Main Meeting Break Down
Judgment Collection on Back Rent
with Cynthia and Gary Schmidt
Cynthia and Gary Schmidt have been landlords for over 20 years and have dealt with hundreds of tenants. Tenants are the bread and butter for the landlords but sometimes we run up against a non-paying tenant that can disrupt the cash flow of the rental property. Cynthia and Gary have had this happen and have developed a program that deals with the solution.
They had their first eviction in 1996, Cynthia represented them in the court. Gary managed the 75 units on the streets which made a great match. In the eviction process, they noticed the landlords were in havoc. The “I only want my place back” and “I don’t care about the money” just didn’t sit well with the Schmidt’s. They didn’t get into real estate to have the profits stolen by a non-paying tenant.
After a couple of evictions, they couldn’t take it away more and ventured into Post-Judgment proceedings to collect. They have collected 90 satisfied judgment, over $250,000, in the courts. In those proceedings, they noticed that they were the only landlords collecting their money. That was when they decided to develop the Collect Back Rent Training Course in 2005.
They have spoken in Miami, Philadelphia, St. Louis, Tampa, Atlanta, Dallas, Austin, Des Moines, Chicago, Milwaukee, OREIA National Summit and Mr.Landlord’s cruise, boot camp and convention. Now, they are coming to our March 11th meeting.
Their presentation will start out with Gary discussing: serving of the notices (correctly), Eviction and Small Claims court to obtain the judgment. Cynthia will take over at the point and discuss the Post-Judgment proceedings to collect. The procedures include the Execution/Garnishment Sequestration Wages, Bank Levy, Levy on Personal Property and her specialty “Subpoena Order to Appear-Produce Documents”
This is an all content presentation and the Collect Back Rent program is the only program that addresses the non-paying tenant and collecting on unpaid judgments. As Gary has quoted “Being a savvy investor doesn’t stop at the closing table, that is where it begins!” A must for all landlords and real estate investors!