All Forum Posts by: Shane H.

Haha, you guys are great! =) thank you

Hey everyone, had an odd situation happen and I was wondering what you guys woudl recommend that I do.

Had a VERY interested couple show up to a showing and filled out an application and wrote a check for the app fee's. She has been texting me non stop about how excited they were and whatnot. She then called me at 9 o'clock at night crying about how her current landlord is only giving her 10 days to move out. (don't get me wrong, all kinds of red flags here, I'm not asking whether to accept them or not.)

I calmed her down and said I would process the application as quickly as possible for her. She then sent two more texts an hour later (so now this is 10pm at night) saying how desperate she was and another about how crazy her landlord was being. I responded that I understand the situation she is in, but I would advise her to keep our conversations as professional as possible.

Then this morning I receive a text message saying she'd like to withdraw the application. I have not run credit or background yet, or deposited her app fee.

So my question is this, do I send the check back with an adverse action? or do I just shred the check and not send an adverse action since I didn't decline due to credit?

Thanks in advance!

@Account Closed I did read the whole thread. And I am just giving a basic example of what everyone is trying to tell you. It makes sense to borrow money at 5% and earn 10% with it. It does not make sense to borrow money at 10% and only make 5% on it... However you could choose to do that to free up other capital, and it might be worth it for you to do just that, but you will in fact have negative leverage that it cutting into your profits.

I'm not going to lie, I honestly think you've gone a little off the deep end here with this thread. This post was about @Andrey Y. and I know J has realized this and has since gone back to the subject at hand, but you continue to insult everyone you can instead of trying to help those wanting to learn. 

I would recommend you sleep it off and come back tomorrow with a cool head before you continue to make a negative impression of yourself.

Just for my own clarification, J you are basically saying that it makes no sense to borrow $10k from a loan that is charging 10% interest to invest that $10k into a CD that is only paying 6% dividends right?

If i'm not mistaken, is that pretty much the sum of the debate here?

Oh c'mon... I can't believe anyone has yet to mention the best course of action... go to vegas and put it all on black.... ;)

Thank you @Dawn Anastasi and @Mike M. very helpful. I downloaded a similar set of note cards off of google that look perfect for what I need.

That is also a very good point Rodney, thank you. I suppose the same concept applies to the food stamps as well....

What would be the most likely reason for a lawsuit if you mismanage your callers?

I've tried searching for something on this subject but came up short. I currently have a house under remodel that will be finished this week and there are 5 people wanting to see it when it's done. I have not posted an ad on Craigslist for it yet as it isn't ready for pictures. But I am receiving about 3-6 calls a day on the yard sign, and usually at least one of those is interested after hearing the automated voicemail with the details.

So my question is this, how do I keep track of the interested prospects as they call? I imagine it will be a moot point once the unit is ready; if they turn in an app then I have that to keep track of them, if they don't turn in an app, then I don't need to remember them.

Currently I have been keeping a notebook and taking as many notes on them as I can to try and keep them all straight.

Has anyone else run into this problem?

I am really glad I asked this question, so many great responses. So far my thoughts on this are that if all other criteria look great/good then I could use their food stamps as income and feel good about it. However, if other things are not quite adding up but I can't put my finger on why, then I could use it as the basis for a declination.

I am very open to additional thoughts on this though, very interesting stuff.