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7 October 2024 | 8 replies
There are so many mom & pops who do manual rent collection, and whose goal is to stay at 100% physically occupied!
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6 October 2024 | 9 replies
What the law says is often more of a last resort than a first option initially when there is a dispute because enforcing your rights in court and collecting afterwards can be costly and difficult. 2.
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8 October 2024 | 4 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.
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7 October 2024 | 3 replies
Our property manager mentioned that they cannot collect rental income for one property and divide it between multiple SSNs.Here’s their suggestion: "They are operating a business, and the IRS considers it a partnership.
8 October 2024 | 8 replies
You can deduct that from their security deposit, send to collections or sue them.
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7 October 2024 | 3 replies
Set Up Automatic Rent PaymentsGone are the days of collecting rent checks.
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7 October 2024 | 4 replies
Most S8 tenants have a history of bad decisions, often having convictions, evictions, bankruptcies, chargeoffs, collections, garnishments, etc.
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11 October 2024 | 17 replies
So, while this information is important to collect and consider, you can't fully rely on these metrics to tell the full story.
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7 October 2024 | 12 replies
A collective approach could put more pressure on the syndicators and make legal action more feasible if it comes to that.Unfortunately, these situations can be complex, and getting your investment back may take time and effort.
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7 October 2024 | 3 replies
Collect three rents on a mortgage.