All Forum Posts by: Edward Mccracken

WOW! This has to be the best post I have ever read on here… Let me add in my two cents before I ask for ever ones advice… I’m just going to addressing some of the interesting issues on here randomly.

I will summarize one of my processes, prescreening. Another one I think I mastered is screening without running a credit report, that will take me a day to talk about.

I only advertise online. Someone sees my listing on Zillow or wherever, great, I get an email saying First and last name is interested in this address.  @Kimberly H. and I have an amazing online docket database where I then copy and paste their name. It’s also just as important to search their name as the plaintiff to see their lawsuit history, you might be next :). If I see any evictions, I go on to the next person. I usually see a lot of small claims stuff on there from credit, car, medical companies, bankruptcies (which is a whole other topic) which doesn’t bother me. I deal only in lower income areas.  Now, if they have a common name, then they automatically go to the next step, phone interview, because lots of lawsuits will come up. I have to go through the phone screening process with me. Some questions: Why are you moving, what don’t you like about your house, How is your landlord, How much are you paying in rent, How do you pay rent and some others. Then on to my requirements to move in to my place income verification, proof of rent paid, home visit (I do this half the time but I want them to think I will do it). I love when they ask me if that’s legal. I tell them yes because I don’t rent to dirty people. Dirty people are not cover for Fair housing. This then determines if they get setup for a showing. I can go on from here but by asking a series of questions like this before you waste your time setting up a showing and it also might scare the deadbeats away but I’m sure the professional tenant would still proceed, which is fine with me.

Doing this has saved me tons of time. I highly recommend everyone prescreens. I also have a questionnaire on my website that is linked to my ads that I place online, that NO ONE fills out! Drives me nuts!

I’m working on going paperless. I like having hard copies of things, though. I just met an older guy that was telling me how awesome evernote was. I wanted to sign up for it a while ago but never was motivated until this old guy told me how awesome it was. So I’m working on getting that set up.

@Chris Bingham it sounds like you are doing a ton of tracking. I like it, but it just seems like a lot.

My tracking mileage process, Mile IQ. Its is the best thing ever! I tried the other way for years, never worked.  I think I paid $60 for the year. Well worth it. It pays for itself promise.

I am getting fed up with $5 per month for this, that, and everything else but I guess I’m cutting out wasted time on automating things so it is saving me a great deal of money on the back end.

For payments, I have all my tenants deposit money at the local US Bank. I tell them to write their name and address on the bottom of the deposit slip. This has been a huge time saver. I don’t want them to mail it. I also take chase quickpay. I rarely pick up checks.

@Kimberly H.

@Steven Anderson I love your process of tracking.  

@Julie Marquez start practicing on going paperless behind your dads back lol... It will take time to get down.  

@Shannon Sadik you are on a different planet than Aaron and I.  Over here, is months before the sheriff will come to the home and kick them out and that's if you get decent judge.  The judge usually doesn't give immediate possession, lets say 2 weeks.  After the two week is up, you take the possession paper downtown, its a half day event.  Then get in this long line of evictions that need to be done.  Depending on the time of the year it can take 3 months for them to get out there, which would make cash for keys a powerful tool.  

@Aaron Mikottis Since you asked for my option :) I hate the concept but I would do what ever it takes to get them out.  Think about if you were receiving the end product of the cash for keys situation.  You get this piece of garbage that their landlord PAID them money to move out because they were bums.  You don't think they would do the same to you?  I would be furious.  

I never had a to do a cash for keys yet, but if the situation did happen.  I would add the cash into their final balance and then place that as a collections on their credit for $7.95.  So if a potential landlord did run their credit, this would show.  Then the next year give them a 1099-c debt forgiveness that is then taxed as income and you know they aren't going to claim it.  

I have somewhat of a solution for you that just pertains to your Rochester county issue.  First of all, I completely agree with about going to the court house, paying $35 for a parking space, trying to locate where to go, finding an open computer, and then trying to figure out a dos based program that the normal functions on a keyboard doesn't navigate you through the program like it would on any other program.  We have similar issues.  I had to go to my local court house three times.  What I did was look for somebody who knew what they were doing.  So then I started asking them questions.  I found a person who claimed she lived at the court house always looking up records.  I told her what I do and then I asked, "Can I just pay you and then you send me the report back on what you find?  How much would you charge me, since you are always here?"  I put the ball in their court to tell me how much they want.  Usually, its reasonable.  Now before you decided what you would pay for it, think about trying to make it to the court house in time before they close, pay $35 for parking, wait for a computer and then try to figure out how to use it.  That right there, made my shirt tight and my skin green thinking about the time wasted.  The lady I met wants $10, which I'm more than happy to pay. I just quick pay her the money. 

Now somebody might complain and say what happens if they committed a crime somewhere else.  Opp's someone got passed me then, sorry.  I will take my chances because of my other checks that I have in place.  Chances are they got caught committing crimes in multiple city's including the one they want to live in.  

That's kind of why I made this post was because these sites have to have access to data bases somehow, that I want access to.  I just need to figure out how they get it.  

Another one of your issues of, "these data bases that you are searching is not always accurate."  You have to think about the professional tenant, changing the spelling of their names, maiden names, middle names for last names.  When you pay a company they are only searching the name associated with the social security number.  You can also blame the landlord also for this.  When I file an eviction, I use their middle initial and I also add in aka (as known as)  I feel obligate to publish accurate information these types of people.  

I have always wondered how people with multiple properties do this.  I just have a few different bank accounts at different banks for multiple properties.  Then for the properties I have in a corporations  have their own account.  Just make sure you keep good records.  

Last Friday I had a fire in one of my condos.  10 out of the 12 units are inhabitable.  I was lucky enough to be one of the two that are inhabitable because I had a fire proof door. I guess everybody else had wood doors.  The red cross put my renter in a hotel for the weekend.  The association is not letting anybody in the condo.  They said the company who they hired to clean up everything will determine when my renter can go it, which they are not telling anybody anything.  Since the red cross is done paying for his hotel who is responible?  I would think the renters insurnace would be respoinble, right?   So should I take care of the hotel bill and then seek reimbursement from the person who started the fires insurance compnay?  Or do I tell my renter, "Sorry you should have had renters insurance!"

Frank and Scott are right.  I have successfully evicted a good amount of tenants and messed up a couple times, where I did have to start over.  Because of that, now I possess the skill of knowing most of what a tenant friendly judge could throw out my case, I usually hire an attorney now.  

I have done my own evictions under my own LLC, but you're asking for trouble, depending on the judge. I got lucky.

Let me ask you.... I spoke on the phone with the Buildium people and they were telling me how good their accounting end of the site works, they were pretty much telling me that I could get rid of quickbooks.  For the people that are using Buildium, do you use it to keep track of your accounting also?  I just hired a book keeper at the beginning of the year and been working with them a good amount.  If I did get set up with buildium, would it be pointless to keep and or maintain quickbooks? 

Dang....  Thats alot buy is a small price to pay for being ahead of the game.   I would offer them the same if I had to.  I tell them they must do 3 things in order to get the money.  

1.  Be available

2. Say something nice about  the house

3.  Say something nice about me :)

I had one tenant that was convinced that he earned interest on the security deposit.  After I learned that nothing was going to change his mind.  I asked him, "What percentage interest do you want then?"  He told me 2% and then I asked for his forwarding address, which he refused to do.  Then he gave me "his lawyers" address.   I sent his lawyer the bill with pictures and then placed a collection on his social security number.  Never heard back from him.  Weird...

Tell them it usually only takes you a couple of days to get everything back but from what you are saying, NOTHING will change their mind about wanting it back the day they move out.  Their mind is set on they are entitled to it back right away, even though its on their lease.  You are exactly right about Illinois law and how tenants get it confused with Chicago.  I put 60 days on mine but it never takes that long.  

Explain to them if you get the place rented out while they are still in there then it shouldn't be problem getting it back to them asap.  I would start making repairs, scheduling showings and make them show the property and tell them you will give them an additional $100 back if they rent to someone.  I get the shakes when I think of a vacancy.  There are a lot more instructions you have tell them with that.  Right now you have the carrot on the stick.  Start using it!