Reply to Palisades: Safeway is closing

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[quote=Anonymous]It has nothing to do with the project being flipped.

If you owned a rental condo and you had two choices for a tenant, which one would you choose.

1.  Tenant #1 has never rented before, is new to the area, has no verifiable source of income other than some cash in his bank account, as well as his new job and the rent is right at his max budget.  He also wants your help paying for some new carpet and hardwood that he wants.  The other people in the building like him because he plays the guitar and makes a mean beef stew on the weekends.

2.  Tenant #3 has a long rental history, has been at the same job for 10 years and makes 100 times what it costs to rent the place.  He will also pay you some money to help you finish off the place the way he likes it.  the other tenants could care less about this guy - he isn't that exciting

Keep in mind, you have a mortgage on the property and any rent you get is intended to cover the mortgage.  You have one or two month's extra saved up just in case, but that's it.

You are now a developer.  Choose.[/quote]

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