All Forum Posts by: Ashley Childers

That is an awesome and motivating story, thank you for sharing it!

I have zero experience with Cozy, but my understanding is that a bank transfer cannot be reversed after apprx 48 hours, its already finalized. If they paid by credit card, then they can potentially dispute the charge, but you still get the opportunity to plead and validate your case. (I own several retail stores here in Asheville NC, and I have plenty of experience with merchant card transactions and disputes). If the lease was not signed by both parties, then it may come down to the wording of your deposit receipt/agreement. If you have not refunded the money, personally I would not, let them take you to small claims court. If Cozy is a company that protects the tenant that much more than the landlord, then prehaps there is a better suited service provider out there for you. If you have already refunded the money, fighting to attempt to get it back will likely not be worth the effort. All of this is of course, just my opinion. Good luck

I have done a few section 8 rentals, and I have zero negative experiences. Like others have stated, you still fully vett the tenant and rent is always on time. Some things just get a bad rap, sometimes earned sometimes not. In my cases, all were either a single working parent struggling to get by (and trying hard), or a disabled person. All quiet, great tenants. I know there will be other varying experiences from BP members, but for me it was positive. There are many potentially good tenants out there who need and receive financial aid, and often they are passed over because of the negative stigmas. Good luck!

I'm on the other side of the country from you, but when all else fails I get out and drive my 'farm' area. I love seeing a new one of the familiar red and white for sale by owner signs pop up, but so do the other investors so I try to make time to drive at least once a week to keep up. Watch for vacant houses of course, and try to meet the neighbors around any you find. Have some business cards made up that let people know you are buying houses, and offer a specific referral fee on the card. Drop those cards everywhere and with everybody. Let people know what you are doing. You aren't looking to buy 10 houses a month (yet), and direct mail can take a little while to gain momentum. The deals are there in just about any market, don't be afraid to get out and beat the bushes. Good luck!

That could get complicated (and sticky) pretty quickly. I assume the prospective tenant whose credit is lacking does not have a prior history of evictions, just credit struggles. Personally, I would keep it simple and have them either co-sign or sign a joint tenancy instead of doing a sub lease, at least if you do have to evict the tenant of a tenant if it comes to that. But I would definitely check with your local laws and regs, every state, county and city can be vastly different with what is and is not allowed. Good luck!

Welcome Robert! Sounds like you are well on your way, keep us posted!

Definitely agree with Kyle, get something down on the subfloor (hopefully the new carpet isn't installed yet). Kilz is good, even a deck sealer or just paint will help. The excretions have seeped through the carpet and into the subfloor, and you will be plagued by that 'faint' odor for the long term if it isn't dealt with now (I learned the hard way). Good luck!

Conventional lenders will generally see right through that. Its hard to show a paper trail history for undeposited cash on hand. The lender wants to be able to see that you not only have the cash available, but that it has sat in your possession long enough to show that you don't need it for daily/monthly living expenses. Also they are certainly hoping that you didn't take out a loan to aquire the funds. Depending on your loan and lender, it may be time to get creative with the seller on the remaining $$, or wait out the time. Good luck!