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Being a Landlord...

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Re: Being a Landlord...

Postby Omaha Red Sox » Tue Jun 16, 2009 7:46 am

The tenants are officially out. Will be changing the locks in the next couple days or so. Contractor has my key so I wasn't able to get in and see if any damage had been done, but the exterior looks good.
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Re: Being a Landlord...

Postby Metroid » Tue Jun 16, 2009 8:57 am

Right on. ;-D

What are you gonna do? Are you going to rent it again?
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Re: Being a Landlord...

Postby Omaha Red Sox » Tue Jun 16, 2009 9:02 am

Metroid wrote:Right on. ;-D

What are you gonna do? Are you going to rent it again?


Yeah, I'll rent again shortly. I want to do a few more things with the interior and go through the proper channels to get good tenants this time.
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Re: Being a Landlord...

Postby Metroid » Tue Jun 16, 2009 9:07 am

Omaha Red Sox wrote:
Metroid wrote:Right on. ;-D

What are you gonna do? Are you going to rent it again?


Yeah, I'll rent again shortly. I want to do a few more things with the interior and go through the proper channels to get good tenants this time.

Yeah. I'm not sure if it's even an option for you but have you thought about using a property management company?
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Re: Being a Landlord...

Postby Omaha Red Sox » Tue Jun 16, 2009 9:15 am

Metroid wrote:
Omaha Red Sox wrote:
Metroid wrote:Right on. ;-D

What are you gonna do? Are you going to rent it again?


Yeah, I'll rent again shortly. I want to do a few more things with the interior and go through the proper channels to get good tenants this time.

Yeah. I'm not sure if it's even an option for you but have you thought about using a property management company?


I've considered hiring a property manager, but I'd like to try my hand at it some more first. If it gets to be too much for me to handle I might go that route.
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Re: Being a Landlord...

Postby Metroid » Tue Jun 16, 2009 9:18 am

Omaha Red Sox wrote:
Metroid wrote:
Omaha Red Sox wrote:
Yeah, I'll rent again shortly. I want to do a few more things with the interior and go through the proper channels to get good tenants this time.

Yeah. I'm not sure if it's even an option for you but have you thought about using a property management company?


I've considered hiring a property manager, but I'd like to try my hand at it some more first. If it gets to be too much for me to handle I might go that route.

Yeah I would rather handle it myself too, as long as it was something I could do. Property management companies can be expensive I think, unless the property is paid for, it could be hard to give the management company their chunk and still pay the mortgage.
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Re: Being a Landlord...

Postby joejlitz » Wed Jun 17, 2009 4:44 pm

Metroid wrote:
Omaha Red Sox wrote:
Metroid wrote:Yeah. I'm not sure if it's even an option for you but have you thought about using a property management company?


I've considered hiring a property manager, but I'd like to try my hand at it some more first. If it gets to be too much for me to handle I might go that route.

Yeah I would rather handle it myself too, as long as it was something I could do. Property management companies can be expensive I think, unless the property is paid for, it could be hard to give the management company their chunk and still pay the mortgage.

HALLELUJAH!
Congrats on the eviction. Now, don't be silly. Hire that property management company! Most will only take 10% of your monthly rent. On a $1000 rent, that's $100 a month. Now ask yourself...was all the time, effort, and stress you just went through worth $100 a month? Jack your rent up a little to cover the management fee if you're that worried about it. Seriously. Don't do this to yourself again.

But...if you decide to DIY, make sure you get social security numbers, run credit checks, and make phone calls to check employment first before you put someone in there.

Good luck!
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Re: Being a Landlord...

Postby Omaha Red Sox » Tue Jun 30, 2009 8:20 pm

Ok, so the eviction went through, as I said, so I'm talking to more potential tenants. So I meet a guy today. A dentist so I'm thinking he probably has the income to make the month rent. So I have a nearly hour long conversation with him, then I get home and decide to use the incredible resource here, the internet. Being a dentist, I looked up his clinic. Sure enough there are reviews. One caught my eye because this person was uneasy about the service she provided and proceeded to look up information on the 5 dentists who practiced there. She finds out that 4 of the 5 had previous disciplinary actions taken against them leading to suspensions. So I look it up and come to find out this guy tested positive for cocaine and meth back in '06. Wow. Said that he admitted to spending $300-$400 a week on cocaine. I think I'll keep looking.
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Re: Being a Landlord...

Postby lmcjaho » Fri Jul 03, 2009 10:59 pm

Omaha Red Sox wrote:Ok, so the eviction went through, as I said, so I'm talking to more potential tenants. So I meet a guy today. A dentist so I'm thinking he probably has the income to make the month rent. So I have a nearly hour long conversation with him, then I get home and decide to use the incredible resource here, the internet. Being a dentist, I looked up his clinic. Sure enough there are reviews. One caught my eye because this person was uneasy about the service she provided and proceeded to look up information on the 5 dentists who practiced there. She finds out that 4 of the 5 had previous disciplinary actions taken against them leading to suspensions. So I look it up and come to find out this guy tested positive for cocaine and meth back in '06. Wow. Said that he admitted to spending $300-$400 a week on cocaine. I think I'll keep looking.


Hmmm... While I can admit to a gut reaction of "No way, look for someone else" upon reading this, I also have to point out that the positive test was three years ago, and some might consider that a mistake that can be forgiven...

I'd be wary of taking him as a tenant, but I can't say that I'd dismiss him out of hand without asking him about this issue and judging for myself what his current situation is based on that discussion. Either way, tough decision IMO :-?
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Re: Being a Landlord...

Postby joejlitz » Sat Jul 04, 2009 6:11 am

lmcjaho wrote:
Omaha Red Sox wrote:Ok, so the eviction went through, as I said, so I'm talking to more potential tenants. So I meet a guy today. A dentist so I'm thinking he probably has the income to make the month rent. So I have a nearly hour long conversation with him, then I get home and decide to use the incredible resource here, the internet. Being a dentist, I looked up his clinic. Sure enough there are reviews. One caught my eye because this person was uneasy about the service she provided and proceeded to look up information on the 5 dentists who practiced there. She finds out that 4 of the 5 had previous disciplinary actions taken against them leading to suspensions. So I look it up and come to find out this guy tested positive for cocaine and meth back in '06. Wow. Said that he admitted to spending $300-$400 a week on cocaine. I think I'll keep looking.


Hmmm... While I can admit to a gut reaction of "No way, look for someone else" upon reading this, I also have to point out that the positive test was three years ago, and some might consider that a mistake that can be forgiven...

I'd be wary of taking him as a tenant, but I can't say that I'd dismiss him out of hand without asking him about this issue and judging for myself what his current situation is based on that discussion. Either way, tough decision IMO :-?

No way, Jose. Not a tough decision for me. With all due respect, ORS, I'd still use a property manager if I were you, but since you're going this route (and good for you for trying to save a buck and handling your own affairs), drop this guy like a bad habit. No offense lmcjaho, but that type of forgiveness is for family and friends. ORS has been through enough issues when it comes to renters and losing his money because he took a chance on someone. He doesn't need to go through that again - especially this soon. ORS needs to play it safe and protect his investment. My outlook: dentists make a TON of money. If this guy were legit, he would own his own house right now. Combine that with his past coke issues and I'd keep looking. Remember: you're renting, so you'll never find someone with perfect credit, but you can still play it safe.
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