All Forum Posts by: Deano Vulcano

They actually mislead me. They told me that they do pull credit reports when in reality  it is only a small part of a larger comprehensive report. It will indicate their credit score, how many delinquent accounts, charge offs, and bankruptcy`s. But it does not say how much is owed on the delinquent or collection accounts. It doesn't show a history of how many times they were late. It doesn't show how many accounts they have. All in all it`s very limited information, certainly not enough for me to make an informed decision. That`s why they are bye bye. 

Thank you all for your great comments. I have decided to fire my present management company and hire a new one.  They do full-blown credit reports. 

Thanks everyone for you responses, very informative.

This is why I ask.  I was surprised when they told me that they have never done credit checks. It just seems logical to be able to see a prospects payment history by looking at other accounts. Like how many 30 days late in the last 12 months, how much monthly debt, how much in collections...etc.

I have hired a management company to screen prospective tenants for my apartments. But I just found out that they do not do credit checks. They said they do criminal record background checks, income verification, evictions and collection accounts. Do you think this is sufficient criteria to approve a prospective tenant?

Is anyone familiar with Justin Williams and his program?

If so, what are your thoughts?

Deano

Hey Alex, great post with loads of info...thanks. I am in Scottsdale right now but will be back in Charlotte in a couple of weeks, let`s get together. I was also thinking about something on the water around Lake Norman.

Hi Michael,

Just to clarify I'm using the word "flip", when I actually mean "fix and flips", I do not do assignments.

And thank you for the link you sent, I'm going to read that now.

How are you figuring 40k profit. Are you saying that it would only take 3k to get it ready for the market. The wallpaper would have to go and be painted, thatwould take up the 3k budget right there. 

To find contractors, go to Lowes or Home Depot at 6:30 in the morning ( these are most likely your go-getters). This gives you a chance to meet the contractor before he comes to your house and also to see what kind of truck he drives. If he is loading sheets of plywood on his Ford Pinto roof........NEXT.