All Forum Posts by: Doug Pintarch

Not saying that at all, Anthony. They very rarely do boyfriend and girlfriend as co-signers anymore. This is in PA - and these are both local and national banks, this is not a localized situation. If they have an established car loan or mortgage together it's likely to get done, but if they have no credit together it's highly unlikely to get approved.

0 Votes

Originally posted by @Account Closed:

Pretend you're looking for a place to rent. Now, would you want to rent a place where the landlord has a padlock on the thermostat and you have no way to control the temperature in your home?

If you want decent tenants, you need to give them a home you would want to live in. If you have weird, unreasonable terms, you will only attract applicants who are so desperate, they will agree to anything in order to get housing. And desperate applicants never make for good tenants. They are big problems waiting to move into your life.

This. I wouldn't put my family in a house with a padlock on the thermostat!

0 Votes

This is why banks hate doing them for cars. Me: "So....you're not related..." Her: "We're fiancees" Me: "So..that's a NO..."

I have more than half our available lenders at all our stores now that won't even evaluate the application unless there is significant established joint credit. Meaning an existing mortgage or car loan together.

1 Vote

I love these wholesaler-in-training threads!! No matter how many lucid arguments presented there are still those folks that just want to do it because they don't have a dime in the bank to actually buy anything with and can just "Flip some paper" and make 30 or 40K in a year and then buy an apartment complex. Great read! LOVE IT!!

2 Votes

I agree with @Ben Sears. I started in the car business when I was 18 and would tell anyone who asked me. You're not a secret agent, so don't try to be one. Be a professional and I'll let you help me. If I'm spending my nest egg I wouldn't want to do it with a cocky jerk.

1 Vote

Matt -

Congratulations and welcome to the forum! I'm nowhere near Charlotte, but jump in and get your feet wet! Great place, this is.

1 Vote

I leave a note in the door slot that says:

"Make sure you keep paying...We know where you live. Happy Holidays!"

Kidding! We have an STR and for last year we left our renter over Christmas (came into town to visit relatives) a gift card for the cool restaurant down the street ($50) with a note that actually said "Thanks for staying here with us, Enjoy your Holidays!" We have one this year for 4 days and will do the same thing.

I'm not a total monster.

;)

5 Votes

Originally posted by @Michael Ealy:

Originally posted by @Doug Pintarch:

@Michael Ealy Great post, I am taking it as encouragement and a practical example of going Large-Scale as soon as possible. Still a "Small starter" here but we're working on ourselves and our portfolio! Thank You!

That's great. In addition to "working" on yourself and your portfolio...you should be also be "networking" to find the right people and companies you can partner with. The KNOW-WHO is probably even more important than the KNOW-HOW.

You hit that nail on the head. We've been finding that out for the last 2 years that we've had our rental. Rolodex is getting filled and "Massaged"!

0 Votes

6 Votes

Originally posted by @Russell Brazil:

I had about $100k in debt soon after I got out of school. I paid it all off before I was 30, without making over $70k a year, and that salary only when close to 30. I think my first job was about $30k at age 23.

I lived cheaply, had roommates, got side hustles. I didnt spend $50 on avocado toast, instead I went to cheap happy hours. All while living in 2 of the more expensive cities of Boston and DC. Paid it all off and saved for my first rentals.

We dont have a student loan crisis....we have a personal finance, spending, and consumerism crisis.

Liked, and written in my notebook to be thrown at the next whiner!

1 Vote

All Forum Posts by: Doug Pintarch

Doug Pintarch has started 0 posts and replied 359 times.

Post: Boyfriend and Girlfriend tenants...ugggghhhh

Post: First Duplex-One Furnace. How to navigate?

Post: Boyfriend and Girlfriend tenants...ugggghhhh

Post: New to wholesale real estate in what direction should I start??

Post: Can I fool potential customers about age and experience?

Post: Recently passed the RE Exam in NC!

Post: What do you get your tenants for Christmas?

Post: Small Deals Mean Wasting Time & Making Small Money

Post: Small Deals Mean Wasting Time & Making Small Money

Post: another "poor millennial can't afford a house" article, critiqued