit challenged tenants. Happy to give info about this service.

Although $27,600 upfront is tempting my main worry is that your rental could turn into a grow house or meth lab. Good neighborhoods are targeted for lack of suspicion. Money for these operations are no problem. Usually a clean cut prospect with a good story is the front man. I personally know a couple of investors having to fight with the RICO law to keep their property. 

There are a couple of ways that I have used that gives me the peace of mind that if I help someone and they cannot complete their rent obligation I am not hurt so bad. The best way I have found is a company that acts as a co-signer. There is no cost to sign up and I use it periodically. I collect the rent. If a tenant defaults they will pay me up to six months rent. I don't think I can post their company name here but you can contact me and I will be glad to help get you the info.