I’m going to be investing in some Lease Option and Sub 2 deals and I was concerned with screening tenant buyers. I know there are services out there, but I don’t want to pay an arm and a leg. I understand that it may be worth my while, due to the fact that it would be helping me out in the long run, but aren’t there any free resources or methods out there that would produce the same end result. I want to screen a lot of tenant buyers, so where can I go to do that…
So you want a professional level screening service, provided at no cost to you? Please, if you find a company that does this, and does it for free, share it here. Thank you.
If you do not want to pay the money to screen the tenants yourself you should charge the tenants a application fee for the total amount of the background check that way theres no money coming out of your pocket. You can also make money off of the application fee by charging a little more.
As part of the screening process, some people even have the TB provide a recent credit report! They’re about $30 from truecredit.com. That includes the report and scores from the 3 bureaus. That shows a TB is motivated to buy if they’re willing to bring that in.