All Forum Posts by: Kool K.

Bump

Sorry to bring up aged post... Doing this strategy, lender denied me a loan because they said I was going from one multifamily to another multi family and that is just a way to build an investment portfolio. I refinanced my first 4 family from FHA into an equity loan so that I can specifically buy another multi with FHA. And got denied. Soooo did they tighten up the rules on BRRRR? No longer allowed to buy a second multi family with FHA if you already own one??!

I see your point guys, I may be scaring prospects away before I build any rapport with them. Maybe I should just ask a few important questions instead of getting their whole life story uh? I shall change my approach starting with the next person interested. Thanks for your input. I will update you.

This is my email i send to pre-screen: 

"Thank you for your interest. I prefer not to reveal the location until I have some idea about your renting qualification and seriousness, I hope you understand. If you don't mind, please answer the following questions in order to help with the pre-screening:

***Please answer for each person that will be occupying the apartment***

Name and phone number:

Why are you moving:

Credit score:

Occupations/positions:

How are you paid from your employer?: (every 2 weeks, every week, etc)

What is your monthly take home paycheck (after taxes) from full time job:

Current full time employer:

How long have you worked at your current employer:

Are you planning to or are starting a new job:

Do you have any part time jobs:

If currently renting, how long have you been at that location:

What is your current rent amount:

Have you been late for paying rent in the last 2 years: may explain if yes

Do you have references from current and previous landlords and employers:

Number of individuals that plan to be occupying this apartment:

Number of children that plan be occupying this apartment and age:

Number of vehicles that you plan to have on this property and are they registered with the DMV?:

Do you have any pets and what kind:

Have you ever been arrested:

Have you ever been convicted of a crime:

Have you ever been evicted:

If interested will you submit a rental application($35 cash) and consent to a credit and background check:

Are you able to pay 1st month rent($950) and minimum security deposit of $1050 before signing the renting contract:

When do you plan on moving in:

How long do you plan on living here if you like it:

When are you available to see the apartment(days and times):

Any other information that you would like to share about yourself or your situation:

Thank you for your time to complete this, as we accept only serious inquiries and do not wish to waste anyone's time. Also we want to be very caring for the rental property and anyone who lives here therefore hold any applicant to a high standard. You will be notified shortly after returning the completed questions and given the address and ability to view the apartment. Hope to hear from you soon.

Hello BP world. Have been following for about a year. But now have a 3 story rental property (i live in one of the units, have 2 other floors vacant) and need help from you all.

I posted my property for rent on craigslist and insist on pre-screening all those who express interest. So far I have not gotten any returns to my pre-screening questionaire. Also I do not give them my exact address. So I am a bit puzzled as to whether its because the people so far got scared off because they were in bad standing, or because they dont want to answer these questions, or if im doing something wrong.

Now in my mind, i feel safer to wait until someone does take the time to answer the questions as it will show me that they are serious and qualified.

But my question is, am I breaking any laws by only sending them the pre-screening questionaire without offering them an application or address of the property?

Looking forward to hearing from you. 

Thanks.

Hey @Aaron Santas, I am getting a roof replaced on a 3 story /family house. House built in 1935. And it is in C T. so winters can be bad sometimes here in northeast US. My question is this.. 

I need to replace the wooden shakes with all new plywood. Would I be ok with putting down 1/2 inch plywood, or would I or the house benefit from using a 5/8 inch plywood instead? Also would it be a good idea to use timberline Ultra HD shingles or stick with regular timberline hd from GA F? There is no attic, the roof is right on top of the third floor...  thinking in aspect of ice, snow, wind, and also temperature in summer and winter.

Any other tips you can give me that can help with the process?

Thanks in advance.

Dont want to bring up an old thread but i have a simple question. When hiring a roofer, if the guy tells me that he is a sole proprietor, or that there are 3 co-owners of the company, or that he hires another sole-proprietor of a company and he just signs a waiver with the city before he starts work that I (as a homeowner) will not be responsible if he injures himself...therefore he doesnt need to have workers comp.

Is this true? How can i be assured that I am protected?

First post on BP by the way :)