All Forum Posts by: Michelle James

Thanks for the replies. The gut instinct that Josh mentions is what's tripping me up. I have a positive read on this guy, that he's just trying to rebuild his life after making some stupid choices in his twenties. Then again, I don't want to be the one paying for it if he goes back to making poor choices in regard to his credit.

To clarify, the higher earner brother meets and exceeds the income qualitifications, but has that bankruptcy and works for the family business.

The lower earner brother that doesn't meet the income requirements is young and has a good, but not lengthy credit histroy.

I clear enough between the rent and mortgage payment to drop the price from $900 down to $875 for $850. (mortgage payment is $650), so that is an idea. The house is older but completely remodeled, nicely outfitted, just replaced all the floors. It would not make sense to invest in any additional capital improvements. I consider it marketed well as that is what I do in my day job.

It's in a decent blue-collar neighborhood. The guys are renting a very similiar house across the street for $775, but it's a dump compared to mine and a bit smaller. It's in foreclosure, that is why they want to move.

Had a water leak last year that put it in the red, so I'm trying to recoup those monies and get it back to being profitable. I guess that is why I'm a little more eagar to move forward than I should be.

Thanks. I've had it listed for over 2 weeks and no other decent applicants. How long is reasonable to let it be on the market? Chatting with some other landlords in my area, it seems unusually slow, but the housing marketing is picking up here, so maybe that is why.

Every month I pay the mortgage is a loss, which is always painful yet you dont' want to lower standards and get yourself into a bad tenant situation.

Hi, I'm new here and read the forum fairly regularly, but wanted some opinions on a prospective tenant. I've had my rental for 2 years, the first tenant was a lucky find (great renter, high income, exceptionally responsible), but moved out in December. Haven't recieved any "slam duck" applications to fill the vacancy.

So, I have an applicant that has a very good income but works for his mother at a company his mother started 3 years ago. He filed bankruptcy 3 years ago as well, moved out of his rental and back home (he's 27) to get back on his feet. Got married, had a kid, and moved into a rental across the street 1 year ago. Split from his wife 6 months ago, then his little brother moved into the house (brother has no rental history). Brother also works part time for mom and part time for UPS. Brother has good credit (700) but income does not meet my required income level (2.5x rent).

Seems like he's just trying to get back on his feet, but essentially all the income goes away if this family business goes under. It's a home health care franchise.

1 Prior landlord verification came back fine, the other didn't response after 3 attempts. Criminal background check came back clean for both.

Would you rent to them?

Thanks!