Would you rent an apartment to a trader

Quote from bearmountain:

Thank you all for your replies. Regarding the real estate aspect of my post, unfortunatly New York City housing laws seem to favor the tenant. It takes many months and considerable amount of effort to get one evicted.

Other aspects would be the general uncertainty of our chosen profession. Setting up LLC etc aside. Most retail traders are one trade away from financial calamity. Being short crude oil when Iran decides to nuke Saudi Arabia or long stock index futures when the great California earth quake finally happens. and countless other black swans.

One other issue with traders, our livelihood tends to effect those around us. the consequences seem to spill over in other areas of our lives. I mean this trader's decision to sell their home to raise a trading stake, even though he is not profitable, doesn't seem all that prudent.
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Why not stop posting here for a bit and go and do your job - researching your potential tenants? What's the couple's credit score, what are their past reference, how big a trading stake does the guy have, etc etc? Get some bank statements. Don't be yet another lazy bum half-assed amateur landlord, the world has enough of them already.

Look it's pretty simple, either he is flush with cash or he isn't. If he has a 5k piker account then forget it. If he has 200k in his account then you can rent to him. If in between, then compare it to other tenants you are likely to attract in the near future.
 
Quote from peilthetraveler:

In 2005 I had to pay 6 months rent in advance (plus deposit) to get someone to rent me a house. That was in Arizona back when I was trading at Bright. When I moved to California, I was told I couldnt rent without a stable job, even when I offered to pay the entire 1 year lease up front in cash. I seriously think people who rent properties in CA are idiots that they would rent to someone living paycheck to paycheck, but wont rent to someone when they know they are guaranteed the entire lease for 1 year with proven money in the bank.

Oh thats another thing that is annoying in CA. If you are NOT living paycheck to paycheck and you have plenty of savings in the bank, many people think you are a drug dealer. Like only drug dealers have money! Idiots.
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Just wear a nice suit and shoes, and bring a few grand in cash for the deposit, past landlord references, and a bank statement showing a healthy balance. Anyone who won't rent to you after that is an idiot who you don't want to depend on for your accommodation anyway.

Remember, 80% of landlords you don't want to rent from. They will be slow to repair things, the property will be in poor condition, they will repay the deposit late etc. Just live in a motel until you find a good property with a good landlord, it's just like looking for a good stock at a good price, you have to turn down 9 out of 10. Also, never pay 6 months let alone 1 year up-front, that gives them no incentive to provide a good service. Not getting their rent check is the one piece of leverage a tenant has to keep a landlord doing their job properly.
 
Quote from peilthetraveler:

In 2005 I had to pay 6 months rent in advance (plus deposit) to get someone to rent me a house. That was in Arizona back when I was trading at Bright. When I moved to California, I was told I couldnt rent without a stable job, even when I offered to pay the entire 1 year lease up front in cash. I seriously think people who rent properties in CA are idiots that they would rent to someone living paycheck to paycheck, but wont rent to someone when they know they are guaranteed the entire lease for 1 year with proven money in the bank.

Oh thats another thing that is annoying in CA. If you are NOT living paycheck to paycheck and you have plenty of savings in the bank, many people think you are a drug dealer. Like only drug dealers have money! Idiots.
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I experienced the same problem. I had to put up 6 months long with disclosing all my liquid net worth in order to convince the property management company I wasn't some derelict. Incredibly frustrating!

With everything else assaulting our psyche as a trader, the last thing you want to hear is someone on social assistance is better qualified for housing than yourself.

That type of stress factor -- no doubt has an impact on trading!
 
OP idk where you are but in NYC my wife & I paid for our own credit checks, paid 1/2 broker fee and first, last & two months security. Deposits weren't an issue but if they were we could have chosen to live elsewhere.

Renting to a trader? What do you care... They sold their condo, she is obv. into him trading and even if they had to take a loss on the condo they free'd up some cash flow to fund his losses. People don't do things like that without thinking about their payments... Also... pot, meet kettle - how long did you say you have been unsuccessfully trading for and you are trying to scrutinize someone else? Give a guy a break.
 
Quote from LeeD:

RCG Trader, you are offering an original take on this. So, the morale is mortgages, credit cards and home ownership are all ways to get people to buy into the society structure...



What word should have been there instead of "piel"? I must have had too much sleep thsi week-end: can't guess.
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Talk to an ET member peilthetraveler,

And yes, that is exactly what I was saying.

1. Sexualize the young people. Condition females asap (Disney, nick teen)

2. Encourage immediate gratification, which encourages debt.

3. Once into debt, the rest is a fait accompli.

Traders break that up, so since they are not "gainfully employed" it makes things more difficult.

Did you know that bad credits is better than no credit? I found this out first hand.

Paying cash in full is discouraged in this societal structure. It is bad for the workfarm. You might not take certain conditions and walk away from your job.
 
Quote from RCG Trader:

Paying cash in full is discouraged in this societal structure. It is bad for the workfarm. You might not take certain conditions and walk away from your job.
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Do you mean offering stock incentives to the majority of the worforse is not exactly "sharing" wealth?
 
Quote from LeeD:

Do you mean offering stock incentives to the majority of the worforse is not exactly "sharing" wealth?
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Wealth, in my opinion, is the exclusive province of it's creator. So I do not believe, in "sharing" wealth in any sense other being able to help a company or individual by sharing a percentage of your own wealth.

But this is the province of administrators in society. Workers do not get stock options, as far as I know.
 
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