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Do you trust your gut feeling? - Landlord Forum thread 358785








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Do you trust your gut feeling? by jhcumm@aol.com on December 2, 2018 @12:18

                              
How many times have you read that you must follow accepted guidelines taught in classes by experts that don't own property? They go on to warn landlords not to follow your gut. For thirty five years and twenty five rentals I have had my share of mistakes and wins and my initial gut feeling about someone is right more often than not. My wife and partner seconds this unorthodox method. I still check ref's and do due diligence, but I trust my gut.
Read a free preview of "Landlord" where I share my method to acquiring rentals and living 100% off rental income. http://a.co/8t5ozXc
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Re: Do you trust your gut feeling? by LAMAC66 on December 3, 2018 @07:55 [ Reply ]
I read it too. I follow the general guidelines in addition to following my gut as my gut feeling has been wrong on occasion.

For example if you are showing a property and your gut tells you this is not a good fit, not a good idea to not give out an application.

More than likely something in the application process will disqualify them. Just give them the application and go from there.

I have been in the business a relatively short time, 11y years, and have learned a lot through various seminars, books, blogs, and personal experience.

When I rented out my first place, I approved the first person that qualified although there was a better qualified person who's application i reviewed right after the first person.

Low and behold that first person I approved I regret to this day that I did. Why did I approve them? Because most "experts" say approving the first qualified will help you avoid a discrimination lawsuit.

I don't do that ANYMORE. I choose the BEST qualified. That is why you have to have your qualifying criteria in writing and on display everychance you get.

I let it be known on the application, advertising, and website. I let it be know that I take the BEST qualified vs. the 1st qualified and to factor that into YOUR decision to apply.

Thats my .02 cents.

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