All Forum Posts by: Ivan Loza

@Bob Prisco I tried, but I need to find their address first.

@BOB CRANEY unfortunately I don’t think wages can be garnished in my state. But yes I definitely plan on being stricter, and more purposeful to limit my losses in the future

@John Chapman It’s just as much a personality difference as it is a generational thing. You spend most of your day analyzing legal documents and I spend most of my day teaching 5 year olds how to share and what sounds each letter makes. You’re more 🤖 and I’m more ‘uses a robot emoji on BiggerPockets’. Statements like the ones you mentioned generate business for RE Agents like myself now a days believe it or not. I honestly do appreciate your feedback and I don’t doubt for a second that you have vast success and experience in this industry. However, since you called this 25 year old a juvenile I’ll have to end with ok boomer

@Ned J. Thanks for the advice Ned. Being more vigilant about late payments/don’t be a lazy screener I feel are the top lessons I’ve learned from this experience.

Targeting higher renting properties goes beyond the issues I shared in this post. I’m tweaking my investment strategy to better meet my long term goals is all

@E.S. Burrell hey I’m not some wealthy real estate tycoon. I’m an elementary school teacher seeking strategies on how to retrieve the 6k I’m rightfully owed.

I was very understanding with the tenant and laid out a very manageable, long term repayment plan and even returned him the keys at one point so that he could have another chance at cleaning/fixing and earn/count the deposit towards his debt.

@John Chapman Going gangsta was written as a joke and with the intention of reeling in a lot of responses that would help expand my understanding of how to handle this sort of situation. It worked! #1 on trending plus plenty DMs

A chance of getting money back (which according to most respondents ranges from 10-20%) seems much better to me than no chance. A free 20 minute submission for a decent shot at 6k is a shot I’ll always be willing to take.

@Ryan Dossey essentially the same as the agency I ended up selecting and I feel pretty at peace about it.

@Courtney Nash I’m not sure if others use it, but my preferred method is zelle. That’s how my other tenants who are always on time pay me.

I don’t use a property manager because even though I’m a full time teacher and RE agent I have the time and energy to manage them myself. Not saying I won’t hire one after say 8 or so houses

@Courtney Nash lessons learned:

Charge a higher deposit

Never trust, always screen

Purchase higher end homes from now on. Homes that can rent for 1500+. This one rents for 1350

My new protocol: begin eviction process after tenant is 2 weeks late. NO EXCEPTIONS

... always go gangsta

@Shiva Bhaskar Thanks! That’s what’s I’ve set my mind on doing