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All Forum Posts by: Akshay Vig

Akshay Vig has started 2 posts and replied 12 times.

Post: Finding the current address of a previous tenant?

Akshay VigPosted
  • Investor
  • Buffalo, NY
  • Posts 12
  • Votes 7
Quote from @Nathan Gesner:

You can hire a skip tracer, but locating them is the easy part. Actually collecting money from them is the difficult part.

Collection agencies charge high fees because it's not easy to collect money and they need to get paid for what they do.


 Yes, so I've heard! Going to go the skip tracing route but keep collections agencies open if the need arises.

Post: Finding the current address of a previous tenant?

Akshay VigPosted
  • Investor
  • Buffalo, NY
  • Posts 12
  • Votes 7
Quote from @Jeff Copeland:

A skip tracer and/or private investigator handles these types of requests. 

Though I'm curious what you intend to do with the address if you're not referring them to collections. 

A word of warning about trying to collect your own debts: You become a debt collector yourself and you are subject to consumer debt collection practices laws in most states (and I believe there is a corresponding federal law). 

I was sued once because a tenant invited me (in writing, via text) to her workplace (citing transportation issues) to pick up a rent check. She didn't even have the rent check, and she then sued me for unfair debt collection practices for coming to her workplace! 

The case was completely frivolous and went nowhere (in fact, my E&O insurance carrier countersued the tenant for the legal fees and she ended up with a new collection on her record).

But it still cost me $10,000 (my E&O deductible) in legal fees, and probably a hundred hours of wasted time. 


Skip tracing did not even cross my mind, thanks Jeff! My attorney who represented me for the court case against the tenant had informed me that we needed their current address before we can proceed to collecting the debt. With heir address, he will be able to serve them and get them to come into his office to obtain further information from them (i.e banking information, current employment, etc). As we were granted a money judgment from the court, we can then proceed to garnishing their wages or obtaining funds from their bank.

But thanks for the heads up by sharing your story! Definitely need to be careful while going about this to not end up with any more legal fees!

Post: Finding the current address of a previous tenant?

Akshay VigPosted
  • Investor
  • Buffalo, NY
  • Posts 12
  • Votes 7

Hey all,

Anyway to find the current address of an evicted tenant without resorting to collections agencies? They owe me several months worth of back rent and even fooled the court during the hearing by providing the address of my property where they were previously living. I want to avoid handing the case over to collections due to the high fees and cut they would be taking upon receiving the funds. Any suggestions?

Thanks!

Post: Where to invest in Texas?

Akshay VigPosted
  • Investor
  • Buffalo, NY
  • Posts 12
  • Votes 7

@Jason Hirko I did not know about USAA, Valero and the tech companies! Very interesting. I see that you're a lender? Going to dm you...let's chat about financing

Post: Where to invest in Texas?

Akshay VigPosted
  • Investor
  • Buffalo, NY
  • Posts 12
  • Votes 7

@Paul Blair Sounds like a more mature, seasoned market. The stability of higher class tenants is second to none and a very smart way to hedge and diversify one's portfolio. I'd have to crunch some numbers and see if I can make it work though. Over $250k is going to be a stretch for where I'm at currently

Post: Where to invest in Texas?

Akshay VigPosted
  • Investor
  • Buffalo, NY
  • Posts 12
  • Votes 7

@Paul Blair Yeah that's what I noticed. How's the tourism there? Also, with higher prices compared to Houston and San Antonio, would you say Dallas as a whole attracts more A-B class tenants?

Post: Where to invest in Texas?

Akshay VigPosted
  • Investor
  • Buffalo, NY
  • Posts 12
  • Votes 7

@Jason Hirko Sounds like an opportunity to jump in! With Austin prices already super high (compared to the rest of the State) + somewhat of a remote work environment, it's possible that a migration towards San Antonio will start to pick up for more blue collar, price sensitive tenants looking for cheaper housing . What do you think?

Post: Where to invest in Texas?

Akshay VigPosted
  • Investor
  • Buffalo, NY
  • Posts 12
  • Votes 7

@Trampas Tanklage That's the sentiment I'm getting!

Post: Where to invest in Texas?

Akshay VigPosted
  • Investor
  • Buffalo, NY
  • Posts 12
  • Votes 7

@Victor Steffen Correct. I'm more around the Buffalo Area (Lackawanna and South Towns). Surprised you're familiar with Jamestown!

Post: Where to invest in Texas?

Akshay VigPosted
  • Investor
  • Buffalo, NY
  • Posts 12
  • Votes 7

@Bruce Lynn I've been eying North Texas, but have been struggling to find something within my price range. Will look in those areas to see if I can find something suitable

And good point on STRs, definitely something to consider.

Thanks!