All Forum Posts by: Priyanka K.

@Dave Turner completely agree!! 

@Thomas S. what do you mean by 'to protect yourself'? protect from what and how will a M2M lease protect me? Will it not give them a better option to move out?

Anyone can ask to term a lease early, not just out of town renters. I have one that I met in person and are now asking to terminate the lease 4 months early as their personal circumstances have changed.

@Alvin Sylvain

aw, you are so sweet! No, it will not be anyone's fault if anything at all goes wrong!! 

Hoping for the best and yes, i'll post updates!! :)

Thank you all with the input! …interesting point of views! I know I was hesitant about signing the lease without meeting the tenant and without they seeing the house as I have never done that before but there is always a first time. In this day and age, a lot of work is now possible virtually and I do not want to miss a fair chance of helping a genuine person. Of course, there are scams and we need to do additional checks to be sure.

To be clear – it is not the scam that sends extra money. If it were a scam, they would not have applied and paid for background and credit check ($40). I carefully reviewed the reports, verified address on DL with reports and public records, talked to references and future employer. I will get security deposit through cozy which is the standard portal I use for local tenants as well.

I have been in touch with the prospective tenant, talked and texted multiple times and found absolutely no holes in all the conversations and all the checks. 

I have to agree with @Alvin Sylvain, being out of state should not disqualify anyone! 

I am going to sign the lease and will post updates here!

Thank you all again for your inputs!!

@Sonu Sharma

A few outlets around 35 and 635 Harry Hines Blvd. They advertise on Craigslist as well. Will send addresses tomorrow.

@Chris Clothier, I listed on MLS, I am a realtor as well and it syndicates over to multiple websites - zillow, realtor, trulia etc...

Yes, I think I just priced it right per the ISD and other houses available for rent and yes, I agree, there are not many available in this neighborhood! They say their new job is in this area. I had many pictures and sent additional pictures to them through email.

Thanks for your input!!

I have two applicants for a SFR. Ironically booth are from Seattle and claim they are moving to Dallas for new jobs. They don't have the offer letters but have provided contacts to verify the new job offer. Their background and credit checks have come clean. I did reference checks and they look good! They also provided copy of driver's license. One is a military veteran.

They are willing to sign the lease and pay security (mail check or paypal). I am a bit hesitant in leasing to tenants without meeting them! Have you heard of any scams? Why would anyone sign a lase without looking at the property?

What additional checks should I do, if any?

@Matt K. @Thomas S.

Thanks so much for the great idea on month to month!

I will also check on the details of bankruptcy and other details on employment, rental history and credit scores!

@Greg Dickerson 

Thanks for your input! Would you recommend an LLC?

Can you recommend any attorney. I am in Dallas, TX.

thanks!!

Hello folks!

I am working on forming partnership with someone on a flip project. Looking for the best way to go about it-

- Is it better to form an LLC or work under our individual names?

- Is there a standard partnership agreement/contract available that covers all the points?

thanks for your help!

priyanka