Collecting on an unsecured debt is not easy and losses can incur, as such, most debt related to real property is secured by the appropriate security instrument (mortgage/dot) and that debt is evidenced by the Promissory Note which serves as a sort of I.O.U. for what was borrowed and how it get's paid back.3.

That investor could "Flip" it and make a profit, or if they choose, they could become a "Landlord" by having tenants and collecting monthly income.BP is great to bring these people together!

I take them through a scripted conversation in order to collect the data necessary to determine their level of motivation.

You, as a third party (not seller or buyer) wouldn't generally collect 'acquisition fees'.

If you can't you need to 1. dump it or 2. keep it as part of your future second home collections allowing tenants to pay for some of home. :)

One other thing to consider is to verify the seller’s ACTUAL rents collected.

., collecting rent, screening tenants, dealing with move ins and move outs?

I get your point about collecting enough rent so that when you do need to put cash in it's less painful.

Hey everyone,I thought I would start a thread to try and collect everyone's experiences on the best/most effective ways you have cut your expenses on your landlording business.

Just know if you have a certain type of tenant base ongoing rent collections and dealing with their "issues" will be involved.