Potential Tenant Low credit.. Paying up front

[Mark Benevento]

Hey guys, 

My name is Mark, I am a 19 year old investor and just closed my first triplex in New jersey. I have been talking to a potential tenant and he has terrible credit but claims his father has the same name and took his SSN, also has some eviction history but claims its his father because he's only 26. Well he agreed to prepay 4 months and give one months security deposit, he also agreed to stay 4 months ahead of rent and I said that the eviction process will start the second he falls behind because NJ has a long tough eviction process. I was just wondering if anyone could offer any advice I am a little skeptical to offer him a lease.. Thank you !!!

[Roy N.]

Walk .... nay, Run ... away from this trouble.

Bad credit, offering to pay several months upfront {which cannot be legally accepted in some jurisdictions} is a HUGE red flag!

Do you have a formal application and screening process developed?

When we present our application (first page is a summary of the process ... which includes credit history and background checks) to "potential tenants" such as the one you describe above, they typically go away .