Interesting scenario. I am on my 2nd SFH investment property. I have a guy who wants to do a 'Rent To Own' on this property. I'm asking for a $5,000 non refundable option payment. He'll be able to get $3,000-$4,000 by the end of the month. He's willing to work with me to get the rest of it.

Interesting part:

The guy got in trouble for stealing copper from a construction site. He got burglery and conspiriacy to burglerize. He was on probation for this. He then got in a dispute with his girlfriend (in a house several doors down from this house), she called the cops and he got domestic charges placed against him (work with me, I don't have specific details). He then went to prison for one year, his house down the street went into foreclosure. He is now out of prison, working to become an electrician.

He makes $1000/week and could pay the $1200/month payment.

Should I tell the guy to fill out an application? Or is he wasting his time. The reason I'm asking is because I feel like there may be some Landlord liability issues leasing a property to a felon. These are the guys we want to screen out right? But money talks... So, I'm in a predicament. What would you guys do regarding this situation?

Apparently he's getting drug tested 5 times per month by the state. So... I'm not sure if this is a good thing or not. Assuming he doesn't have drugs in his past, why would they be testing for drugs... Maybe there is more to this story. Grounds for denying a rental application. he says he does have personal references.

Sounds like a real winner. Please send him to me. Just kidding.

This sounds bad in so many ways.

1st if he is short on cash he could well steal copper from your house after all it is "his" since he has an option right?

Not a big fan of options either.

2nd he really has had two encounters with the law which would also discourage me from him.

So many criminals get so many opportunities from the legal system before they get a felony you have to know this guy has a pattern of behavior. I doubt our legal system has reformed him.

3rd he has drug issues or the state wouldn't be testing him.

Bottom line is that NO WAY I would trust this person with thousands of dollars of real estate.

Oh, the headaches I got just reading your post and thinking of what this person could do to you and your life.

Oh, the headaches I got just reading your post and thinking of what this person could do to you and your life.

Oh, the headaches I got just reading your post and thinking of what this person could do to you and your life.

I will consider very distant non-violent felonies. But this guy does not meet that requirement by a long shot.

- John...

It takes a lot of offsetting strengths to make a convict look good on paper.

He appears to be a sneak thief, vs break n' enter, axe murderer, rapist, or other assualt related criminal. That's good.

The fact that he wants a SFH is good, the $5,000 non-refundable option money is good, his $4,000 a month income is good, learning a skilled trade is good. None of these other guys are gonna lure him away from you, that could be good.

RUN and RUN FAST! I'm not kidding. My guts are sounding the 5 star alarms loudly. He maybe sizing up your property for copper pipe renovation whether you enter a "deal" with him or not.

Jon,

I considered renting to a felon when I was new at this landlording thing. Due to my very bad experiences with this person, and the advice I've read on this message board, I will no longer even consider renting to felons. You should ESPECIALLY not rent to a felon who is good at telling stories.

Rent to someone who doesn't have stories for why you should work with them. You're just begging for drama and unnecessary headaches otherwise.

"He's willing to work with me to get the rest of it."

Typo? "He's willing to work me to get the rest of it."

you shore it isnt my last tenant

or the three befor him

How many places did he rob before he got cought? Getting cought stealing copper is actually quite rare, alot of people get away and a few get away without anybody even knowing (those are the really bad thiefs to have around). Prior to copper prices spiking, most or all thefts were unnotised but now people are too "greedy", take too much and in a sloppy manor and it gets seen.

I dont know about CO but in WI if you are getting tested 5X a month, you are BIG TIME. Once a month random is more common (meaning max of once a month IF your number comes up).

Working in the trades is a good sign unless he did that prior to his troubled past. If he was a sparky before, I wouldnt risk it but if this is new for him, the decient money could keep his nose clean, tough call though.

As for having no money now, at best I would rent without the option to buy till later and tell him if he dont have the money now thats fine, he gets first crack later. Milk him for a year then rent to own it to him, thats IF you want to take the risk of even renting to him...

Let's see. He was convicted for vandalizing his fellow man's property. Obviously devoid of conscience about that "Thou shalt not steal" thing. What could be next?

Looking around for my 10 foot pole..

"He appears to be a sneak thief, vs break n' enter, axe murderer, rapist, or other assualt related criminal. "

Thank you for your feedback. I'm going to take him!!!

I know how to pick locks. Doesn't mean that I steal. heh.

- John...