All Forum Posts by: Sam Li

@Domenick T. Thanks Dominick. We asked for 1 additional month deposit than typical but was not going well. The discussion is stopped now.

@Drew Sygit Thanks Drew!

@Domenick T. What would you recommend for security deposit for some tenants with 550-600 credit score? I asked for 2 months while they said they can only do 1 month due to the incoming holiday season. I assume that’s a red flag? Thanks!

@Bob Okenwa Thanks Bob!

@Domenick T. Thanks for the advice! For the upfront cost, do you mean more deposits are required?

@Peter T. Thanks Peter! What would you recommend to ensure the tenant has the capability to pay the rent then? I assume that we should still ask for paychecks and for self employed, how do we validate their income then? Because when people fill in application on Zillow, I could easily see some of them are putting random number as it’s way off compared to the other info that the tenant provided.

Hi, folks,

We're doing some tenants screening with Zillow while its content seems to be not sufficient, especially for tenants with less than 650 credit score which we may want more info. Is that normal to ask tenants for below info during the screening, especially for item 2 and 3? 

For each applications 18 years or older.
1. sign a question form which asks basic informations including employer history, etc
2. Provide driver’s license
3. Provide income proof (last three months paychecks). And for self-employed, provide your latest tax return as well as 3 months worth of bank statements. Contact information of clients is also helpful.
4. credit report and background check.

Thanks

Sam

Thanks

Si

Thanks everyone for the advice. It looks a trustable company but I did charge too less probably (only 10% surcharge). I'll try to re-negotiate.

Hi, I listed a new property purchased and got contacted by a relocation company about renting for 3-4 months and then continue it on a monthly basis. It’s a pretty big relocation company who works with insurance company to provide temp housing to families recently had flood/fire and needs time to repair their house.

The rent is a little bit higher than normal and payment won’t be a problem as the company will pay. After talking to the family, they look to be quite decent. I am looking for tenants now so if I donot have other tenants options right now, I would not lose anything by continuing to find tenants next week versus four months later(after they move out). I’ll get cleaning fee, etc anyway. So I am tempted to move forward.

Any suggestions?

Thanks

Sam

Hi folks. I am new to biggerpockets and just started the journey of investing in real estate (got 2 rental properties this year). I am browsing through the podcasts and see a lot of good resources, but there are too many of them ;-)

Could someone recommend podcasts to start with for newbies?

Thanks

Sam