http://secure.american-apartment-owners-association.org/forum/index.phpThu, 17 May 2012 00:40:10 -0700 Phorum 5.2.16 http://secure.american-apartment-owners-association.org/forum/read.php?14,134,134#msg-134 http://secure.american-apartment-owners-association.org/forum/read.php?14,134,134#msg-134
Heather]]> Goweezie Miscellaneous Mayhem Wed, 16 May 2012 10:35:10 -0700 http://secure.american-apartment-owners-association.org/forum/read.php?13,133,133#msg-133 http://secure.american-apartment-owners-association.org/forum/read.php?13,133,133#msg-133
The city is Hobbs, NM. It is strong, and growing rapidly. It's also in a Housing Crisis, but, not the kind the rest of the country is in. This city can't build Housing fast enough.

So I've had my eye on this location for about 5 years now. This place seems to be the perfect storm for a Amazing investment opportunity. There's something...ghostly...happening in Hobbs' near future ;) I'll show a link to a decision made Yesterday actually, to bring a ...ghostly... project to Hobbs.

The main attraction to this location, for me, isn't necessarily the fact that its growing, but the fact that this city can't dream of keeping up with housing at its current construction rate, and the future holds even more for Hobbs. Here's the basics:

--Keep in mind now that this will have to be a NEW development. The city has a loose local building code, large inexpensive and well located lots in town on and off major streets, and the one specific I am looking at is in a Very good Developing Neighborhood. This would also be a Gated community. (it would be the only gated community in the whole of the city)--

Population. This city's population was around 25,000 in the 2000 census. In the 2010 census, it was 45,000. Two years later the estimate is around 53,000 and Projections place the Population at 100,000 in 2017. Yeah, I know. And unemployment in the County is at just below 4%.

--The City in 2000 mainly relied on Oil and Gas, it's existence is actually owed to fossil fuels. Hobbs was built for the Oil and Gas Industry. Its Huge, and there's no sign of it running out anytime soon. But,...The city has evolved, the county in a whole is large and rural, and it itself has evolved. As long as people need fossil fuels, Hobbs will grow. The more Oil costs, the more jobs there are. Theres a shortage of workers in Hobbs.

--One of the recent highlights of the area is the construction of a Uranium Enrichment Facility which is operating already at 50% capacity (after building for 6 years now) and has 3 more years left. When completed "Urenco" will produce 70%+ of the nations Enriched Uranium for Powerplants and Military/Government uses.

--A Large spin-off from the plant is in the works for the "left-overs" of the process from turning dirt into uranium, and thats a Plant that produces medical radioactive medicines, tools, etc. Waste not, want not!

--So like i said,... a "Ghostly" project was just decided on to go to Hobbs. Over a $1 Billion project as a matter of fact. As I said, Lea County (in which Hobbs is the "Main Squeeze" ) is evolving. A company called Pegasus Global Holdings is building a "Mock" city just next to Hobbs. A Ghost town for testing Energy generation and efficiency. "It will comprise urban, suburban and rural environments and include a mix of new and aging infrastructure.The facility will give clients a one-of-a-kind opportunity to test and evaluate their technologies in a setting that most closely simulates real-world applications." And of course, nobody will live in the houses! After construction this will create over 4,000 Jobs in a city with 4% unemployment. Construction begins in June.

Here's that link, because it's just simply interesting! News Article
The Projects Website: [www.pegasusglobalholdings.com]


As with the Uranium plant, most construction workers came for 3+ years at a time from out-of-state. A lot are put up in Hotels, and some are in small generic manufactured homes (both of which they pay for out of their per-diem)...so the opportunity is pretty obvious. I can assume safely, the same will happen to the workers of C.I.T.E.

As I said, Hobbs has a housing problem... The average time between a home hitting market and it getting a offer and going under contract is often as short as 48 hours and on average about 2 weeks. After calling around, Every Apartment Complex has a minimum 6 month waiting list...which will obviously sky rocket, and there is absolutely NO rental properties available. I actually own one in Hobbs, and its had the same Uranium plant worker in it since 2009.

A representative from Hobbs' City Hall told me there is an immediate need of at least another 500+ Units.

So, there's a chance for one of you reading this out there to cash in on a long term investment here, I plan to be one of them, but like I said, I've never built a property, I own one that was already built in Dallas, TX. What is the process? How do I get investors for a new complex?]]> JWM-Solutions The MarketThu, 10 May 2012 14:12:30 -0700 http://secure.american-apartment-owners-association.org/forum/read.php?15,132,132#msg-132 http://secure.american-apartment-owners-association.org/forum/read.php?15,132,132#msg-132
Would anyone know of a reputible gutter cleaning and repair company here in Columbus OH

Thank you]]> Sheila Managing & MaintainingTue, 08 May 2012 09:22:03 -0700 http://secure.american-apartment-owners-association.org/forum/read.php?11,50,131#msg-131 http://secure.american-apartment-owners-association.org/forum/read.php?11,50,131#msg-131
Turns out the guy was a professional scammer. He paid the first and last month of rent. Burned the siding on the house trying to add fuel oil in the tank, completely trashed the house.

He abused his wife, had 5 children, and got fired. She and the kids left him.

The local power company contacted me to say he had scammed them on three previous rentals and had a trail of unpaid bills.

When he received eviction papers, he came to my house, demanding I sign a statement saying he'd paid all of his rent. After promptly calling the police on him (while he stood there ranting) he left. A week later, he had the wife contact me saying she'd moved back in and kicked him out. Could they stay?

I learned to not trust my gut (it's obviously not reliable).

Check references

Get a healthy security deposit and stay away from low rent units

Do regular monthly property checks by staggering maintenance like changing air filters, bug spraying, dryer vent cleanouts, etc.

Talk to my tenants in person at least once every 2 months sometimes face to face, sometimes by phone

Start eviction proceedings the day after rent is late, and to maintain a concealed weapon license.

I also watch "Pacific Heights", that old movie, once a month just to remind myself that appearances are deceiving!]]> KarJeTipper Tenant TalkMon, 30 Apr 2012 12:27:04 -0700 http://secure.american-apartment-owners-association.org/forum/read.php?11,61,130#msg-130 http://secure.american-apartment-owners-association.org/forum/read.php?11,61,130#msg-130 KarJeTipper Tenant TalkMon, 30 Apr 2012 12:06:43 -0700 http://secure.american-apartment-owners-association.org/forum/read.php?14,56,129#msg-129 http://secure.american-apartment-owners-association.org/forum/read.php?14,56,129#msg-129
Get started with legal eviction proceedings as soon as possible, once you have control over the property. It will take more than a month to get the tenant out. You are sure to have additional time lost in repairs.

Suggest that the renter immediately contact social services for Section 8 or other public assistance that might allow him to remain in the unit, or to get help moving to another place. If he has no income, he may qualify.

In agreement with previous poster, you have to run your business like a business or you will end up losing your inheritance.

Good Luck!

scratch that

Good Business!]]> KarJeTipper Miscellaneous Mayhem Mon, 30 Apr 2012 12:03:02 -0700 http://secure.american-apartment-owners-association.org/forum/read.php?16,89,128#msg-128 http://secure.american-apartment-owners-association.org/forum/read.php?16,89,128#msg-128 gannonrt Tenant ScreeningFri, 27 Apr 2012 10:28:03 -0700 http://secure.american-apartment-owners-association.org/forum/read.php?17,91,127#msg-127 http://secure.american-apartment-owners-association.org/forum/read.php?17,91,127#msg-127
Thanks,

Bill Gray
Rent Recovery Service

My Blog: www.thelandlorddoctor.com]]> CollectionsGuy Collecting Delinquent RentThu, 12 Apr 2012 06:33:42 -0700 http://secure.american-apartment-owners-association.org/forum/read.php?17,99,126#msg-126 http://secure.american-apartment-owners-association.org/forum/read.php?17,99,126#msg-126
Here are your options:

1. Report the debt yourself to all three major credit bureaus for less than $30 per debtor, then collect the full amount yourself without paying any commissions.

2. Hire an agency to collect it for you. Most do not charge you up front, but keep a percentage when they collect the money, then send you a check for the difference.

Of course I recommend Rent Recovery Service www.rentrecoveryservice.com since I work for them and consider them the best. Rent Recovery Service is also the AAOA preffered vendor for tenat debt collections.

Please let me know if I can help you further.

Thanks,

Bill Gray
Rent Recovery Service

My Blog: www.thelandlorddoctor.com]]> CollectionsGuy Collecting Delinquent RentThu, 12 Apr 2012 05:45:36 -0700 http://secure.american-apartment-owners-association.org/forum/read.php?17,118,125#msg-125 http://secure.american-apartment-owners-association.org/forum/read.php?17,118,125#msg-125
There are ways to track people down using serach engines such as Google, and social media like FaceBook and Twitter. You might try those, but first I would contact the AAOA and ask for a report that may show where your previous tenant is living now.

Enforcing a judgment and collecting it can be very tough. If you are unable to find them quickly you may want to call Rent Recovery Service (RRS) at 800-845-1086 and hire them to collect your judgment. RRS makes their living tracking down debtors who are previous tenants, and collecting from them. You only pay RRS if they collect the debt, so it will cost you nothing out of pocket.

Hope this helps you. Good luck,

Thanks,

Bill Gray
Rent Recovery Service

My Blog: www.thelandlorddoctor.com]]> CollectionsGuy Collecting Delinquent RentThu, 12 Apr 2012 04:24:27 -0700 http://secure.american-apartment-owners-association.org/forum/read.php?17,118,124#msg-124 http://secure.american-apartment-owners-association.org/forum/read.php?17,118,124#msg-124 savannah2546 Collecting Delinquent RentThu, 12 Apr 2012 04:20:20 -0700 http://secure.american-apartment-owners-association.org/forum/read.php?15,119,119#msg-119 http://secure.american-apartment-owners-association.org/forum/read.php?15,119,119#msg-119 Ms_Slumlord Managing & MaintainingMon, 09 Apr 2012 15:54:04 -0700 http://secure.american-apartment-owners-association.org/forum/read.php?17,118,118#msg-118 http://secure.american-apartment-owners-association.org/forum/read.php?17,118,118#msg-118 savannah2546 Collecting Delinquent RentSat, 07 Apr 2012 02:13:46 -0700 http://secure.american-apartment-owners-association.org/forum/read.php?17,99,117#msg-117 http://secure.american-apartment-owners-association.org/forum/read.php?17,99,117#msg-117
Is it worth it to try to collect?

Thanks!]]> TheHappyLandlord Collecting Delinquent RentFri, 06 Apr 2012 05:00:33 -0700 http://secure.american-apartment-owners-association.org/forum/read.php?17,90,116#msg-116 http://secure.american-apartment-owners-association.org/forum/read.php?17,90,116#msg-116 BobSotts Collecting Delinquent RentFri, 06 Apr 2012 04:54:32 -0700 http://secure.american-apartment-owners-association.org/forum/read.php?17,91,115#msg-115 http://secure.american-apartment-owners-association.org/forum/read.php?17,91,115#msg-115
Thanks Bill,

Tim]]> TimQualls Collecting Delinquent RentFri, 06 Apr 2012 04:42:15 -0700 http://secure.american-apartment-owners-association.org/forum/read.php?16,114,114#msg-114 http://secure.american-apartment-owners-association.org/forum/read.php?16,114,114#msg-114
Harry]]> HarryPontious Tenant ScreeningThu, 05 Apr 2012 07:42:01 -0700 http://secure.american-apartment-owners-association.org/forum/read.php?17,95,113#msg-113 http://secure.american-apartment-owners-association.org/forum/read.php?17,95,113#msg-113
Harry]]> HarryPontious Collecting Delinquent RentThu, 05 Apr 2012 07:40:19 -0700 http://secure.american-apartment-owners-association.org/forum/read.php?16,89,112#msg-112 http://secure.american-apartment-owners-association.org/forum/read.php?16,89,112#msg-112 CarolGlenn50 Tenant ScreeningThu, 05 Apr 2012 05:26:57 -0700 http://secure.american-apartment-owners-association.org/forum/read.php?17,102,111#msg-111 http://secure.american-apartment-owners-association.org/forum/read.php?17,102,111#msg-111
Regards,

Carol Glenn]]> CarolGlenn50 Collecting Delinquent RentThu, 05 Apr 2012 05:23:20 -0700 http://secure.american-apartment-owners-association.org/forum/read.php?17,91,110#msg-110 http://secure.american-apartment-owners-association.org/forum/read.php?17,91,110#msg-110
You have a couple ways you can go to attempt to collect what you are owed. Probably the question I am asked most is, "should I go to court and sue my previous tenant?" This question is impossible for me to answer. The answer depends on the state, where your rental property is located, and the laws of that state, the location of your debtor, his/her job, the amount of the debt, etc.

Suing can be an effective way to collect what you are owed, but it also can be costly in time, effort and money, then yield no or few results. I am not attorney and cannot give legal advice so I suggest anyone who asks if they should sue, to contact a local attorney.

Your second option is to hire a collection agency to attempt to collect the debt for you as a non-judgment. The landlord/tenant business relationship is a unique one. Only hire an agency that specializes in collecting tenant debt because they will have the understanding of the rental process, forms and deposits other collection agencies won’t. Hiring an agency that specializes in collecting tenant debt increases your chances of collecting what you are owed. Here is a link to one of my blog articles that explains how to hire a collection agency:

https://thelandlorddoctor.wordpress.com/2009/07/28/how-do-i-hire-a-collection-agency-to-collect-my-tenant-debt/

The company I work for, Rent Recover Service is one of the very few nationwide companies that specialize in collecting tenant debt and the only company who is a preferred vendor of the AAOA.

Your third option, and the one I prefer, is to report the debt to all three major credit bureaus yourself. Reporting the debt negatively affects the debtor’s credit which will hopefully motivate him or her to pay you. Rent Recovery Service also offers this service separately from their full service contingent collection service.

I hope this helps you decide which way to go about attempting to collect what you are owed.

Good luck,

Bill Gray

Rent Recovery Service

My blog: www.thelandlorddoctor.com]]> CollectionsGuy Collecting Delinquent RentThu, 05 Apr 2012 05:13:41 -0700 http://secure.american-apartment-owners-association.org/forum/read.php?16,97,109#msg-109 http://secure.american-apartment-owners-association.org/forum/read.php?16,97,109#msg-109 jeffbsurferdude Tenant ScreeningWed, 04 Apr 2012 08:16:26 -0700 http://secure.american-apartment-owners-association.org/forum/read.php?17,91,108#msg-108 http://secure.american-apartment-owners-association.org/forum/read.php?17,91,108#msg-108
Thanks for your help, Tim]]> TimQualls Collecting Delinquent RentThu, 29 Mar 2012 15:12:00 -0700 http://secure.american-apartment-owners-association.org/forum/read.php?4,101,107#msg-107 http://secure.american-apartment-owners-association.org/forum/read.php?4,101,107#msg-107
Thanks!
American Apartment Owners Association]]> admin American Apartment Owners AssociationThu, 29 Mar 2012 14:56:18 -0700 http://secure.american-apartment-owners-association.org/forum/read.php?17,102,106#msg-106 http://secure.american-apartment-owners-association.org/forum/read.php?17,102,106#msg-106
On the issue of who to charge what, each adult who signed the lease is individually responsible for the entire amount, until the entire amount is paid.

As far as them moving out of state, you do not need to track them down if you simply report the debt to the three major credit bureaus. This way the fact that they owe you money stays with them no matter where they move. You may report the debt by hiring a collection agency to do it, or you may do it yourself very inexpensively. Either way I can tell you how to report the debt. Please email me at Bill@rentrecoveryservice.com.


Thanks,

Bill Gray
Rent Recovery Service

My Blog: www.thelandlorddoctor.com]]> CollectionsGuy Collecting Delinquent RentThu, 29 Mar 2012 07:08:20 -0700 http://secure.american-apartment-owners-association.org/forum/read.php?17,90,105#msg-105 http://secure.american-apartment-owners-association.org/forum/read.php?17,90,105#msg-105
The day you re-rented the unit is the last day you can charge the previous tenant rent. You may not charge what is often referred to as "double rent". If you will email me your move out statement for this particular tenant I am happy to go over it with you, and help determine exactly how much money you should attempt to collect. My email address is Bill@rentrecoveryservice.com.


Thanks,

Bill Gray
Rent Recovery Service

My Blog: www.thelandlorddoctor.com]]> CollectionsGuy Collecting Delinquent RentThu, 29 Mar 2012 07:04:40 -0700 http://secure.american-apartment-owners-association.org/forum/read.php?17,99,104#msg-104 http://secure.american-apartment-owners-association.org/forum/read.php?17,99,104#msg-104
You would be an even happier landlord if you collected just a portion of what previous tenants owe you! To assume you will never recover anything is wrong. Depending on who your tenants were, and the circumstances, it is possible for you to collect up to 45-50% of what you are owed, over time.

There are several options you could persue to collect your debts. Please post a good example of one or two of your collection situations and I will try to give you some tips on how to get started.


Thanks,

Bill Gray
Rent Recovery Service

My Blog: www.thelandlorddoctor.com]]> CollectionsGuy Collecting Delinquent RentThu, 29 Mar 2012 07:00:43 -0700 http://secure.american-apartment-owners-association.org/forum/read.php?12,58,103#msg-103 http://secure.american-apartment-owners-association.org/forum/read.php?12,58,103#msg-103
Please let us know how this goes.

Thanks,

Bill Gray
Rent Recovery Service

My Blog: www.thelandlorddoctor.com]]> CollectionsGuy It's the Law!Wed, 28 Mar 2012 19:08:37 -0700 http://secure.american-apartment-owners-association.org/forum/read.php?17,102,102#msg-102 http://secure.american-apartment-owners-association.org/forum/read.php?17,102,102#msg-102
Thanks for your help,

Carol]]> CarolGlenn50 Collecting Delinquent RentWed, 28 Mar 2012 18:58:58 -0700 http://secure.american-apartment-owners-association.org/forum/read.php?4,101,101#msg-101 http://secure.american-apartment-owners-association.org/forum/read.php?4,101,101#msg-101
Thanks for your help!

Carol]]> CarolGlenn50 American Apartment Owners AssociationWed, 28 Mar 2012 18:56:11 -0700