June 24, 2008
Finding A Good Renter
Lets just say that you did all your research and you decided that a second home/investment property was the best way to go. One way to help pay the mortgage is to find someone who is looking to rent a home.
Typically people that are looking to rent homes either do not have good enough credit to apply for a home mortgage or they can not afford to get a home on there own. These types of people sometimes are the not the easiest to work with!
I speak from experience when I say this! For example my fiancé’s brother bought the home next door to our home for investment purposes and he decided to help with the cost he would find some good renters. Well I personally saw him shuffle through tons of different people to rent to. At the end of the day there was just no one that fit the bill.
A great way to find a good renter is to ask close friends and family members if they know of anyone who is looking to rent a home. If you or someone close to you knows the person you have a lot better chances of that person working out. My fiancé’s brother finally ended up asking our great uncle if he wanted to move in and rent the space because he was currently very unhappy at an apartment.
Well it all worked out for him! Next time you are in the same position always remember that people know people that know people…..