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19 October 2011 | 8 replies
(this is usually NOT the best course of action)All the attorney will do is hire a collection company that has more bark than bite and rarely collects any money.The other option is to use a judgement recovery company.They usually pay the court costs and filing fees and then split 50/50 of whatever they recover.Sometimes they will buy the judgement outright for real cheap.In this case you get your cash right away and move on.Judgements depending on the smarts of the tenant can take 3 months to years to collect.Some tenants are judgement proof.This can happen when:1.The funds are retirement funds in a bank or social security where money can't be taken.2.The tenant works a job where their income is at a level where they cannot be garnished by Federal Law.Even when you can garnish you can only take 25% each time.If their are other judgements already garnishing then the 25% gets split up among the garnishments.85% of judgements never collect a dime because of the work involved.Even if the judgement company you employ chases the tenants for money the tenant may pay or they might just file BK if they have other debts.A chapter 7 costs thousands so it would depend on their other total debts and how much your judgement is for.This is why it is important to carefully screen tenants.They need to have good credit,a good job with long work history,etc. or something where you know you can collect if they default.If you have multiple tenants staying in one place and they all make minimum wage it will be hard to collect on them later versus one person showing great income.Hope it helps.
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7 November 2011 | 5 replies
Here's the link to the panel:Promoting Your Blog in the Age of Social Media3:45 PM to 4:45 PM - Thu.
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2 November 2011 | 24 replies
It's almost like creating a brand in social media.
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5 September 2013 | 1 reply
As most of you probably know, Google launched their own social network to compete with Facebook, Twitter, etc., called Google+They have now made it possible to create company profiles (I encourage all of you to do so), and you can now find BiggerPockets on their network.If you're already on G+, add us to your circles.If you're not already on G+, join and then add us to your circles.Here's the important stuff:The BiggerPockets G+ Profilehttp://plus.google.com/b/103984299855532997032/You can find me there too by looking me up....Don't forget to share BP and all our great content with your networks over there!
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18 November 2011 | 11 replies
Thanks everyone you all make great points.I believe she is milking the situation.A point I would need to clarify with social security is if in fact they would mail the check to the landlord since we are listed for back rent on the papers she submitted or the check would come to her??
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12 December 2011 | 6 replies
How to Charge Your Friends for Calls, Emails, Texts, Social Networking & Video Conferencing
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31 July 2012 | 9 replies
The income is Social Security, VA benefit (military spouse of a veteran who passed away) and a civil service check.
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16 December 2011 | 6 replies
Self employment tax or SET is the same as the medicare and social security that's deducted from a paycheck from an employer.
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18 December 2011 | 11 replies
I know other family members who work a regular JOB.Their mindset is put money in savings in case of a medical illness or rainy day fund.Take 1 or 2 trips a year with vacation and that's all they aspire to be.They look at me and what I do and think "I am lucky" or "I have it good" that I have my own business.They think I sit at home in my office all day and do nothing.They do not realize I am putting in way more hours than they could imagine.I am sacrificing now so that down the road as I get older (36 now) I can take it more easy.Meanwhile many of these (savers) will be working as a greeter at Wal-mart at age 70 and complaining about social security not being enough.I am not going to be one of those statistics.A family member that is 68 has their house paid off,car paid off,and with social security still lives hand to mouth.I try to explain they need to grow that money to stay solvent but FEAR is what grips them from making a move.Whatever everyone believes we know we are born and in a certain amount of time we die.Where we go after that is up to each person to decide.So you do not have time to let FEAR keep you from making rational decisions and not living life.There is risk in everything.Successful people taker calculated risks and on average win more times than they lose.I guess I would be 4 and 5 since I have my own money but also buy property using owner financed deals.
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18 December 2011 | 2 replies
Ponzi Scheme - Social Security & Stock Market are legal forms.