All Forum Posts by: Rod Jones

On what grounds are you denying all Indian applicants?

What if a white person ends up cooking curry in your unit?

I hate the smell of curry and smoke, but on what grounds do you deny them... look through their application and find some other "reason" to deny?

Curry has nothing to do with race, nationality, color etc...it has everything to do with the original question of this topic "tenants that cook with curry". If the landlord feels or is experiencing a lost of money or business behind it then the landlord needs to come up with a way to circumvent it from happening again in the future.

The only way I foresee to avoid or minimize the same problem happening again is by coming up with a different method of screening and interviewing process to make a better "judgemental decision" when choosing who you want deciding the future value of your investment. If the landlord is adamant about circumventing offensive, foul, disruptive and etc... odors, not renting to thugs/felons, sex offenders, and any other "preferences" is by being more active and thorough in screening which can be as legally intensive as he/she wishes although they will be walking that thin line! I'm already assuming if you are a self-managing landlord then you are familiar with state & federal laws pertaining to illegal interviewing questions and practices, so with that being said, you establish a process that will help you and not hurt you. And lastly, as we all should already know, when treading the legalities of Real Estate you always would want to consult an attorney to make sure your are staying withing legal bounds, but for the sake of this post, my statements are meant to give perspective.

@Steve Babiak

Not at all! If I detect you are going to be a liability or detriment to my asset no matter your nationality then I'm not going to rent to you! Everybody money spends but all money is not good money!

If you are in the rental business for the investment of your money looking to make more money than you must make a business decision when screening your tenants! It's no different than companies and corporations performing background and credit checks to determine the risk of hiring a new employee to further protect the owners/shareholders investments/money. If you, the landlord feel that those odors are going to cost you money and potential tenants now and in the long run, then you must decide and take that into consideration doing your screening process. Nothing racist, unethical, or in-moral about that, you're just an very conscious and protective business person! I work for a very successful indian couple who's net worth is well over $10MM and the very first time I talked to him about real estate investments, the 2nd thing that came out his mouth was he never do business with his own people because of the curry smell! And I'm being polite on his actual words! Ultimately, its your decision, profit & losses!

Can I add value to a SFR rental the same as MFH using its NOI, ROI, and etc...or rather have an appraiser/bank use income valuing (hope im saying this correctly) to come up with a higher value to force equity/appreciation with the main goal of cashing out through re-finaning?

One last question, can I add value to a SFR rental the same as MFH using its NOI, ROI, and etc...or rather have have an appraiser/bank use income valuing (hope im saying this correctly) to come up with a higher value to force equity/appreciation? I hope you guys understand what I'm trying to do.

Very Very helpful! Thanks a lot Ron.

How do you value a fire damaged 4 unit multi-family property in order to make an offer?

@Shaun Reilly, I love how you just broke it down for everybody to use as a starting point for each budget level...Marketing is the lifeblood of ALL businesses in my eyes. @Will Barnard, "just do something is a perfect theme...Money Motivation 101

Thanks a million @Zach Scharr and @Ibrahim S. Those pieces of information definately clarified alot for me and hopefully others. Motivation 101...

Stephen, thats awesome and motivational! Alot of newbies to any type of business venture have cold feet because of the not knowing and stories like yours are definately an asset to the newcomer's confidence! Thanks alot!