All Forum Posts by: Jordan Mandel

Hi BP Fam - 

Looking for a Chicago-land property manager to handle 1 condo in the city and 1 single family home in the suburbs. Any recommendations on reputable PM companies? Most companies in the burbs have unflattering reviews and looking for 1 company who can manage both for me.

Thanks!

Story: Applicant just sold their home and needs a place to live quickly. Offering to pay 12 months rent up front. Inventory in my market is limited so I believe the offer to pay up front is to ensure a strong application. 

Question: If the background and credit check for an applicant comes back strong (credit, employment, background) - would you accept 12 months rent up front?

Please throw all the flags in my direction, no matter how basic. This is my second rental and I'm running into a lot of scenarios for the first time.

@Nathan Gesner appreciate the advice! You too, @Theresa Harris

@Theresa Harris

@Theresa Harris

@Theresa Harris tenant #2 feels like a stronger tenant based on job (high W2 earner versus tenant #1 relying on divorce settlement funds) and also has better credit (both strong enough credit, but tenant 1 carrying a healthy balance of debt).

TL;DR - The first application I accepted for my new rental is from my second choice of potential tenants. Am I risking a discrimination lawsuit if I don't provide this tenant the first opportunity to rent? 

- I accepted an application (no lease drafted) from potential tenant #1. Application was fine. Good enough credit (over 720), carrying some debt, clean background check, etc. Rent will be paid using monthly funds received in divorce settlement. Can afford to rent this home based on income provided.

- Tenant #2 comes around and appears to be a slightly more qualified applicant. I'd prefer this tenant, but already had tenant #1 submit an application.

Thanks @Joe Splitrock! 

I don't have use for that particular part of the property and it feels like the risk would be in this being a concern for the lender, title company, insurance company...or a future buyer.

Right?

@Greg Scott @Zachary Fix appreciate the quick notes.

Can't say I really care about the 2 feet over the property line. While I may use this a few weekends a year with my family, the intention for purchase is to be a short term rental - where the 2 feet is irrelevant when it comes to finding tenants and for my tenants' experience on the property.

Thanks!

Hi BP Family -

A property I'm interested in purchasing as a short term rental has an unsolved easement on it due to the neighbor having built their driveway 2 feet over their property line - into the one I'm considering.

Would this be a reason not to purchase? Any major red flags to close on a property with this easement unsolved?

Huge thanks for any POVs.

@Stephen DeFalco I've also been looking for a partner to explore the multi-family space with. Feel free to shoot me a DM and we can find time to connect this week.

Minocqua! Such a beautiful area. Went to camp there as a kid!

I'm interested in purchasing in the area and would love to chat as well. Always thrilled to partner or collaborate if anyone else following this discussion is open to that.

Hope you had a great weekend.