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Updated almost 11 years ago on . Most recent reply
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Advice for beginning partners
I felt like posting a little story for other beginning investors, especially those who have partners. It doesn't really matter if those partners are friends, family, or your spouse. Recently I had a unit open up that needed to be rented. Since I am in Afghanistan I let my wife do the tenant selection since I wouldn't have time to do any of the work myself.
One day she tells me that she has found a possible tenant who was interested in renting with us. She gave me the information and I told her right away that it was a bad idea and we shouldn't rent to them. She wanted another opinion so I posed the question for everyone on bigger pockets to answer as well, they replied with the same answer.
Deciding to not listen to me she went ahead and signed the new lease with the tenant telling me that everything would work oout and she had high hopes for the whole situation. It has been three weeks and we are now filing for the eviction of the new tenant.
So, my advice to beginners and to partners is listen to each other. Reguardless of how you 'feel' about a deal, don't fight the facts just because of pride. Trust each other.