All Forum Posts by: Al Pat

I have read about Cozy payment app on BP but have not personally used it as all my tenants are setup with Zelle`. My latest new tenant wants to pay using Cash pay app since that's how she gets paid from her business customers. If she pays using CASH then I will see how it works. I researched on Cozy.com and seems pretty good and you can also have tenants send you maintenance request as well as track expenses too. This could be plus come tax time. I hope someone using Cozy app chimes in here to give their feedback.

Thanks Jason. Shoot me a quick message about what are you selling and where.

I am looking to expand my investments into Riverdale and Jonesboro, GA. Is there any investor here who has experience with rentals in this market? I currently own several properties in Cobb county and have no problem getting them rented. Any insight about this area would be highly appreciated. 

If your long-term plan is to buy additional properties and you can finance this deal then finance it by all means. This will increase your cash on cash return. I bought my initial investments in cash which I wish I would have financed. Use as much leverage as as it make sense to your personal finances (and comfortable for you without losing sleep) to increase your return.

Please send me your details, I'm interested in it too if you are offering it in GA

You may want want to share this with the property manager but remember you have a property manager for reason. Under no circumstances you want to undermine him or else he will not be able to do what you hired him to do. I manage on my own but if I choose to have a PM then I will stay out of all business of communicating with tenants unless something is extremely critical. At the same time, you want to ensure that your tenants are treated with respect and dignity especially when they are paying on time every month and even if they are not you always be professional. So you may want to have a word with Doc but minimize your direct communication with tenants.

I don't like HOA and condos unless buying entire complex but my geographic location is different.

I always try to get the property below market price by atleast 25%. However, I have also ran into older investors in their 70s who held their houses for over 20 years and asking for the right offer. In that case I basically offer what they asked for but also ask to contribute 2 to 3k towards closing. My last two deals were exactly the same and they gladly did it. I gained instant equity. Bottom line, there is NO set rule. You assess each deal individually. I have also submitted list of issues for seller to see so I can get lower price.

That is a scam with official looking envelop and letter. They will send you few more marked as LAST NOTICE. I always get those after I close on properties. Disregard it, your deed can always be downloaded from the clerk of the county website under property records. You can also find the plate for your lot too.

As long as you know most people don't move with Christmas coming up in in two weeks so be patient. It will get rented. I plan on average five weeks of vacancy.