Ron Adamic
Tenant changed jobs, do you verify employment again?
I have a tenant that only paid half of the rent that was due two weeks ago who is normally on time, and when we discussed it they said it's because they just started a new job. I had to double check but I don't have a...
Mary Jay
What questions do you ask your tenant aplicants?
What questions are you asking prospective tenants?Here is my list.Please add what else you guys are asking.How many people in your family?---income-Longevity at job-Are you laid off currently or fur lowed?-Renting now...
Yoav Schatzberg
How to review a P&L
Hi all,I'm reviewing a P&L for a 7 unit building, and I've got a couple of (basic) questions:1. What am I looking for in here? Other than actual NOI and Expenses, what should I be considering?2. Are there any ot...
Lisa Monroe
Do Banks Call To Verify EMD
Hello Everyone,
I have read that some people copy a check to send in with their offer. Do listing agents or the bank call the buyer's bank to verify the amount on the check is in the account?
I was reading where a ...
Patti Robertson
Totally Made Up Pay Stubs - Be Careful Out There!
This past weekend we had two different applications for two different properties that had one thing in common. Both applicants submitted totally fake W-2s. You can’t just rely on automated screenings. You really need...
Account Closed
Is it ok to ask a potential tenant for 1 or 2 yrs tax returns to verify income?
About to screen a tenant for a rental. In addition to asking for their credit report, employment & rental history and contacts, can I also ask them for 1 or 2 years tax returns to verify income?
Sharon R.
Virtual Closing comfortable and safe?
When you do million dollars deals and closing is done virtually (which one side picked as part of their terms and that firm normally does their closing online) how comfortable are you? I may be paranoid but it really ...
Jerry LoCoco
1930's Single Family Renovation/Due Diligence
I'm looking at a single family home built in the 1930s that will require a significant rehab (HVAC, Plumbing, Electric, framing, drywall, new kitchen, new bathrooms etc). The listing is off the MLS and closing wil...
Elliott S.
verifying p&l, returns, for evaluating a triplex purchase.
What documents do you ask for to verify the income, expense, vacancy, etc. of a triplex rental property? Are there notarized, certified documents you can ask for?
I'm looking at a triplex, listed about 125k, tax val...
Vincent V.
Private Money Borrower Information
Hi everyone,I'm new to "Private Money Lending" and I have some ideas of information to collect from the borrower for it but I'd like to know what information you as experienced Private Money Lender collect. I apprecia...