All Forum Posts by: Viral Patel

Hey Viral, sorry to hear. I have dealt with that myself many times. Using a service to report rent debts to Credit Bureaus can be very effective at recovering those debts because it can impact their credit report and score for years to come, typically 6-7 years depending on location. I've seen debtors pay within two weeks, and sometimes it takes years until they need credit when all of a sudden they'll reach out to you to eliminate the debt on their credit report. Some services only provide positive reporting, so they won't report the delinquency, and many only work with large landlords. In considering cost, you'll want to look at how much the tenant owes you, and how much time/headache the service will save you. By using a service it enables you to create accountability and increase the likelihood of getting paid, while also using an automated platform to handle the monthly follow-ups for up to 6-7 years so you don't have to. The other option is collections or court, but collections will take a large % of the debt and court takes a lot of time and money. Hope that is helpful.

@Jordan Dashwood, thanks for your suggestion and guidance. It is was useful.

1 Vote

Hi,

We have tenant who did not pay their on last month and walk away. Now, when were asking them last month rent they are saying adjust from deposit. The problem they left the house in mess so is what above normal wear and tear. I came across FrontLobby to use as service to report but it seems like they charge $200 per house. I just want to see if anyone has used them and/or recommend any other service.

FYI, one of the BP guys suggested me another name which I have spoken to yet but just want to see reviews about FrontLobby.

1 Vote

We have invested in Iintoo. We would like to connect to exchange our experience. They have changed their name in last 1-2 yrs hence you are not able to find anything. Normally, companies keep changing their name after losing all investor’s money. :D

0 Votes

I want to check if anyone used service like incognic or delete me to remove your data from online ? I want to know if it is worth doing it and how long we should keep it?

0 Votes

Quote from @Kevin Sobilo:

@Viral Patel, I'm sure the process will vary from state to state but generally when a tradesman files for a mechanics lien, I think they attach the property at that point probably with something like a lis pendens which is basically a notice that pending litigation could affect the title to the property. Then there would be a hearing scheduled for them to substantiate their claim to determine whether a mechanics lien is needed.

One thing to keep in mind is that the tradesperson needs to invest their time and money to do this. So, is it worth risking $300 to file for the mechanics lien and then also take time off for the hearing etc with a 50% chance of being awarded $300 for the work and $300 for the court filing fees? So, I doubt anyone would bother to even try it unless the amount was more. It just wouldn't make sense.

Thanks a lot your reply.. I really appreciate it. I agree that they need to pay fees etc and might make money rather doing paperwork :)

1 Vote

Hi,

I have a recurring issue in Texas whenever I hire a plumber or handyman. This time, I sent a plumber to unclog the drain, but he left without addressing the washer area. Later, the tenant called to report that the washer area was still clogged. She had asked the plumber if she should test the washer to ensure it was unclogged, but he said it wasn't necessary. Now, when I asked him to return and fix it, he's making excuses about the washer not being installed correctly and claiming he can't run a snake through it. I told him that his job was to unclog the drain, not to make a partial attempt. Instead of resolving the issue, he’s threatening to place a lien on my property unless I pay him.

I want to understand how does this lien work and this one example, I have such few examples with handyman, plumbers etc they always keep threatening if you don't pay us we will put lien on your property.

My question is:

- Is it that easy to put to lien on the property?
- There should small claims court etc before going to full fledge lien
- Any suggestion, how to avoid such situations? (I normally find technician from thumbtack, google, next door). BTW most of such issue has happen to me when I have hired someone from next door.

Thanks

1 Vote

Following up to see if anyone got some insight on this one..

0 Votes

Hi,

I am planning to do invest in fee simple transaction to get 5:1 deduction. I do know that up until last year conservation easement (CES) was way to go but since now IRS has reduce to 30% of AGI it make more sense to invest in fee simple donation for tax write off.

Anyone has experienced on how or what should I consider in terms of risk (penalty, interest, etc)? I know CES what audit a lot because of nature of the transaction, is it same for fee simple transaction as well?

Thanks for guidance and help.

0 Votes

Hi @Jay Thomas and @Ryan Letzeiser, sorry for late reply.. thanks a lot your response and guidance and good angle to look at it. :)

0 Votes

Houston, Texas

All Forum Posts by: Viral Patel

Viral Patel has started 24 posts and replied 68 times.

Post: Growing in Container

Post: FrontLobby and Reporting to collection

Post: FrontLobby and Reporting to collection

Post: Anyone hear anything about iintoo?

Post: Remove Personal Data from Google

Post: Lein for $300 job

Post: Lein for $300 job

Post: FEE SIMPLE transaction for donation

Post: FEE SIMPLE transaction for donation

Post: Roof replacement Cost Value