Being a Landlord... - Fantasy Football Cafe 2014 Fantasy Football Cafe


Return to General Talk

Being a Landlord...

Moderator: Football Moderators

Re: Being a Landlord...

Postby Omaha Red Sox » Sat Jul 04, 2009 9:38 am

joejlitz wrote:
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.


Yeah, lmcjaho, I'm all for second chances for people, really I am. I'd love to think he's on the straight and narrow. Lord willing he is. However, a couple red flags that I thought of afterwards have made me grateful he hasn't called me back. First of all, he just got divorced, but is already remarried with a 10-week old, but didn't mention his new wife and kid initially. Only after I began asking a lot of questions. Not sure what that means, but you would think most guys would make that one of the first things they mention. Secondly, he was very, uh, uncertain, about a few obvious questions I asked. Like, how many people will be living there? Hesitated and finally said just him. This was before he told me about his new wife. I was discussing carpeting the 2nd floor and mentioned constructing some walls to make some bedrooms and asked he said something about making it his office. Pretty large office. So basically, just his demeanor was a bit strange now that I think back on it. After showing the house we talked in front of the house for a good 15-20 minutes and he just really opened up and I got the feeling he was trying to make me feel sorry for him. Oh, and he asked about the neighbors, which is not unusual I suppose, but he also asked how often they're "around". Not sure what that means. If they live there, they're probably "around" quite a bit. Anyway, he hasn't called back for a follow up so I think I'm going to get a few things done on the house and use Craigslist for a tenant. This was suggested by my contractor, whose wife is a real estate agent. They're in the business of buying and selling homes that he improves. They do very well so I'm very open to their advice and experience.
Omaha Red Sox
Hall of Fame Hero
Hall of Fame Hero

User avatar
Cafe Ranker
Posts: 12290
Joined: 29 Jun 2005
Home Cafe: Football
Location: Probably over there

Re: Being a Landlord...

Postby lmcjaho » Sat Jul 04, 2009 3:04 pm

Omaha Red Sox wrote:Yeah, lmcjaho, I'm all for second chances for people, really I am. I'd love to think he's on the straight and narrow. Lord willing he is. However, a couple red flags that I thought of afterwards have made me grateful he hasn't called me back. First of all, he just got divorced, but is already remarried with a 10-week old, but didn't mention his new wife and kid initially. Only after I began asking a lot of questions. Not sure what that means, but you would think most guys would make that one of the first things they mention. Secondly, he was very, uh, uncertain, about a few obvious questions I asked. Like, how many people will be living there? Hesitated and finally said just him. This was before he told me about his new wife. I was discussing carpeting the 2nd floor and mentioned constructing some walls to make some bedrooms and asked he said something about making it his office. Pretty large office. So basically, just his demeanor was a bit strange now that I think back on it. After showing the house we talked in front of the house for a good 15-20 minutes and he just really opened up and I got the feeling he was trying to make me feel sorry for him. Oh, and he asked about the neighbors, which is not unusual I suppose, but he also asked how often they're "around". Not sure what that means. If they live there, they're probably "around" quite a bit. Anyway, he hasn't called back for a follow up so I think I'm going to get a few things done on the house and use Craigslist for a tenant. This was suggested by my contractor, whose wife is a real estate agent. They're in the business of buying and selling homes that he improves. They do very well so I'm very open to their advice and experience.



Well none of the above was mentioned in your original post - just that you found some dirt on the guy on the interwebz after speaking with him. Combine the dirt you found with the vibe you got and I wholeheartedly agree - it just came across (to me at least) initially like you were letting some 3-year old stuff you found dissuade you from a decision you had made after speaking face-to-face with him. If all it did was reinforce your initial opinion then good find :-°
Image
Sig courtesy of Soty - muchos gracias amigo!
lmcjaho
General Manager
General Manager

User avatar
Cafe RankerEagle Eye
Posts: 3441
Joined: 27 Jun 2005
Home Cafe: Football
Location: Montreal

Re: Being a Landlord...

Postby Omaha Red Sox » Sat Jul 04, 2009 11:20 pm

lmcjaho wrote:
Omaha Red Sox wrote:Yeah, lmcjaho, I'm all for second chances for people, really I am. I'd love to think he's on the straight and narrow. Lord willing he is. However, a couple red flags that I thought of afterwards have made me grateful he hasn't called me back. First of all, he just got divorced, but is already remarried with a 10-week old, but didn't mention his new wife and kid initially. Only after I began asking a lot of questions. Not sure what that means, but you would think most guys would make that one of the first things they mention. Secondly, he was very, uh, uncertain, about a few obvious questions I asked. Like, how many people will be living there? Hesitated and finally said just him. This was before he told me about his new wife. I was discussing carpeting the 2nd floor and mentioned constructing some walls to make some bedrooms and asked he said something about making it his office. Pretty large office. So basically, just his demeanor was a bit strange now that I think back on it. After showing the house we talked in front of the house for a good 15-20 minutes and he just really opened up and I got the feeling he was trying to make me feel sorry for him. Oh, and he asked about the neighbors, which is not unusual I suppose, but he also asked how often they're "around". Not sure what that means. If they live there, they're probably "around" quite a bit. Anyway, he hasn't called back for a follow up so I think I'm going to get a few things done on the house and use Craigslist for a tenant. This was suggested by my contractor, whose wife is a real estate agent. They're in the business of buying and selling homes that he improves. They do very well so I'm very open to their advice and experience.



Well none of the above was mentioned in your original post - just that you found some dirt on the guy on the interwebz after speaking with him. Combine the dirt you found with the vibe you got and I wholeheartedly agree - it just came across (to me at least) initially like you were letting some 3-year old stuff you found dissuade you from a decision you had made after speaking face-to-face with him. If all it did was reinforce your initial opinion then good find :-°


It was one of those, thinking about it further things. If I'd gone off of my gut, initial instinct right off the bat, I probably wouldn't have thought twice. But the findings persuaded me to analyze our conversations a little more. I'm really bad about thinking too good about people, assuming their intentions are good. I try to remind myself that there are a lot of people with bad intentions in mind, but it takes a while for me to register this sometimes.
Omaha Red Sox
Hall of Fame Hero
Hall of Fame Hero

User avatar
Cafe Ranker
Posts: 12290
Joined: 29 Jun 2005
Home Cafe: Football
Location: Probably over there

Re: Being a Landlord...

Postby SniperShot » Sun Jul 05, 2009 8:42 pm

Just read the 9 pages of this thread and it has given me interesting insight into an area of life that I've never touched or had any experience with. Very interesting reading it all in case something like this comes my way down the road. (Which of course is possible!)

I hope your next tenant turns out better ORS! I'm very similar, I always try to find the good in people and sometimes it blinds me to the actual truth that they just aren't very good people...
SniperShot
Hall of Fame Hero
Hall of Fame Hero

User avatar
Cafe WriterCafe RankerGraphics ExpertEagle EyeWeb SupporterPick 3 Weekly WinnerMatchup Meltdown SurvivorCafe Blackjack Weekly Winner
Posts: 7511
(Past Year: 14)
Joined: 27 Aug 2004
Home Cafe: Football
Location: Fairfax, VA

Re: Being a Landlord...

Postby joejlitz » Mon Jul 06, 2009 6:42 am

ORS - Just had a conversation with an old buddy of mine who has been doing this a long time. He basically got on my case for:

1) not raising the rent every year - even if it is only $25-50. Tenants would understand that and it allows you to keep pace with inflation.

2) allowing my tenants to go month-to-month for the past year. They had a one year lease and it finished last year. His advice was to have them sign a new lease. Offer them a one-year lease for $1375 a month or a two-year lease for $1325 a month (for example).
This protects me if they want to get out of my place and then I won't have anyone to rent to and it also gives them the option of selecting the cheaper rent by locking into a longer contract.

I believe I will take him up on both of these and I thought I would share his advice with you.

All the best,

Litz
"There is no charge for awesomeness or attractiveness." - Po (Kung Fu Panda)
Image
joejlitz
Mod in Retirement
Mod in Retirement

User avatar
EditorCafeholicFantasy ExpertCafe WriterCafe RankerMock(ing) DrafterEagle EyeCafe SpotterCafe MusketeerPick 3 Weekly WinnerMatchup Meltdown SurvivorCafe Blackjack Weekly Winner
Posts: 7050
(Past Year: 37)
Joined: 21 Sep 2007
Home Cafe: Football
Location: G-14 Classified

Re: Being a Landlord...

Postby Omaha Red Sox » Mon Jul 06, 2009 7:48 am

joejlitz wrote:ORS - Just had a conversation with an old buddy of mine who has been doing this a long time. He basically got on my case for:

1) not raising the rent every year - even if it is only $25-50. Tenants would understand that and it allows you to keep pace with inflation.

2) allowing my tenants to go month-to-month for the past year. They had a one year lease and it finished last year. His advice was to have them sign a new lease. Offer them a one-year lease for $1375 a month or a two-year lease for $1325 a month (for example).
This protects me if they want to get out of my place and then I won't have anyone to rent to and it also gives them the option of selecting the cheaper rent by locking into a longer contract.

I believe I will take him up on both of these and I thought I would share his advice with you.

All the best,

Litz


Ah, good deal. Thanks. I like both of those ideas, but I'm going short lease for now till I'm sure I have someone who will consistently not be a problem for me.
Omaha Red Sox
Hall of Fame Hero
Hall of Fame Hero

User avatar
Cafe Ranker
Posts: 12290
Joined: 29 Jun 2005
Home Cafe: Football
Location: Probably over there

Re: Being a Landlord...

Postby Omaha Red Sox » Thu Oct 01, 2009 10:53 am

Ok, so I have new tenants now as of today. A couple college age guys. Solid jobs and appear to be low maintenance since they're both in the construction industry. They are really happy with the place so far and we signed a year lease so I hope it works out for them. And for me.
Omaha Red Sox
Hall of Fame Hero
Hall of Fame Hero

User avatar
Cafe Ranker
Posts: 12290
Joined: 29 Jun 2005
Home Cafe: Football
Location: Probably over there

Re: Being a Landlord...

Postby scottaa1 » Thu Oct 01, 2009 10:57 am

Omaha Red Sox wrote:they're both in the construction industry.


Is one of them in a band, too? ;-)

Image
Image
Thanks Chaoyi Shih for the sig.
scottaa1
Mod in Retirement
Mod in Retirement

User avatar
EditorCafeholicFantasy ExpertCafe WriterMock(ing) DrafterGolden Eagle EyePick 3 Weekly WinnerMatchup Meltdown SurvivorCafe Blackjack Weekly Winner
Posts: 8540
(Past Year: 13)
Joined: 17 Oct 2004
Home Cafe: Football
Location: Indy

Re: Being a Landlord...

Postby Omaha Red Sox » Thu Oct 01, 2009 11:14 am

scottaa1 wrote:
Omaha Red Sox wrote:they're both in the construction industry.


Is one of them in a band, too? ;-)

Image


They one guy was wearing cowboy boots yesterday so that is definitely them on the left. And those other guys are friends of theirs that I was introduced to last week for some reason. Good group of guys. They won't be loud will they?
Omaha Red Sox
Hall of Fame Hero
Hall of Fame Hero

User avatar
Cafe Ranker
Posts: 12290
Joined: 29 Jun 2005
Home Cafe: Football
Location: Probably over there

Re: Being a Landlord...

Postby Dan Lambskin » Thu Oct 01, 2009 12:14 pm

Omaha Red Sox wrote:Ok, so I have new tenants now as of today. A couple college age guys. Solid jobs and appear to be low maintenance since they're both in the construction industry. They are really happy with the place so far and we signed a year lease so I hope it works out for them. And for me.


cool...i know you're a family man but you should stop by from time to time to see if they have any hot chicks over...maybe help them install a pool or hot-tub or something
Dan Lambskin
Hall of Fame Hero
Hall of Fame Hero

User avatar
EditorFantasy ExpertCafe RankerMock(ing) DrafterEagle EyeSurvival Of The Fittest WinnerPick 3 Weekly WinnerMatchup Meltdown SurvivorCafe Blackjack Weekly WinnerLucky Ladders Weekly WinnerTrivia Time Trial Monthly Winner
Posts: 7054
Joined: 20 Mar 2005
Home Cafe: Baseball
Location: being a fan of the worst franchise in the NFL

PreviousNext

Return to General Talk

Who is online

Users browsing this forum: No registered users and 5 guests

Forums Articles & Tips Start & Sit Sleepers Rankings Leagues


Get Ready...
The 2014 NFL season kicks off in 23:20 hours
(and 44 days)
2014 NFL Schedule


  • Fantasy Football
  • Article Submissions
  • Privacy Statement
  • Site Survey 
  • Contact