All Forum Posts by: Konrad R.

How do you tell prospective tenants that you are not going to accept them? Do you give details on why you are denying them?

The most recent application I had came back with a clean criminal history. I then checked court records and found a misdemeanor that led to significant jail time due to probation violations. The credit check didn't come back either due to insufficient data. I used zillow as the application.

Do I mention the criminal records I found or just keep it a simple denial? If you have an example of what you say, that would be much appreciated.

 I met both of them during the tour. The father is retired and would live there alone.

The parent is the only person that will be renting there. Do I ask both the son and father to apply even though the son will not be living there? Should they both be on the lease, or do I need to setup some type of guarantor?

I'm from the Orlando area. Do you have a recommendation on insurance agent?

What can I use the EIDL funds for?

Have you guys seen this? Look at the letter this landlord sent to his tenants.

Landlord Threatens Cutting Cable, Quick Evictions for Late Rent

In one county I want to bid in, it says a 5 percent deposit is due after bidding and the full amount is due later that day. Do you guys just have a certified check ready for 5 percent of your maximum bid? I'm assuming they wouldn't have an issue with you paying more than 5 percent. Then you would leave to get the rest of the funds and come back.

I plan on bidding on a property next week. I just want to make sure I've been doing my due diligence properly. Here are the steps I took:

-Read through the complaint and checked the promissory note and mortgage attached to it

-I looked up the property owners through the property appraisers website. I tracked it back to confirm the last title transfer occurred at the same time the mortgage was established. It is a special warranty deed. I checked the previous title holder and it looks like it was an REO. The last warranty deed was issued to the person that was foreclosed on. This occurred over 10 years ago.

-I then checked public records for all parties on the deed. I did not find any liens or second mortgages. I only found the one mortgage.

Is there anything else I need to check? I'm serious about purchasing this home, so I will be in a fair offer at the auction. Is it worth it to have a title company do a search? with insurance or without?

It appears that the heirs of the property will benefit the most. The remaining balance after the judgment was satisfied for the second mortgage was sent to them. I'm assuming they will be sent a check for the first mortgage as well. Both bids came in higher than the final judgments for the foreclosure cases.

The second highest bidder on the second mortgage auction owns a duplex down the street from one of my rental properties. I thought he was experienced with foreclosures. He owns around 11 or more properties. I bet he doesn't even realize he dodged a bullet on that one.