Posted by: nitro994 ®
07/19/2005, 12:44:31
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Scotty...Congrats on your 1st deal!! I can't wait to get that 'rush' that you are feeling right now!!....I've had a few properties that were going to close, but unfortunately backed out due to structual damage (two properties that were too costly to repair - numbers did not work out anymore), and the other had a bad tenant (cashflowed nice, but had a bad business owner that just moved in) that I did not care to inherit. So ya...I'm still on the prowl for my 1st.... Question again to Matt.... When you get someone to purchase the home you are selling and they have bad credit, I assume you have them pay you directly for the monthly payments right?
If so, what measures do you take to ensure they make their payments on time and with no problems? Also, how do you handle these type of situations if they don't pay? thanks in advance...
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