All Forum Posts by: Stephanie W.

Hi all, 

I've stumbled upon three different companies that deal in reporting anything payment related to the credit bureaus. I'm not sure which route to go as they all preach a solid service. Who would like to prevent non payment? And or collect what's owed to them? The obvious advantage to signing up with these services are. 

For Property Managers

- Attract and reward responsible residents.

- Reporting also discourages late and skipped payments by reporting those as well.

- Reduce delinquency, evictions and collections.

For Residents

- A way for residents to build credit history.

- Pay lower interest rates with improved credit standing.

- Help your residents build credit by reporting their on-time payments to the major credit bureaus

My question is, who here has signed up and dealt with these? Credhub, The Credit App, Rent Recovery Service are the few that I've found. Honest opinions of any as to their effectiveness or value is appreciated. We're a smallish company with less than 30 doors looking to create more revenue and reduce business expenses and headaches. These sound like a much needed avenue to our industry. 

GREAT!! What time and where???

@Thomas S. folks have to assume you read and understood the post when we reply back to you as I did.

@Greg 

@Thomas S. there are many hundreds of us doing those "terrible deals" as you call them and making a fine living at it. I transferred my buy and hold single family home business to the mobile home space and am a much happier camper. Maybe it's not for YOU, but passing your prejudices along to new folks might not be the best way to respond. Insurance and taxes on a MH are negligible, and if one sells the property on a note, maintenance isn't an issue either. Vacancies are part of the package, but when they're buying rather than renting, it's much less of an issue. Rather than telling someone it's a "terrible idea", maybe just mentioning the caveats would be a more positive way to respond. Just my two cents.

Let's say I'm non-exempt and non-compliant. When would my non-compliance become an issue? When the buyer defaults and we have to go to court? Isn't that the only time any of this becomes pertinent? If not, then when else? What else would trigger scrutiny of the non-compliance?

@Donna Adamek it is Registered Mortgage Loan Originator. They take the risk for loan originations in regards to fed  and state lending regs.

For whatever reason, one cannot edit the times of an event once its been posted... the time of the meetup will be at 6:45, not 6:30pm. Thanks!

Roanoke Real Estate Mastermind Group on Facebook

We have secured the 2016 President of Roanoke Valley Association of Realtors to speak to us at our next meetup. She has been gathering statistics about the real estate market in the valley since the crash and is willing to share her data with us. Please mark your calendars for March 23rd, 6:45 pm at the Grandin Road CoLab, Conference Room B for this important presentation about our local market and how its dynamics can affect your business. You will be surprised at many of her findings.

Roanoke Real Estate Mastermind Group on Facebook Ask to become a member!

We have a local real estate investors meetup coming up at the Roanoke CoLab later in March. The President of the Roanoke Valley Association of Realtors is speaking. Message me for details. Hope you can join us!

I'm confused. EMD refundable or non-refundable? This says both, as I read it.