Comments on: Got the Peoria home rented!!!

By: Kenric

Kenric — Tue, 09 Oct 2007 16:21:28 +0000

AI, it was real quick and there’s a long story behind the tenant. But basically, this tenant had wanted to rent the home a month ago but has no money and bad credit. So I obviously didn’t rent to her. But yesterday, I met with her parents who are the ones on the lease and will be paying the rent. So basically, her parents stepped in and rented this house for her. The parents have good credit and money. :)

By: Andres

Andres — Tue, 09 Oct 2007 16:14:22 +0000

Leave it in the MLS but ask the agent to update the listing to mention the property now has a tenant with 1 year lease in it. This is a good flag for some investors that do not want to deal with the pain of finding a renter and can’t afford an empty property.

Congratulations anyway.

By: Another Investor

Another Investor — Tue, 09 Oct 2007 13:32:50 +0000

Congratulations on renting this property! That was an awfully fast move-in for you to check references and credit – you must have been busy yesterday afternoon doing all that.

It probably won’t sell as an investment property, but no harm leaving it on the MLS. Prices will continue to drop, so you will have to have the patience and discipline to wait out the market. Keeping your financing expense low is key to holding on.

We are getting a lot of calls and showings on my property since it was put back on the rental market. No one can buy, so they are renting for now.