It’s fantastic to hear you have such extensive experience in the market—especially since you’ve been helping others navigate it since 2009.

Just trying to make sure it isn't called due right away or in the middle of the term as then we'd be scrambling to figure out how to pay it off when we both agreed to be on a payment plan until the balloon payment at the end is due.Seller finance makes sense in where I'd essentially be the lender collecting monthly payments until due.

That said I tried to make a more extensive (yet not complicated) website on word press and it was a nightmare.

If you have any accounting questions, please feel free to reach out as I have extensive experience working with foreign nationals in the US.

Next you want to form an LLC that will serve as the management company for your LLC and perform duties including rent collections and sign all contracts on behalf of the business.

Hello Cherilyn,I think you have a couple of options, the good news is that they are paying you, the better news is that you are collecting late fees.1.

Like many (most) small business owners especially in this high interest rate environment, we have to use make extensive use of our personal credit rather than using extremely expensive business credit.

So, we obtaina full credit report and review collections, chargeoffs, age of credit accounts, active accounts, etc.to build an overall credit evaluation.FICO ScorePct of PopulationDefault Probability800 or more13.00%1.00%750-79927.00%1.00%700-74918.00%4.40%650-69915.00%8.90%600-64912.00%15.80%550-5998.00%22.50%500-5495.00%28.40%Less than 4992.00%41.00%Source: Fair Isaac CompanyPublic RecordsWe also obtain data from national databases about evictions, convictions and sex-offender histories.

If you collected an insurance claim you would only be able to collect your out of pocket (ie deductible).

(Say 60% LTV) Do you have enough reserves to go after the collection of this debt if they stop paying?