All Forum Posts by: Heath Jones

@Alex Johnson

I’m curious what you mean by screen better? It seems like you did a background and credit score check. I want to know what you (or anyone else on this thread) could have done differently to prevent this. Even if you meet with them several times before you sing the lease and hand them the keys, there true nature may still be hidden.

I recently had an older lady who was a little high-maintenance who ultimately broke her lease after 4 months and move out. Luckily, she was nowhere near the level you are describing and is actually very very sweet. She had a 830 credit score, everything was paid on time, no criminal history, a steady job. After she moved in, I did everything in my power to take care of her and all of her request as soon as possible, but it wasn’t enough to do her.

Silly things like she thought some potpourri leaves that fell out of her moving boxes from a bag of potpourri that was literally above the leaves was snake poop. She said she was so scared a snake was in the room, that she ran out, shut the door and put a towel under the door, stayed in bedroom, put a towel under that door and googled pictures of snake poop all night because she kept the lights on all night and couldn’t sleep.

She eventually wanted to move out and so I let her. I was actually a little bit relieved to be honest.

The question I want to know is how do you screen for crazy?

@Russell Brazil

If you have a property rented, no intention of selling for another 15 years or more, and have a proper amount of reserves, is being over leveraged really a concern?

@Kevin Lefeuvre

Just had my first tenant tel me they aren’t working until April 6th and won’t be getting a paycheck for the next two weeks that they aren’t working.

How many think this $1000 check the government is giving out will be used to pay for rent?

@Jacob Lapp

Personally, it could be the best time to buy, and no matter what you bought it would make you money... I still would not buy anything. This all stems from a lack of understanding the stock market and the fairy dust people take fees to sell you that may sparkle at one time and look like rust (if there is even anything left) after things plunge.

I like investing in things I can see and touch. From my rental properties, I get checks at the first of the month that I then go cash and put in the bank. I can understand that. I understand that I need to keep them up and make them nice. I understand that if I increase the income of our bigger apartment buildings, that I can make them worth more.

There’s nothing I can do that’s going to make any stock I buy go up. Plain and simple. I don’t fault anyone else for playing the stock market, the game of real estate is just easier for me to understand.

@Christian Carle

My business partner currently lives in Pensacola, so if you wanted to get in touch with him, he may be able offer some perspective a an investor who has lived there for a while now. His name is @Shelon Hutchinson. Nashville is gonna be a fun place to live from what I’ve heard. Good luck!

@Christian Carle

If you have enough for a down payment of another FHA loan, I would recommend keeping and renting it, and then buying another in Nashville.

I should mention thought that I have friends that are in the same boat as you but a little farther along as they moved here about 7-8 months ago. Their place isn’t cash flowing, and they are having to pay about $100 os so on top of the rent they are collecting for mortgage, insurance and PM. Plus, their first tenant is a high maintenance-type of tenant. They want to sell, because it is kinda of a headache for them.

As with everything, it depends on your goals. You already have a place that is owned by you and now you can get another property with low money down. How many people would love to own a property for just 100-200 extra per month, with the potential to cash flow? Plus, with it being so new, there may still be building in the area and it might be tough to sell.

Let us know what you decide!

Thanks everyone for confirming my guy. I appreciate you all!!

@Jay Maranan

Personally, I’m working to move all my apartment units and rentals to be as carpet free as possible. I’m going with LVP that is section wherever I can.

I had a tenant me ask if an another adult who will be living with her and her two children needs to be on the lease.

My feeling is yes and if they are going to be on the lease, then they need to also undergo a background check. Thoughts?

@Troy Sheets

You make a fair point. I can say that I’ve had a few tenants fall in tough times and miss a payment but when I offer them a chance to pay 1/4-1/5 of what they owe on top of the upcoming the month’s rent, they are always grateful and get it done.

Granted, some of the “not so respectful” tenants I use to have probably wouldn’t have, but I have worked to get better tenants than the ones in jetties and screen better. Also, it may be a fault, but I trust my tenants to make it right until they show me they can’t. At that point though, 🤷‍♂️ what’d I do. I am running a business here.