All Forum Posts by: Terri Pour-Rastegar

Hi there.  Does anyone already have a good tenant screening form/checklist they use while processing applications?  I'd especially like to see some good examples of scoring systems if anyone has them.

Usually, it's pretty easy for me to select which tenant I think is the best.  However, I often have multiple viable applications in front of me, and it's not easy to decide.  I'm not complaining, mind you--it's a great problem to have!  But, in those situations, I wish I could apply a scoring system to help make my decision easier.

Yes, I've been through the BP Ultimate Tenant Screening Guide thing and poured through all of the documents in the File Place here on BP.  Not finding quite what I need. 

Thanks.  :)

I use CreditLink.  I've never had a site inspection, although I went through a reasonable vetting/application procedure for my business.  Applicants do not have to do anything.  I enter their info on CreditLink's simple online form and submit it.  Results are nearly instantaneous (although, if something comes up on their background/criminal reports, the details can take another 15-30 minutes to arrive).  I find it very convenient and speedy.

I'm pretty sure it violates Fair Housing Law to deny an applicant based solely on whether or not they have tattoos.  Please check your local FHL to see if they speak directly on that issue or not.  Personally, I don't care if someone has tattoos.  Although I am a leary of those with multiple facial tattoos.  But I'm just not sure it would be legal to reject them just for their body art.  Let me know what you find out.

You've received a lot of great info and advice here, @Jimmy Humphrey.  About 25% of the equity of my properties is leveraged.  I'm probably UNDERleveraged, so we are looking into pulling some of the equity out so we can continue to buy properties, make improvements to existing properties, etc., all without having to access our own cash.

I wouldn't get out of bed each day for only $100 per door.  I'll go back to a 9-5 before accepting such a low amount.  The deals are still out there, even in our Charlotte region.  We all just have to work a little smarter to find them.  Whatever you do, do not settle for a "fair" or even "good" deal.  Make sure it's great--that gives you plenty of room for error.  Trust me, you'll sleep better at night.  Plus, you'll actually make money, which is the whole point after all.  

It's all about balance.

Hello all!  I'm looking for a portfolio or other non-recourse lender in the Charlotte NC or York County SC regions.  I know of B2R and will be contacting them today, but wondered who else could be recommended.  Thanks!  :)

Hi @David Chwaszczewski.  In the past, when I've done this, I'd called the EPA and was told they don't regulation residential fuel oil tanks.  I contacted a local fuel oil supplier, who charged me $200 to pump out whatever was in the tank, figure out what was in there, and haul it off.  They then filled the tank with sand and cut off the risers.  That was that.  Oh, and they reimbursed me about $75 for the usable fuel oil that they'd pumped out.  Not a bad deal.  

This time, I skipped the EPA and contacted fuel oil suppliers, and one after the other said they didn't do it that way anymore.  They suggested I call a company called SafetyKleen.  SafetyKleen would charge me nearly $1200 just to test the contents, the results of which test would take 2+ weeks to receive.  Then, they would charge another $1500 or so to pump out the contents, dig up the tank, run soil analyses, etc.  Hauling off and disposing of the contents was an entirely different step and would cost $900+, depending on if soil was found to be contaminated.  Hauling off the tank is another step and another cost.

I ended up buying a pump and some tanks, pumped out the fuel oil myself and gave it to a guy who uses it to heat his workshop.  My grading contractor will gently dig up the tank, and one of my workers wants to keep the tank to turn it into a smoker/grill.  If we find any oil has leaked into the soil, my grading contractor will carefully dig it up and dispose of it separately at the proper local facility for a nominal fee.  So, all totaled, my expenses were about $900 for the pump and tanks (which I'm sure we'll use again) plus $350 labor for the guys who did all the pumping and hauling.  My grading contractor will already be onsite, grading the entire property, so he's not charging me extra.

I'm always careful not to contribute to any existing pollution problems, but I'm also not interested in blowing a potential $5000 when I was able to find an alternative and safe and less expensive solution.

Hello everybody.  I need a buried fuel oil tank pumped out so it can be removed ASAP.  Yes, I know it can be pumped out and filled with sand and left in place, but I have an agreement with the owner to remove it--long story.  Safety-Kleen wants to charge me $3000 just to test the oil and pump it out.  That's insane.  So I wondered if anyone out there has any recommendations.  Property is located in 29710 zip code--northern SC, just south of Charlotte NC.

Thanks!  :)

I did a couple of deals with Angela just a month or so ago.  She's great to work with and knows her stuff.  Very pleasant and professional and knows how to get the deal done.  Let's help her out so she can bring is even more great deals.  :)

@Bill Gulley Great information, Bill.  I understand completely.  Sounds like I need to use my residential lease, and simply include a strong, detailed addendum permitting the daycare use and outlining each party's responsibilities. Thanks a million!

@Bill Gulley, I'm not sure if zoning cares whether my lease says residential or commercial at the top.  I just have to make sure the lease is in line with residential landlord-tenant laws, I think.  Maybe I'm wrong.  But my residential leases do not allow for businesses to be operated; nor do they allow for the tenant to make any changes to the building.  So really, I have modified a 'commercial' lease to cover all of these bases.  I found it was much easier than modifying my residential lease.

Again, as I said, I'm new to this, so I'm sure I have much more to learn.  Hopefully, I won't learn it the hard way.  So please feel free to correct me.