All Forum Posts by: Adam Johnson

I have recently began reading the book "Profit First" and it sounds great, at its foundation. What are your experiences, both positive and negative?

Dang, I was hoping for a more positive response. You both are right and that is what I've heard from many investors. You make your money during the screening process. The lesson learned is not to take on unnecessary risk. We've learned the hard way that it is better to have a property sit vacant than to feel pressured and fill it with an unqualified tenant.

@Javier Perez I'm not sure if it state specific as far as not being able to represent your business in court. Typically, a person can represent themselves. However, you can't represent someone else with out a law license. In our case, the business is a separate entity. Therefore we don't have a license to practice law and defend a separate entity. 

@Syed Firoz you have to subtract the SD from the total that the tenants owes you. That's what the SD is for. So if the total lost wages and repair cost is 7k but you have a SD of 1k, then the judgment should be for 6k plus attorney fees.

Hi everyone, We currently have many rentals in the Clarksville, TN. area and for the most part, great tenants. However, over the past 2 years we've had to evict 4 tenants. In all cases, we were awarded judgement by the County judge, however we have yet to receive a penny from the previous tenants. Who have you used as a collections agency? How have you been able to recoup the money? Any advice would be greatly appreciated.

@James Syed we found out the hard way that we couldn't represent ourselves as a corporation. Talk about wasted time and money.

@Robert Biggerstaff that's exactly what we do. Clearly the higher the credit score criteria, the less of a pool to pull from. We charge a double deposit up front for credit score below 600.

@Karam A Tascoe congrats!