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All Forum Posts by: Michael Rossi

Michael Rossi has started 45 posts and replied 4385 times.

Post: When to give up the 9-5 job?

Michael RossiPosted
  • Real Estate Investor
  • Ohio
  • Posts 4,583
  • Votes 1,171

I agree with Jon that the "Just Over Broke" is guru nonsense! Many people with good jobs like what they do and make very good money.

However, I would also say that there is no comparison between having a job and being self-employed - especially in the rental property business. I'm just about to start my 8th year in this business and I can tell you that working 12-16 hours a week beats having a job any day! Better yet, I get to pick when I work and when I don't. I love it!

Post: Month to month vs. 12 month lease

Michael RossiPosted
  • Real Estate Investor
  • Ohio
  • Posts 4,583
  • Votes 1,171

If I knew which tenants were going to be good or bad, I would lock in the good tenants for as long as possible, and more importantly - I WOULDN'T TAKE THE BAD TENANTS. C'mon guys - it's IMPOSSIBLE to KNOW whether a tenant (and the scum they allow to move in with them) will be good or bad. If that were possible, you would never have a bad tenant - and we all know that's not possible.

Month to month - that's the only way I do it.

Post: tv shows

Michael RossiPosted
  • Real Estate Investor
  • Ohio
  • Posts 4,583
  • Votes 1,171

I am in the rental property business in the REAL WORLD. The last thing in this world I want to do is watch some fake on tv.

Post: Tenant screening - timing and tool of choice?

Michael RossiPosted
  • Real Estate Investor
  • Ohio
  • Posts 4,583
  • Votes 1,171


If they live in another county, then I pull up that county's website and do a quick screening on there. If the county doesn't have a website with court records available to the public, then I'll show then the property and do the normal screening (as I do with every tenant) after they fill out the application.



Same answer - I just google the state and county court and look them up. It's not that hard. If they don't have a website, you can call the appropriate court or the local police and usually get your answer.



The two most important screening checks I do are the criminal background and eviction checks - which are typically found on the same websites (same county databases).



I follow the same procedure for each tenant also. I screen them on the phone. If they pass that, I meet them at the property. Assuming that they look and act good enough for me to show them the unit, I then have them fill out an application and then do a thorough screening (full criminal background check, eviction check, previous landlords, employment, etc, etc, etc). As soon as I find something I don't like, I stop and write in big letters across the top of their application "REJECTED" and the reason. For example, I might write "REJECTED - CRIMINAL"; "REJECTED - EVICTION"; or "REJECTED - LIAR".

The phone screening has gotten me a couple of calls from the Fair Housing Office. In the latest incident, the local Fair Housing Officer called to inquire about a woman that I refused to rent to. It was clear on the phone that the woman was a minority. I got her name and did a quick check of court records like I always do. I found that she had been evicted more than 7 years ago, which would not automatically disqualify her since I don't take anyone that's been evicted in the past 7 years. However, I discovered that another person's name was also on the eviction record. I inquired as to who that was and it was her son. I checked her son and found that he had a LENGTHY CRIMINAL RECORD including being a drug scum. I told her that we didn't rent to druggies and that I wouldn't rent to her because of his record. She insisted that he wouldn't be living with her and I thought she was lying. I've seen that show before!!!

When the Fair Housing Officer called me, I told her the story and re-iterated that I didn't rent to druggies! I further told her that I didn't believe the woman's story about her son not living with her and that I don't allow druggies on my property!

It is NOT illegal; immoral; or improper to reject someone because they're a druggie. It is not illegal to deny someone because you think they're a liar; because they have inappropriate tattoes; because they dress like a gang-banger, etc. I have no tolerance for druggies, criminals, liars, gang-banger wannabes, or other scumbags and won't rent to them.

That's the end of the story. Everything I did was legal and proper. I knew that Fair Housing couldn't possibly pursue a fair housing claim against me because I don't discriminate for any of the prohibited reasons. In fact, if they had wanted to claim that I didn't rent to this woman because of her race, I would have taken the local Section 8 Chief with me to the hearing and she could explain how I've gone out of my way to place minority tenants for them (Section 8 contacted me for help) when the tenants were in a bad situation (but still met my screening). I would also have taken along a few of my minority tenants and they could tell the Fair Housing person that I don't have a racist bone in my body.



I got into the rental business so that I wouldn't have to sit in an office!!! The only office I have has four wheels and says "F-150" on the tailgate.

Post: What would you do?

Michael RossiPosted
  • Real Estate Investor
  • Ohio
  • Posts 4,583
  • Votes 1,171

How much does this place rent for? If it is a typical low or lower-middle income rental, then I would suggest to the owner that it is CRAZY to provide either air conditioning or a washer/dryer in such a rental for the obvious reason! Let the tenants provide window air conditioners and their own washer/dryer.

The Glock 22 takes a .40 caliber round (16 rounds). It's the gun that a lot of police/government agencies use.

Post: Tenant screening - timing and tool of choice?

Michael RossiPosted
  • Real Estate Investor
  • Ohio
  • Posts 4,583
  • Votes 1,171

I start the screening on the phone! I don't want to waste time showing a rental to someone who can't pass my screening. So, I ask them who all will live there. Then, I tell them that I thoroughly screen everyone that will live there and I don't take anyone that has been evicted in the past 7 years; I don't take anyone that has a felony; I don't take anyone that has more than 2 misdemeanors in the past 3 years; or anyone that has any illegal drugs on their record in the past 7 years. If they tell me they will pass and I'm near my computer, I'll ask their names and do a quick check on the county court website. That takes about 15 seconds and gives me a very good preliminary indication as to whether the tenant is ok or not. If they make it this far, then I'll show them the rental and subsequently do a complete screening.

Bryan,

Yes, I carry. In fact, I never go anywhere without my Glock 22. I carry my wallet; cellphone; and wear my seatbelt - why wouldn't I have my handgun? Furthermore, we have a God-given RIGHT to carry a handgun. A right not exercised is a right lost!

It is absolutely foolish to think that you only go places that are safe. I live in a VERY safe area and yet there is still crime. Several local banks have been robbed this year at gun point. The owner of a local gas station was shot during a robbery. I don't know about you, but I'm not lying on the floor in a bank or gas station at the command of some scumbag with a gun so that he has control over whether I live or die.

If I knew when I was going to be in an accident, I wouldn't need to wear my seatbelt. If I knew when some scumbag was going to attack me, I wouldn't need a gun. Since I don't know either, I ALWAYS wear my seatbelt and I ALWAYS carry my Glock!

As to the issue of carrying to your rentals - ABSOLUTELY! As a landlord, I have dealt with MANY SCUMBAGS, druggies, and criminals. Some I have evicted and made homeless. Some I have refused to rent to. Some I have had arrested, etc, etc, etc. One was a convicted felon that stalked me after I witnessed an attempted murder! Do I carry my gun - YOU BET I DO!

Post: Mistakes in Eviction Report?

Michael RossiPosted
  • Real Estate Investor
  • Ohio
  • Posts 4,583
  • Votes 1,171

No? You're not going to last long renting in the hood if you can't think a little more logically than this!

Think this through!!! Your eviction report shows that this guy was evicted at a certain address. He admits that he lived at this address for 2 months, but was never on the lease. What does that tell you??? C'mon now, this isn't that hard!

Post: Mistakes in Eviction Report?

Michael RossiPosted
  • Real Estate Investor
  • Ohio
  • Posts 4,583
  • Votes 1,171

So, let me get this straight! This guy has FIVE evictions on his record and you're considering renting to him! I can't believe that ANY landlord could be that gullible!!!

He has confirmed that he lived at one of the places where he was evicted! Four other evictions had to be filed on this deadbeat to get him to either pay or leave!

Wake up!