All Forum Posts by: Jonathan Blanco

Within my 20 years of experience managing rentals, I’ve had to deal with both collections and evictions plenty of times. For debt collection, we’ve had good results using Hunter Warfield—they’re pretty effective and know the rental space well.

For evictions, I usually recommend a law firm that specializes in landlord-tenant issues, and I also know a low-cost service that helps with filings (they’re not lawyers, though). If you want the names or more info, feel free to inbox me—happy to share!

– Jorge

What state is your rental property in?

 you did not get their social when you gave them a lease or do any background or credit check on them?

 they are state specific but any debtors attorney can do the eviction as can most property managers. I would tell you 9/10x its not worth spending the $ to get it collected as most renters do not have it. What we have done is 1099 them the amount owed so then they have to pay taxes on it as if its income.Its a nice going away present as if you cannot collect uncle sam will.

What really matters is how long you think you will have this loan.  If you are borrowing $150k, rates will not likely drop enough for you to justify a refinance due to lower rates. If you are borrowing $800k, rates will likely drop enough for you to refinance in the next 2 to 3 years. 

So, what is your loan size? How long do you intend to keep the property? Would you rather set it and forget it and not need to refi again or rather take advantage of low/no closing costs on this loan and plan to be more aggressive on your rate at the time of your refi?

This question never has a "best" answer, only best for your situation!

 You and I both know, nothing is free in life. You are paying for it with a higher rate. OR you are paying for it with a failed promise. 

No fees = higher rates. It all evens out.