All Forum Posts by: Siye Baker

You need to differentiate between constructive advice and hostile criticism....and this is the former

Sebastian

bump

Very interesting, I will talk to my realtor about that.
for an update:
I resubmitted the offer ($53,400) as an investor, they countered $58k... I countered with $53400 again and they accepted. Now I have an inspection lined up for thursday to see if this is actually going to make the kind of money that I am seeking. If not, then i will pull out of contract and move to next property.

@Colleen F. WOW glad to hear you got that cleared up!. You can't make that kinda stuff up :)

While getting the biggest security deposit upfront might sound like a deal killer- it does allow for a higher percentage of qualified applicants. Someone that doesn't have a at least a few hundred in their checking account is living paycheck to paycheck.

I know plenty of people making good money who are almost always behind on rent. You did the right thing by posting here, as the people above have given you some great advice. Don't forget to become one with your state's landlord/tenant laws!

@Christine Glasner that is quite an incident! Fortunately no none was hurt, and hopefully the insurance company holds up to its end of the deal. Narcolepsy is a scary thing(hope the driver plans his life to keep both him and joe public safe)

@Account Closed I wish you all the luck my friend. Some very sound advice on here. I have been remodeling since 2007 and can tell you that your determination will be necessary for what you are trying to accomplish. It is favorable that you have the other side of the duplex available. Please post pics! :)

Your assessment sounds very fair. I would follow what @Marcia Maynard says to the T. Hands down she has the most efficient approach to landlording (imo), and I am in the process of crafting a lease to model her system.

what kind of security deposit are you asking them to put down? I would charge the maximum allowable security deposit(cashiers check only) and if they can't come up with it, then your odds of receiving timely payment have dropped pretty reasonably.
do you talk to previous landlords going back beyond the most recent one?
do you talk to their employer?

I work at a company of which 80-90% are on government assistance. Of the 20 or so ppl, 3 or 4 live below their means and are improving their life one paycheck at a time. The rest have spent their money 4 days after they are paid(they are paid every 2 weeks). Low income does not always mean irresponsible, but you will have to do your work to find the few that are solid. Good luck!

Might want to seek legal counsel, as you are seemingly in a gray area. It woudl appear that the PM acted unethically, but you need to determine if he did anything illegal to justify you collecting damages. Sorry to hear about all this happening to you.