All Forum Posts by: PJ Singh

Hi Team,

Background: I had my first rental property(in Texas) rented back in 2013 with a single lady. For last 2 years I noticed her boyfriend(BF) in rental house, every time I visit for repair or maintenance. I suspected he be living there for past 1-2 years. Last year my tenant had a baby with her BF (I believe) and now that baby turn 1 year old. Our current lease end this month. I casually ask my tenant to add anybody to lease agreement for this year. Of coarse she mentioned her BF, knowing that he is been squatting in house for last 2 years.

Problem: For including BF in lease, I run the  rental application via SmartMove (Bigger pockets). Based on credit/eviction results, he has been evicted from apartment once (back in Jan 2015) Probably living in my rental house ever since. His credit is not that great(few tax liens, debt collection and many late payments). SmartMove gives him residential score 604 and recommended to approve him.

 On the other hand my current tenant did not have any eviction, tax liens, dept. collection and fewer late payments. In past 4 years, she had paid me on time for most part, except one time where she got behind couple of months. But she catch up after that.

Based on BF credit results, he seems riskier individually. However, as a couple I believe they are able to pay rent on time for most part. So I am thinking of moving forward with them.

Question1: Should I include BF as a co-tenant and let both sign the lease?

Question2: Or should I include BF name in  "Use of Premise" section only and let my current tenant to renew lease?

Question3: Do I have to include minor name and age in "Use of Premise" section of lease.

Question 4: Security Deposit: Do I have to rephrase that section stating that security deposit will be only refunded to my original tenant.

Thank you in advance for your valuable feedback.

Great Work Chris! Thanks for sharing. These kind of posts boost newbie flippers

 Thanks Jeremy for your response. I am also realizing that seminars may not be able to teach you everything. Best knowledge is the hand-on experience. But when talk to people in this line of business, they started by attending seminars and gone from there. Not sure if that was the most cost effective way of learning this business. When you google about real estate investing, lot of these paid seminars comes up. 

What is your thought on learning through books?

Hi I am a newbie and wanna learn about real estate investment. Can any body comment on