Skip to content
×
Pro Members Get
Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
ANNUAL Save 54%
$32.50 /mo
$390 billed annualy
MONTHLY
$69 /mo
billed monthly
7 day free trial. Cancel anytime
×
Take Your Forum Experience
to the Next Level
Create a free account and join over 3 million investors sharing
their journeys and helping each other succeed.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
Already a member?  Login here
General Landlording & Rental Properties
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated over 2 years ago on . Most recent reply

User Stats

115
Posts
37
Votes
Tony H.
  • Rocklin
37
Votes |
115
Posts

Need opinion on selecting tenants

Tony H.
  • Rocklin
Posted

Hi there,

It’s been a while since I posted here. Sold my duplex 3 years ago and I just recently jump back into landlording.

We bought a single home here in Sacramento area and I have a couple tenants who are interested to rent.

During this time of year, it’s kind of hard to find tenants. So my options are limited, I have the two tenants described below.

Tenant #1.

Husband and wife, both make Ok. Just barely make the 2.5 rent requirement.

Both credit scores in the range 589-615.

Credit cards maxed out.. several late payments.. lots of credit inquiries.

Flawless Rental History though.. pays rent on-time or even early (according to previous landlords). Although they seem to mover every year or so.

Tenant #2.

Husband and Wife do not make enough..about 2 times rent. They indicated that the wife's dad living with them will help pay for rent.. senior in the 80s.. i didnt bother running his credit check. His income is from ssn and VA.

The couple filed Chapter 13 bankcruptcy 3 years ago and on payment plan for 5 years. They have 2 more years of payment to go. - I am waiting for more documentation on this one..

Credit scores and Credit history looks much better than Tenant #1. No late payments.

Also great rental history.. same place for the last 5 years.

I am leaning towards Tenant#1. I care a lot about rental history and income. 

The bankcruptcy in Tenant#2 scares me. Or should i not be worried?

Tenant#2 will not be able to pay rent if her dad is not willing to pay.

Which one should I pick?


thank you


Most Popular Reply

User Stats

28,236
Posts
41,350
Votes
Nathan Gesner
  • Real Estate Broker
  • Cody, WY
41,350
Votes |
28,236
Posts
Nathan Gesner
  • Real Estate Broker
  • Cody, WY
ModeratorReplied

I wouldn't pick either of them.

Is the property in a low-class neighborhood? Is this the only kind of applicant you can get? Most Landlords want Tenants making 3x the rent, a 650 credit score, no bankruptcies in the last 5+ years, 

  • Nathan Gesner
business profile image
The DIY Landlord Book
4.7 stars
168 Reviews

Loading replies...