Isn’t it time you learned how to capitalize on one of the best markets for real estate investing that this country has ever seen? With the recent flood of foreclosures now is the time to learn to invest correctly in real estate from the hosts of the nation’s leading show on real estate investing, Judson and Lynn Voss. Visit http://www.yourrealestatefortunes.com and learn for free, the no-hype truth about choosing the right real estate investing strategy to start making you money, today.
You’ve had your open house for that available lease rental property and you’ve gotten 3 or 4 good applications from people interested in leasing that property. Now, how do you choose the right tenant for your property?
Know What Kind of Tenants You are Attracting
One thing to understand with lease purchases in real estate investment is that you are dealing with potential lessees who can’t quite get into a home mortgage. Many will have bad credit, lost jobs or even lost a house in the past. So, you’ll want to look out for people who have just turned a corner financially. They’ll have a good rental period for say the last 6 months. They have a regular job and even though they may have bad credit, you’ll be able to see that they are taking care of the important things like student loan payments and car payments.
It’s okay if they’ve had problems making mortgage payments in the past as long as it’s far enough in the past that you can see the potential lessee is making an effort to improve their financial position.
Are They Going to Buy?
You may also wish to inquire with each applicant to see how certain they feel about purchasing the property eventually. In leasing property, you can just lease out the property until it falls apart if that’s what the tenant wants to do, but every lease agreement includes the option for the tenant to buy the property whenever they wish. So, if you have a potential tenant who really wants to own the property they are leasing from you, you’ll have a higher chance of selling that property for a nice profit in a few years.
The Gut Check
Another thing to keep in mind is the simple gut feeling. You may just have a good feeling about a certain candidate for the lease property. This person may not have as good a looking application as the next potential lessee, but you feel fairly certain that he or she will work harder to make sure payments are consistent and on time with the property. Ask yourself if you want to risk the time and effort involved in working with each applicant for the lease rental. A good old-fashioned gut check works wonders when deciding between two equally good candidates.
- Related Videos
- Related Articles
- Ask / Related Q&A
- Secure Your Property By Regular Mortgage Payments
- The No Chance For Foreclosure Method to Calculate a Mortgage Payment
- Lowering Your Monthly Mortgage Payments
- Should You Buy Mortgage Payment Protection From Your Lender?
- How To Choose A Good Investment Property Mortgage
- Investment Property Mortgage Rate: Some Key Considerations To Note
- Mortgage Payment Calculator - Find The Best One
- UK Mortgage Payment Calculator For An Informed Decision
We buy houses in Lilburn Georgia fast , so you can sell fast
By: Earl Hider | 07/12/2009Has that home in Lilburn Georgia that You want to sell fast gotten to be an albatross I know the feeling, because years ago I was transfered to Florida from Ohio and spent many months of sleepless nights before I found an investor who helped me out
We buy houses in Lilburn and Snellville fast, so you can sell fast
By: Earl Hider | 07/12/2009Are you frustrated that you can't sell your Lilburn home? Are you about ready to hire a Realtor?? Or, has your home been listed on the market for close to a year without an offer?I have a friend who has had her home listed for 8 months, for the same price she bought the house for four
Owner Financed homes on waterfront property for less than $200k
By: Earl Hider | 07/12/2009One of the best kept secrets in the Atlanta Area is a cozy private lake located at the corner of Gwinnett, DeKalb and Rockdale Counties. This lovely, tree lined lake covers 96 acres
Property For Sale French Alps
By: Sandy Lee | 07/12/2009Considering all your financial options If your dream is to buy a property in the French Alps whether it's to migrate to or just simply for a holiday, even in today's economic climate, you should look at the choices you have for purchasing your ski apartment or chalet. A property for sale...
Pricing Your Home to Sell
By: Lokesh | 07/12/2009One of the necessary steps to selling your house is to offer the price at which you want to sell the same. This is known as the listing price and it’s important to get this price right in case you want an early closure to your selling transaction. While it is generally accepted principle that a new property gets listed through the MLS channel finds maximum interest within the first 2-3 weeks and it is in this period that one should hope and ensure that the sale process gets concluded.
Tenants Rights and Some Things That You Should Know about Them
By: marco | 07/12/2009As a renter, state and local statutes usually provide you with rights that the landlord must observe. Many courts have determined that this clause works both ways and your landlord will have to pay your legal fees if you win. If you feel that you have been a victim of discrimination, then a good place to turn to is HUD or the Department of Housing and Urban Development.
Finding Good Condominium Prices
By: Leon Belenky | 07/12/2009Living in the Miami area oftentimes brings about visions of an oceanfront home. Unfortunately, many of these properties are out of the price range of most people. There are areas, however, which are affordable and which still offer the proximity to the ocean desired by many individuals who make the decision to move to Florida. Among those communities, Hollywood, Florida, is one of the most popular.
Getting an Oceanfront View
By: Leon Belenky | 07/12/2009One of the most attractive things about purchasing property in Florida is the fact that oceanfront views are available from so many different locations. At the height of the real estate bubble, this meant that oceanfront properties were often very expensive and well out of the range of most buyers. Today, the situation is a bit different and even less-than-affluent individuals may be able to find a deal on an oceanfront property that will represent a huge move upwards in lifestyle.
Three Reasons Why Now is the Best Time to Invest in Real Estate
By: Judson Voss | 02/04/2009 | Real EstateYou can’t turn your t.v. on today without seeing some type of bad news about the real estate market so making the bold statement that now is the best time to invest in real estate in the last 15 years might seem a little crazy. The fact is today IS the best time and those that take advantage of it will be setting themselves up for amazing profits in the future.
Building Up a Network in Real Estate Investment
By: Judson Voss | 10/04/2008 | Real EstateNetworks help out real estate investors a lot by plugging them into good property deals. It’s very easy to build your own network when you are just starting out as an investor.
The Art of Negotiation in a Short Sale
By: Judson Voss | 10/04/2008 | Real EstateYou can’t just approach the bank with your best offer and expect to close the deal. You need to persuade them to accept the short sale first with a little negotiation.
Is Renting Smart?
By: Judson Voss | 10/04/2008 | Real EstateEvery now and then a real estate investor will think about becoming a landlord. Is it worth it?
How to Get Those Lease Tenants
By: Judson Voss | 08/04/2008 | Real EstateYou’ve got a property available for lease, but aren’t sure how to find the tenants to get into the lease property. It’s not too hard as long as you have the local newspaper!
How to Pick the Tenant for Your Lease Rental Property
By: Judson Voss | 08/04/2008 | Real EstatePicking out the perfect lease tenant for your lease property is a cinch if you know what to look for. Someone who is turning a corner financially is always best.
Undesirable Property in Post-foreclosure Can be Your Most Profitable Sale
By: Judson Voss | 08/04/2008 | Real EstateThere are all kinds of deals to be made in the real estate business. Three deals in particular on the least desirable properties can bring you profits.
Can You Get Good Discounts on Properties Out West?
By: Judson Voss | 08/04/2008 | Real EstateYou can make money real estate investing in a high-priced area. All it takes is a little more effort and a willingness to hold onto property until it appreciates.