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hi,
in an effort to improve my telephone screening skills and save travel expenses to see the tenant face to face, i would like to screen people on the phone better. more specifically, these three questions:

1) what questions do you ask the prospective tenant on the first phone call?

2) what questions do you ask the employer of the tenant?

3) what questions do you ask references?

hopfully this can help us all out to decide whether we take the next step towards renting out to a tenant without wasting time.

maleena,

although your answer is somewhat close to mine your conversions are quite a ways off. one gallon is about 3.75 liters. here in toronto gas is about 90 cents a liter. so 0.9 X3.75 is $3.375 a gallon. on top of that you can discount the exchange rate which will reduce the price about 10%.

Has anyone had any experience dealing with cottage rental properties? How have they been to manage? Have you had a rental agency manage the property for you? Anything else to add that may relate to my question? I apologize for the vagueness of the question, but I’m just trying to get my feet wet in this area.

Good times. Cash a question for you. When you vendor finance a house how often does the debtor forfeit the mortgage?

Nice story Cash. I think 60-65% with an explanation letter is a perfect way to achieve the optimal initial offer.

Good points. I like the marketing idea. I think it is an extremely overlooked aspect in getting ready for a career. I will be looking to incorporate it into my schedule.

What is your take on the idea that a low cost communication and transportation lines are going to cause a migration of people from cities to rural areas? Do you think cities will remain to have the growth they have been seeing?

Two other arguments that there will be increase population in rural areas are: aging population prefer more relaxed laid back way of life, and the future preference for people are to be around amenity rich areas with a focus on entertainment. Some examples of entertainment are beach life or skiing.

So do you see people spreading out.... or staying compact like cans of tuna?

I’ll add my thoughts later.

I am considering a couple of options for jobs that will assist me in my real estate investment career. To be more specific I was thinking mortgage broker or appraiser. I want to continue my education in one of these fields. I am not done living the university life, its being too kind to me right now. As a result of this I may as well study and get a certificate for something that applies to becoming wealthy through real estate - my goal.

On to the one question I have for you. If you could study one aspect of real estate with the intention of getting some sort of certificate or recognition that would help with investing, what would it be?

Oh and an additional point. Choose any profession that you think will benefit a real estate investment business. I have a real estate agent on my team so cross that one off. (or if you believe it’s the best, choose a second choice)

I’ll appreciate it.

For a typical lowball offer on a property that you fancy that is getting no bites how low do you start? I know many factors and specifics have to be determined on an individual basis and that they can destroy the merit of the question. Things such as how long has it been on the market , sellers needs and emotions and type of market. But I’m looking for an answer that satisfies the psychological angle. One that tells the seller I’m serious but gives me bargaining power for the potential deal.

I’m thinking 75-80% of asking price.

Thoughts?

where was your best deal as an investor? the deal that turned the corner in the way you attacked future projects. it doesn’t have to necessarily be the most profitable one but perhaps teaches a valuable lesson.

ill start. i was calling about a property in a desired location that as i found out during the call had a horrible cap rate, was overpriced and had numerous issues with the city. just before i was about to hang up i asked if he had any other investment properties in the area. and boom, that’s where i first heard about my second and best deal to date. now i never end a call without those simple words.