another reason to put the properties in an LLC that both you and your aunt own is that in Ohio a person is required to be a licensed broker or agent working under a broker to collect a fee to manage properties for someone else.

I can help them out of their awful situation, get my investor this home he wants, collect a sweet check.

Having all such parties on the hook makes collection activities against such interests easier.Another aspect is simply to reduce risk, loans are made on a joint basis giving a lender the option of seeking repayment from the easiest source of funds or assets that might be available.

Hi all,Looking for a referral to a collection agency for Oakland County, MI.I purchased an occupied Duplex and have a judgement against one of the tenants or non-pay.

If collection attempts have stopped, the note become a "stale" debt, as they may be viewed as an abandonment of the loan by the holder over time, they will be uncollectible.

If a foreclosure hasn't been started, they figure they've got two years to collect rent, so you'd probably have to pay them more than a years worth.

I have garnered a wealth of information from Bigger Pockets, since I started browsing this site, and the information provided, is all practical, cut to the chase topics - geared towards personal development, as well as giving a hands on approach to investing.My background is in the administrative/clerical field, in addition to have owned and operated a cleaning business for 8 years, then went into the insurance, then medical field.

And now have practiced project llc's with partner llc's and have my own 3 llc's in my real estate brokerage, home building and land developing companies.

I buy 30k houses drop around 20k in remodel and collect around 600.00 a month.

why can't I collect the security deposit and 1st month rent to complete rehab?