All Forum Posts by: Mike Oconnell

Welcome, Donald and good luck! If there is anything I can do to help, let me know. Also let me know when you have any wholesale deals to offer.

Thank you Terrence and all others who offered their great advice! I asked more questions of this particular applicant and didn't hear from him again. I am learning to "screen hard". I think you are right, I won't regret it. I don't like the loss of income due to vacancies but I suppose bad tenants can cause more problems than just the loss of a few weeks of income.

Thanks again to all!

Thanks Robert!

Great response, Russell! Thanks very much. I will get more details from the applicant.

Thank you Teresa!

Thanks Jassem!

Would you consider a tenant applicant who supposedly has great rental history, great work references, etc., but works for himself and gets paid in cash, "under the table"?

This is a red flag for me as I assume if he blatantly cheats in his business and on his taxes, etc., there is a good chance he will cheat the landlord as well.

Would this be enough for you to reject the application based on not having documented income, or would you consider him under certain circumstances?

Thank you!

Both are great to listen to and learn from. You have to decide which system, or combination of systems is right for you. It's certainly hard to argue the safety of investing debt free, but a small amount of "good debt" in order to boost profit is also hard to argue with.

It sounds like you're doing a great job with that house, Eddy! Improving neighborhoods one house at a time, that's what we do!

Welcome, David! I am an RE Broker and investor here in Fredericksburg. Hopefully we can work together soon!

Good luck!