Traditional collection agencies are complicated, time-consuming and keep 35% of what they collect.  A lower cost option is a service we provide through the credit reporting agency we use.   For $35 each debtor a national collection agency will send a series of letters (including one from an attorney)  that shows those money-owing tenants you mean business.  When they pay you keep 100%!!!! And if they don't the service will report the debt to all three major credit bureaus. This may hurt their … [Read more...]

Many, many comments on yesterdays post asking for more information on why buying an investment now is so attractive. It's simple - our prices are low, our rents relatively high and the historically low interest rates mean carrying costs are very very low.  For example:  Say you find a home for sale at $100,000 that would rent for $100 a month.  Property taxes would be approximately $100 a month and property insurance would run $75 a month.   With $25,000 down the mortgage would be $75,000 and … [Read more...]