All Forum Posts by: Clare Cui

I have an incredible handyman that has done such good work for my properties in San Diego. He's reliable, trustworthy, and pays great attention to detail.

Do you tip your handyman? He goes above and beyond, plus the holidays are coming up. Thanks in advance!

0 Votes

San Diego, California

I have someone applying to my property, and they are here in the US on a work Visa. I do a rent by room strategy, and I use a tenant application platform (Turbo Tenant which I love) but they're having trouble inputting their info....

Is there another way to verify income, credit score etc with a foreign visa? Thank you in advance!

0 Votes

Denver, Colorado

Hello Fellow Investors!

I'm an investor in Denver looking to build a team in Charlottesville Virginia. I need a local Virginia lender and agent, and I would love to know what questions you like to ask to build this team.

We have a property in Denver that we rent be room house hack and it's a conventional loan with a slammin interest rate of 2.5%, I'd like to buy another primary residence and house hack that one (rinse and repeat, you get it).

What questions do you like to ask lenders if I would like to offset my debt income ratio with the current leases or a rental survey?

And for agents what questions do you like to ask in order to vet their negotiating skills?

There's a few properties I have my eyes on that I'd like to win. Thank you in advance!

2 Votes

Wow all these insights are so powerful ,and ultimately I decided to go with my gut and Im glad I did. I don't think it's worth it to me in the long run from past mistakes and I'm going to stick to my standards. Thank you everyone!

2 Votes

Boston, Massachusetts

Hello all,

I have a prospective tenant for a rent by room strategy, we're in initial stages (he hasn't officially filled out the application to verify his credit score) and he is letting me know he filed bankruptcy in 2020, but his credit score should be above 620.

Any thoughts on a good credit score but a bankruptcy in the past? I could also ask him to provide a report from his business (he is self employed) of his P&L and transaction reports to make sure he is making money etc.

Thank you in advance!

0 Votes

Quote from @Bill S.:

@Clare Cui my questioning starts with a couple easy short answer questions (a sort of "yes" set"). Things that verify data the applicant provided like when they lived or worked there, how much was rent or their pay. Then I move to something like, how did you find them as a tenant/worker (meaning how did the lead come to them)? I ask them any late payments, or no show no call for work. I ask if they would rent to them again or hire them again. If I don't find people talking freely and glowingly, it's a pass. I get three of each job and tenancy. So current job, and prior job and then the one before that. Out of those 6, If I can't get at least 2 people to talk to me or I get any negative feedback from anyone, it's a pass.

Finally, no matter how good/bad the credit any collections related to housing (except cable company).

Also to @John Steffen's comments about stories. I pretty much go deaf when people start with a story. I literally don't care what their story is. If they say that their landlord treated them poorly or any talking bad about a landlord it's a no go. While I know there are bad landlords, it is typically the case that good tenants know how to avoid bad landlords. At best these folks lack good judgement which to me makes them a bad tenant.

Remember, a vacancy is a blessing compared to a bad tenant. Keep looking.

Wow thank you Bill! And let me clarify, the questions you put above seem for a past landlord, I was asking about the open ended questions you would ask a prospective tenant. Thank you again, I like adding to my arsenal!

0 Votes

Denver, Colorado

Quote from @John Steffen:

Bill hit the nail on the head. Personally, I don't mind co-signers IF your spidy senses aren't tingling in those open-ended conversations. Trust your gut here. For example, one steady red flag I've noticed is if the tenant tries to overly sell themselves almost with a rehearsed pitch before you even start asking questions especially. Sometimes before even asking a specific question, they will start rambling a rehearsed excuse story on their credit, previous landlord troubles, job losses, etc. It's usually foreshadowing their future excuse stories for missing rent.

Totally, I've had those types of conversations as well and stay away from them trying to overly sell, it's way to fishy! Thank you for your insight.

0 Votes

Denver, Colorado

Quote from @Bill S.:

@Clare Cui so I don't have an answer. Generally speaking, I avoid co-signers. If I allow them, they must own real estate and have impeccable credit. It has been my experience that problem children will present themselves in the screening process if properly screened. My advise would be to do more phone calls to past job references and living situations and ask open ended questions. If you are careful and listen well you will be able to see through the smoke and mirrors to the real applicant. Also the market has softened and it take longer to fill vacancies. Be patient. The days of posting on Friday and having an approved applicant by Sat pm are gone for the time being. Stay the course and look at upping your marketing approach. Get better pictures, stage the space and make sure it looks and smells great.

Wow, thanks Bill for your response I really appreciate your insight. I had that feeling and just wanted to confirm that. Would you be willing to share what open ended questions you like to ask (just so I have them in my back pocket?). And you are so right about the marketing efforts, I'll be adjusting that accordingly! I appreciate your guidance and time

0 Votes

Denver, Colorado

Hello all,

I do a rent by room strategy outside of Denver proper, and in the past have been burned a common denominator of two tenant that I allowed co-signers were not a good fit. One tenant in particular that was a nightmare (we had to evict and learned some HARD lessons with house standards), which impacted another tenant who started also being difficult.

Currently I'm having a hard time filling my rooms, and it's making me re-think should I allow cosigners if I screen them more?

Or just hold on tight to my standards even if theres a vacancy?

Open to how you screen and prevent problem children!

0 Votes

Denver, Colorado

I have a 2 bed 1 bath garden unit, I have this possible tenant who is interested, she makes about $3500 with disability and social services. She has a co-signer willing to sign, but I'm hesitant with her age/safety (the garden unit has a steep staircase) and with rent being $1800 is that doable for her? I'm thinking that at least social security is steady, but I don't want to take any risks. Any advice? I have a tender heart but this is also my BUSINESS. Thank you in advance

0 Votes

All Forum Posts by: Clare Cui

Clare Cui has started 9 posts and replied 14 times.

Post: Do you tip your handyman?

Post: Verifying Australian Credit Score and Background?

Post: Building a new team (lender + agent)

Post: Should I Accept a Guarantor on a Rental Application?

Post: Bankruptcy (but great credit score?)

Post: Co-signers? (skittish from bad experience)

Post: Co-signers? (skittish from bad experience)

Post: Co-signers? (skittish from bad experience)

Post: Co-signers? (skittish from bad experience)

Post: Possible tenant on Social Security and cosigner.... worth it?