- Jan 2, 2006
- 10,455
- 35
- 91
This is probably going to be rather long, so apologies in advance.
Roommate's name is Mike:
Mike:
If he gets kicked out, because my name is the only name on the lease at this point, I will be stuck paying double rent each month until I can find a replacement roommate, which may be tough because the school year has already started.
If you were in my shoes would you lend him this money with a Promissory Note backing it?
NOTE: A decision needs to be reached at tonight, if possible. If he needs to leave, I'll need him to leave immediately as I will need to find someone to fill his vacant lot so that I'm not stuck paying more double rents.
Concerns:
If he keeps his jobs as they are now and is able to maintain his currently level of financial gain, he will be able to pay me back and start paying for his own rent/bills/living expenses. However, it seems like his current level of employment is quite demanding and I'm uncertain if he can maintain this level.
UPDATE
Mike came back today and went directly to the main office. At this point he doesn't even know that I'm considering spotting him the money that he needs. When he came back, he starts packing up his things. He tells me that the landlord wouldn't work with him, so he turned in his key right then and there. He still doesn't know that I am considering spotting him cash. I say, "what if someone let you borrow $700?" He said that he would refuse because that is too much to owe someone and he would feel uncomfortable. He looked at me and I knew that he understood I was perhaps offering him $700. He also admitted that he wouldn't be able to pay them back for probably another few months.
Here's the kicker.
Last night while out with his girlfriend celebrating her birthday, he was really bummed out and feeling really guilty, knowing that he just couldn't come up with the money. Turns out he posted a roommate ad for me and actually managed to find someone who may take his place, because he understood that I would need to pay for his half of the rent once he gets kicked out and that it wouldn't be fair for me.
He also said that his step-mom and dad were really grateful to me for letting him borrow my bike and laptop.
UPDATE - 9/1/07
Well, he meant well, but I had him forward the roommate request reply emails to me and I am 99% certain that they are scams. Considering Mike's age and inexperience, I can certainly understand why he didn't notice this.
One person said she was from the Benin Republic (Nigeria). This in itself is not too suspect because the area where I live has a lot of international students, including a lot from African nations like Nigeria. But the entire email just smelled fishy. Too nice, weird use of English, "INTERESTED!!!!!!!!!!!!!!!!!!!!!" as the title, etc.
Another person said she was from London. I looked up her "name" and the results turned up a scam email someone posted with almost the same format and wording as the email she sent Mike.
Roommate's name is Mike:
- 1. Father is a truck driver. Currently demand for truck drivers is very low, so he has no work. Makes less than $30,000 a year.
- 2. Step-mother is a stay at home mother taking care of a 7-year-old and 17-year-old who do not get along with each other.
- 3. Family hasn't filed taxes in three years.
- 4. Family has big credit card debt. They have no credit, and any amount they earn will have to go directly towards living expenses and paying off debt.
Mike:
- 1. 18 years old, high school graduate, ~3.5GPA, doesn't drink, shy, could have gone to college on a football scholarship but his family did not have the financial standing to complete his FAFSA. So FAFSA and scholarship went bye-bye.
- 2. Plans to be a physical education major.
- 3. Fed up with his family and wants to go out on his own, hence him moving in with me.
- 4. Plans to work full time for a full year to get finances in order so that he can file as an independent during the 2008-2009 school year. Sidenote: Because he has no credit, he might not be able to get student loans when this time comes, and he has no family members with good enough credit to sign for him.
- 5. Has no credit.
- 6. Works as a telemarketer from 8:30AM-4PM, then works at a pizzeria-like place from MIDNIGHT to 4AM, 5 days a week.
- 7. He uses my bike to get to and from work. He doesn't have a bike or car.
- 8. He saved up $1500 during high school, but gave $1000+ of this to his parents to help them pay for bills and groceries.
- 9. I've know him since August 15th, when he moved in.
- 1. It took him ten minutes to move in. He has nothing.
- 2. He needed to pay the rent for August ($350) plus a security deposit ($350)
- 3. Because he has no credit, in order for him to sign the lease he has to either:
a. Get someone with credit to co-sign. His entire family doesn't have credit. Co-signing is out.
b. Pay double the rent. Pay the rent for August plus an additional $350.
- 4. He has not signed the lease yet.
- 5. He has $400.
- 6. Rent for September is due on Saturday. Another $350.
- 7. He will need to pay this much by Saturday:
$350 (August rent) + $350 (extra rent to sign lease) + $350 (September rent) = $1050
The security deposit can be postponed a few months through a special arrangement.
- 8. So he's $650 short.
If he gets kicked out, because my name is the only name on the lease at this point, I will be stuck paying double rent each month until I can find a replacement roommate, which may be tough because the school year has already started.
If you were in my shoes would you lend him this money with a Promissory Note backing it?
NOTE: A decision needs to be reached at tonight, if possible. If he needs to leave, I'll need him to leave immediately as I will need to find someone to fill his vacant lot so that I'm not stuck paying more double rents.
Concerns:
If he keeps his jobs as they are now and is able to maintain his currently level of financial gain, he will be able to pay me back and start paying for his own rent/bills/living expenses. However, it seems like his current level of employment is quite demanding and I'm uncertain if he can maintain this level.
UPDATE
Mike came back today and went directly to the main office. At this point he doesn't even know that I'm considering spotting him the money that he needs. When he came back, he starts packing up his things. He tells me that the landlord wouldn't work with him, so he turned in his key right then and there. He still doesn't know that I am considering spotting him cash. I say, "what if someone let you borrow $700?" He said that he would refuse because that is too much to owe someone and he would feel uncomfortable. He looked at me and I knew that he understood I was perhaps offering him $700. He also admitted that he wouldn't be able to pay them back for probably another few months.
Here's the kicker.
Last night while out with his girlfriend celebrating her birthday, he was really bummed out and feeling really guilty, knowing that he just couldn't come up with the money. Turns out he posted a roommate ad for me and actually managed to find someone who may take his place, because he understood that I would need to pay for his half of the rent once he gets kicked out and that it wouldn't be fair for me.
He also said that his step-mom and dad were really grateful to me for letting him borrow my bike and laptop.
UPDATE - 9/1/07
Well, he meant well, but I had him forward the roommate request reply emails to me and I am 99% certain that they are scams. Considering Mike's age and inexperience, I can certainly understand why he didn't notice this.
One person said she was from the Benin Republic (Nigeria). This in itself is not too suspect because the area where I live has a lot of international students, including a lot from African nations like Nigeria. But the entire email just smelled fishy. Too nice, weird use of English, "INTERESTED!!!!!!!!!!!!!!!!!!!!!" as the title, etc.
Another person said she was from London. I looked up her "name" and the results turned up a scam email someone posted with almost the same format and wording as the email she sent Mike.
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