Akshay Monga
Automating Deal Analysis: Programmatically Pulling MLS Data & Rating Property Conditi
2 January 2025 | 0 replies
I currently assign these scores manually, but it’s tedious and limits how quickly I can evaluate opportunities.Ideally, I’d like to:•Automate the collection of MLS/Zillow data.
Marc Shin
Dishwasher, clothes washer, Clothes Dryer
27 November 2024 | 10 replies
Quote from @Michael Baum: Hey @Marc Shin, short answer, yes.A couple will want to wash some clothes if there are there more than a couple of days.
Elizabeth L.
Has anyone had a successful tenant eviction in Union City NJ?
14 January 2025 | 5 replies
If it's a verbal tenancy, you have to show a practice of collecting rent that the tenant is no longer abiding by (or perhaps tenant shows up, and honestly states they were obligated to pay rent and haven't done so).When the eviction case is submitted, you give the tenants names, e-mail, phone, address.
Andres Lasaga
Promissory Note Management
25 December 2024 | 3 replies
Quote from @Andres Lasaga: I am in the process of selling a property to the tenant I have been renting the house for 4 years.I want to outsource the promissory note collections and reportsIt would be only ONE property, for now, any recommendation of a company that can manage the collections and reporting?
Damon Albers
tenants breaking leases and excessive damage make it hard to be profitable
5 January 2025 | 39 replies
I agree with you on not being able to collect on judgements.
Natasha Rooney
Multifamily Properties in Indianapolis
17 January 2025 | 13 replies
Also, focus on 2 years of job/income stability.Class D Properties:Cashflow vs Appreciation: Typically, all cashflow with little, maybe even negative, relative rent & value appreciationVacancy Est: 20%+ should be used to cover nonpayment, evictions & damages.Tenant Pool: majority will have FICO scores under 560 (almost 30% probability of default), little to no good tradelines, lots of collections & chargeoffs, recent evictions.
Janine Sharma
1099 or W2 for onsite MHP property manager?
12 January 2025 | 7 replies
If your manager is just 'keeping an eye' on things, collecting/reminding on a few rents here and there and some light cleanup while being compensated in free or reduced space rent then classifying them as 1099 subcontractor is great.
Anjali L.
SSN for tenant
4 January 2025 | 6 replies
You should only need the SSN or license if you are hiring a collections company.
Godsheritage Adeoye
How to takeover Subject to loan
3 January 2025 | 7 replies
There are actually THREE kinds of subject to transactions1- subject to existing mortgage without lender approval2- subject to existing mortgage WITH lender approval3- subject to existing mortgage as part of a seller financed wrap around mortgage.with #1 and #3 it’s in everyone’s interest to utilize a third party servicer, who collects and then distributes payments.
Allende Hernandez
Do you run screening in all the potential tenants?
11 January 2025 | 15 replies
And what if the one person you didn't check has a criminal background, has collections, and more?