All Forum Posts by: Neil Aggarwal

Thanks for the info. I looked at the website for TLOxp.  It says there is a monthly minimum fee, but they don't say what that is.  I signed up for a free trial so I guess I will find out.

County records are online and I can search by name, but I am worried about someone using multiple entities to hide the information.  I don't know of a way to identify a list of companies where a person is or has been an officer in that company. Any ideas on that? 

Thanks,
  Neil  

Hey everyone:

The credit reporting agencies stopped including liens and judgments in their reports.  I would like to find a resource for that information on potential borrowers when I am making a loan.

I looked into LexisNexis and FactualData but they want a monthly subscription which is quite high.  I don't make loans that often so it would not be cost effective for me to use them.

Is there a company that offers this information on a cost per report basis?

Thanks,
  Neil

Any place can be a good investment if the purchase price and rental income are right. Did you check sales comps to figure out if the property is a good purchase and rental comps to see what your ROI would be?

That is the biggest problem I see with these deals.  They have no incentive to find someone good.  They will place anyone who ponies up the money.

 I just thought of something: The tenant he puts in might destroy the house and leave me with more expenses than I will collect in income.  My normal lease says they can't sublet the property, but I assume they would not be using my lease.  I would need to review and approve anyone they lease to but I am pretty sure their contract does not allow me to do so.

Thank you for pointing that out!

If you are getting $850 per month, that should be what the property would rent for so it does not seem like a bad deal. I guess the rub comes in on the purchase portion.

So, is there anything wrong in that scenario?

That is exactly what I did.  I told him I did not understand what he is doing and that it sounded too fishy for me to get involved in it.

You must have talked to a different company.  The guy that called me said he would bring a buyer from his pool of people.

Everything is for sale given the right price. :)

I turned him down since I felt they were not legit. I am just curious to understand what they are doing.