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7 October 2024 | 35 replies
This company is a scam (now doing business as Poplar Homes) doing the absolute bare minimum to keep collecting fees.
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2 October 2024 | 6 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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2 October 2024 | 8 replies
Owning only 1 & being realitivly cash poor is risky.As for door knocking as a way to collect rent.
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9 October 2024 | 312 replies
These borrowers who, in reality, could not actually afford these mortgages and were not financially literate were crushed under the weight of all the debt and forced to file for bankruptcy, while the mortgage brokers and banks collected their fees.
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27 September 2024 | 2 replies
We are on the minimum plan with four rentals and don't see the value in paying $180 a year to collect rents, payout rents more than a week later, and screen tenants when we have turnover.
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7 October 2024 | 34 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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4 October 2024 | 13 replies
If the PM is unable/unwilling to collect from the tenant, demand they compensate you for allowing the expense to occur.
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4 October 2024 | 17 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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14 October 2024 | 420 replies
Since he collects so much from "training fees" he can probably handle a few Due on Sales being called, But Can You?
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30 September 2024 | 4 replies
We collect payments from property owners and distribute them each month.