Episode Details

(Watch the YouTube video of this episode here)

In this episode, we explore the detailed process of tenant screening, emphasizing the importance of early-stage defense in investing. We discuss valuable lessons from our first tenants, and share our 'Solid Screening Method,' an acronym for systematic, objective, lawful, interested, and discerning tenant selection. Learn how our process helps identify responsible tenants, ensuring better property management and investment success.

Download The SOLID Screening Method

// Timestamps

• 00:00 Welcome & Personal Update
• 01:25 Transitioning to Tenant Screening Discussion
• 03:17 Learning from Bad Tenants
• 04:41 Introducing the SOLID Screening Method
• 10:41 Criteria and Process for Effective Tenant Screening
• 16:01 Navigating Tenant Qualifications and Alternatives
• 20:43 Comprehensive Tenant Screening and Verification Process
• 25:58 Reflecting on Past Tenant Screening Experiences

// Key Lessons

1. Early-stage defense in investing: Avoid getting into tricky situations by focusing on strong initial tenant screening, just like a jujitsu practitioner avoids dangerous holds.
2. Systematic and objective: Follow a systematic and objective tenant screening process to avoid legal issues and ensure fairness.
3. Understand the law: Make sure your screening criteria comply with all federal, state, and local laws, especially anti-discrimination regulations.
4. Be genuinely interested: Show interest in your potential tenants’ stories to understand them better and make more informed decisions.
5. Balance compassion and caution: While it’s important to give applicants the benefit of the doubt, ensure your decisions are based on solid verification.
6. Flexible yet firm: Be willing to make accommodations, like allowing cosigners, if the applicant shows potential despite minor shortcomings.

// Let's build your wealth and improve housing, together.

I'm James Furlo. I live in Oregon, where I help people invest in real estate passively. Over the last 14 years, I've purchased over $4 million in real estate, and I’m excited to give you the opportunity to partner with us and experience the joy of building wealth while improving housing.

Access private investment opportunities, exclusive market updates, principles for passively investing in syndications, and behind-the-scenes insights. https://furlo.com/

// Disclaimer

Please note that investing in private placement securities entails a high degree of risk, including illiquidity of the investment and loss of principal. Please refer to the subscription agreement for a discussion of risk factors.