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All Forum Posts by: Richard S.

Richard S. has started 3 posts and replied 50 times.

Post: Looking for a credible whole seller in the South Jersey area

Richard S.Posted
  • Investor
  • Hammonton, NJ
  • Posts 58
  • Votes 17

@Joseph Fischer @Jp Kilduff  yes please add me to your south jersey buyers list. 

Post: Looking for a credible whole seller in the South Jersey area

Richard S.Posted
  • Investor
  • Hammonton, NJ
  • Posts 58
  • Votes 17

I'll second @Abe Galam and welcome any wholesalers to send me South Jersey deals. 

Abe, if you have any deals you're passing on and want to send my way, I will be happy to reciprocate. Feel free to connect with me on here.

Post: Collection Agency Recommendations - South Jersey

Richard S.Posted
  • Investor
  • Hammonton, NJ
  • Posts 58
  • Votes 17

@Matt Mahon It's been a long process, which is probably my fault. I started the process late due to not having a good lead on where to go, and then when I did sign up for RRS, I initially chose their contingency package. I read through the paperwork, and needed to redline some of the verbiage, so I crossed a couple words out, initialed and sent back.  They called me to tell me they couldn't accept ANY changes to their paperwork AND that since they weren't located in NJ, that if I wanted a contingency firm, I should use a local debt collector.    So why RRS in the end? I didn't want to continue wasting a ton of time on a tenant who may be "effectively" judgement-proof because they have no assets.  My primary goal here was to help the next landlord who tries to rent to this person see that they have a mark on their credit from not paying their rent.   

To that end, RRS has a neat little flat fee option where they simple send a letter notifying the tenant of their debt and then they push it collections. They also do a national change of address lookup to try and make sure it gets to the right place.  The very basic package is something like $16.95.  I opted for the 3 letter package and added the "Call Center" option which essentially means they are sending out 3 letters, I believe it was 15-30 days apart (whatever the legal requirement is) and then they'll report it to the credit bureaus.  From what I've seen, with the call center option added, they are actually handling phone calls for me about the debt and then adding notes to the account in my dashboard about who called in and what they said.  

Here's a link to read more about it. I know I'm starting to sound like a sales guy, I swear I don't work for them, lol, I just appreciate the fact that they're a useful (and economical) tool for marking a bad tenants credit to help future landlords in the screening process.

https://www.rentrecoveryservice.com/flat-fee-based...

Post: Collection Agency Recommendations - South Jersey

Richard S.Posted
  • Investor
  • Hammonton, NJ
  • Posts 58
  • Votes 17

@Matt Mahon I see this is your first post here on BP.. Thank you for taking the time to answer my thread and provide helpful information. I've voted for your post for the great lead.  I will definitely check them out in the mean time.  Having said that.. since this is about 2 months old, I did end up going with http://www.rentrecoveryassociates.com.  

Post: OFF MARKET - 600 UNITS - NEW JERSEY

Richard S.Posted
  • Investor
  • Hammonton, NJ
  • Posts 58
  • Votes 17

Hi, please send me more information about the properties in hammonton. I invest in this area. Email in signature.

Post: Collection Agency Recommendations - South Jersey

Richard S.Posted
  • Investor
  • Hammonton, NJ
  • Posts 58
  • Votes 17

@Christopher Renda sure PM me. 

@Account Closed this has not been true in my personal experience. From what I understand, a civil judgment is not necessary for you to inform the credit bureaus of someone owing you money as long as you have bills to prove it. I have a warrant of removal for non-payment from landlord-tenant court, I think that will be enough. 

Post: Collection Agency Recommendations - South Jersey

Richard S.Posted
  • Investor
  • Hammonton, NJ
  • Posts 58
  • Votes 17

@Karl Dowden Thanks Karl! I will look into it! 

Post: Collection Agency Recommendations - South Jersey

Richard S.Posted
  • Investor
  • Hammonton, NJ
  • Posts 58
  • Votes 17

@Judy Parker how you choose to operate your business is up to you. This isn't emotional. It's business. The tenant passed my screening process and then decided to not pay in spite of gainful employment, refused a cash for keys option to leave, and stayed until the day before the sheriff was scheduled to come out.  This isn't my first rodeo, and I don't need the learning experience, or to "let go" of a $3,000 debt. At minimum, it's getting attached to the tenant's credit so that the next landlord who screens them has some indication of their willingness to pay.  If I'd had the luxury of seeing this person was a deadbeat tenant before screening them, this would have been avoided.

Call what I'm doing a public service for future landlords. Or call it "emotions".  I am glad that you have the luxury of allowing tenants to steal $3,000 from you and calling it "a lousy $3,000", but not all of us look at it that way. If someone mugged you on the street for $3,000, I am sure you wouldn't feel the same way, and I don't look at it any differently.  It's landlords like you who "let it go" that cause future landlords to get jammed up when bad tenants pass the screening process due to lazy landlording.    

As for your tip -- we already have a 5 day grace period, and file shortly after if the tenant has made it clear they will not pay. Assuming you are a New Jersey landlord, you know that the eviction process is quite time consuming, between getting everything filed and then waiting on a court date, finding out your court date is a month away, then showing up and hoping you win the judgement on day 1 without the tenant causing any further issues (like another court day).  The reason this debt is high is because the eviction process, followed by the warrant of removal, took a long time. 

Post: Collection Agency Recommendations - South Jersey

Richard S.Posted
  • Investor
  • Hammonton, NJ
  • Posts 58
  • Votes 17

@Joe Martella Their website would suggest they only operate in New York.  How has your experience been with them on a New Jersey tenant, and can you share any information about their fee structure?

@Christopher Stover Yes I was looking into them and Rent Recovery Services which is also owned by them it seems. It looks like the quickest and most efficient way to report them and have a slight chance of collecting.  

Post: Looking for cash buyers in the south jersey area

Richard S.Posted
  • Investor
  • Hammonton, NJ
  • Posts 58
  • Votes 17

Anthony,

I'm a cash buyer and I only buy in South Jersey.

Please feel free to add me. Contact details in signature.