Tenant Screening and Selection Aid For The Frugal Investor!
Every year thousands of folks venture into the real estate business with dreams of fortunes and huge real estate portfolio's bouncing around inside their head. Let's face it we have all seen the Donald Trump's of the world turn millions upon millions with real estate and we think we are due some of the pie. And why not? There are lots of real estate deals to be had in every market of every day in every business climate.
As you know buy / hold is one real estate investing strategy. This is where the investor buys a property, fixes it to whatever level he or her deems suitable and then rents the property to someone for a monthly rate. This is a great strategy and can afford you lots of wealth over the years but you must get the management side of this strategy down for it do aid in your growth. Some investors hire property managers to do the management side of their business but I personally do not recommend this. To be brief a couple of reasons I avoid this is some property managers can be very charming all the while siphoning money from you on every turn. Another is this is a skill with just a little time, elbow grease, and some research you can do on your very own.
The biggest thing about managing your properties is going to be tenant selection. There are numerous free tenant screening services on the web and most have one thing in common. They really aren't free. They offer "free to sign up" and then get you on a per search fee. To top it off your city, county or state may not even be reporting information from civil proceedings up to date. Civil will always take a backseat to criminal as well it should. This however is a problem for you the Wiley investor.
Once site that is worth noting is The Underground Landlord. This site uses member input to in essence review previous tenants. By simply searching the information given to you by a prospective tenant you will get any past landlords that have had bad dealings with this person if they too use the system. Think of this as a version of Landlord Facebook. You are connected to other landlords not by similar interest nor by random searches but by similar and common tenants. Now by the use of the WWW we are able to use one another past experiences to aid each and every one of us in the future. Make sure to visit www.UndergroundLandlord.com now and let all your other landlord friends to do the same. As we each take part and do our part to prevent damaging and non paying tenants we all grow as we go.
As you know buy / hold is one real estate investing strategy. This is where the investor buys a property, fixes it to whatever level he or her deems suitable and then rents the property to someone for a monthly rate. This is a great strategy and can afford you lots of wealth over the years but you must get the management side of this strategy down for it do aid in your growth. Some investors hire property managers to do the management side of their business but I personally do not recommend this. To be brief a couple of reasons I avoid this is some property managers can be very charming all the while siphoning money from you on every turn. Another is this is a skill with just a little time, elbow grease, and some research you can do on your very own.
The biggest thing about managing your properties is going to be tenant selection. There are numerous free tenant screening services on the web and most have one thing in common. They really aren't free. They offer "free to sign up" and then get you on a per search fee. To top it off your city, county or state may not even be reporting information from civil proceedings up to date. Civil will always take a backseat to criminal as well it should. This however is a problem for you the Wiley investor.
Once site that is worth noting is The Underground Landlord. This site uses member input to in essence review previous tenants. By simply searching the information given to you by a prospective tenant you will get any past landlords that have had bad dealings with this person if they too use the system. Think of this as a version of Landlord Facebook. You are connected to other landlords not by similar interest nor by random searches but by similar and common tenants. Now by the use of the WWW we are able to use one another past experiences to aid each and every one of us in the future. Make sure to visit www.UndergroundLandlord.com now and let all your other landlord friends to do the same. As we each take part and do our part to prevent damaging and non paying tenants we all grow as we go.
Our Mission
We are seeking to equal the playing field between landlords and tenants. The laws favor the tenant in many states. We are setting up a platform to protect the landlords from professional tenants. We are not seeking to harm the average working class American but rather quite the opposite. To bring responsibility back to tenants who rent homes and wish to destroy them for no fault of the landlord. There are some degenerates who take advantage of the system and it's time for it to stop. Our system will help landlords now fall prey to the one sided events. Sign up now!