I am not talking about just going to court.I am talking about 3 day notice to quit,filing eviction,court date in the mail,going to court if tenants answers and getting judgement and writ,then paying writ fee and waiting for the marshal to set up throwing the stuff out.These time lines and processes will vary by state.In some areas the marshalls are backed up serving the writs.So if it takes 2 months to get them out and the writ takes a month then it will be 3 months of lost rent.4 if you get them out mid month unless you can land someone living in a hotel or moving to the area mid month.Then you would only lose 3 1/2 months.You also have to factor in time to turn the place and clean it and rent it out again.The fact you accepted a reduced rent will make it hard to get an eviction in court.Accepting a partial rent usually means you are doing a workout with the tenant.So for instance of I can get a majority of the rent I might do a workout.If the tenant wants me to stop eviction for 100 dollars I tell them to pound sand. :)What you do will also depend on your personal cash flow situation.Are you trying to preserve personal credit and do you have a recourse loan on this property??

How do you go about collecting a judgement for unpaid rent?

This is my first rental and my judgement just isn't that developed yet.

The most important thing on the seller's mind is likely a potential deficiency judgement and/or the tax liability of the short sale.

The 75% formula is only used when there is no tax returns for the property being reviewed if you have only 1 year tax return its a 12 month average or 75% gross - PITIA (up to underwriter/judgement call/grey area) but generally its the one year return / 12 months.

They don't have the money to pay it, and I would have to go to court and get a judgement against them, which I might never be able to collect on.Would it be smart to tell them the 2 month penalty is waived but they will still have to forfeit the security deposit if they break the lease?

He did that and one time somebody at the local 7-11 convenience store told him that every time it rained heavily, it flooded some of the lower apartments.

They pretty much all have judgements against them?

Okay........Have a tenant that I filed eviction on.The county was backed up so took awhile on the writ.Marshall is serving the eviction the 21st of November after 3 months from filing court date.The woman became disabled and filed for SSI disability.I talked to her case worker and the usual time for review is 2 years to get approved or denied.She told them she was getting evicted and sent evidence.They escalated and marked file for review.When I discussed with case worker even though file is flagged it still has to go through the judge for review which takes 2 to 4 weeks and then if approved SSI will send me the landlord the back rent owed which is around 4,000 with late fees and penalties.So the answer from SSI will not be in time before the eviction.I already told the tenant today I need at least half 2,000 or I am not stopping the marshall from evicting on the 21st.The lady says she would call me back and says she might could get the money but the issue is she can't pay me because when she goes for review for SSI they will ask where she got the money to pay rent.Then she could lose benefits or amount of lifetime benefits going forward and will not risk the lifetime benefit.She said if I just waited I am on the forms to get paid when she gets approved.My thing is If I cancel the marshall then I have to refile eviction and with the Holidays it will be January or February before I get them out.I told the lady I was not stopping it for a 600 payment and that she is not guaranteed SSI approval and I can't stop it on a PROMISE.We will see what she does.I told her to pay by Sunday.If I get 2 grand now it will be one less unit I have to rehab and then if SSI doesn't come through with the rest in 4 weeks I can evict again.She is judgement proof even though I have one on her I can't collect from pensions etc. with garnishment or bank levy.She was a tenant I inherited from a previous landlord 4 months ago when I bought the place and she used to pay on time before getting hurt with her back.Any thoughts or dealings with SSI Disability will be helpful.

There are so many people wondering about Rich Dad classes and training that I think @Garrison Johnson did a perfect job of objectively describing it, in length, so people can make their own judgements on whether or not to attend.