All Forum Posts by: Ayne C.

Sorry, automating isn't the right word. I want to come to the ap, customize my notice and send it with a click. Maybe it generates a piece or mail for a fee?

Thanks for your reply

Hi there.

We have 5 units, currently self managing 1 and using a manager for 4. For this I use Cozy which has been great and QB for bookkeeping of the pprtfolio.

I find myself in need of an ap that helps me automate and organize notices to tenants. Is there something I can use to customize and send 3 day notice, lease violations, etc?

Thanks.

I have 3 SFH that have had renters for over a year. Management charges a renewal fee every year and honestly I'm ok going month to month. Are there any drawbacks to defaulting to m2m? Does it make it harder to raise rents or something?

Do all you SFH landlords keep doing yearly renewals?

The GC handling my rehab doesn't take credit cards. He said he is old school. But I want to get in the travel rewards game so I would prefer to use credit cards. GC mentioned he will need to get set up since I'm not the only one asking. Can anyone recommend a contractor friendly third party he can use for processing cc? I'm about to drop $40,000 with him and I want to travel.

Meantime I'm asking that I buy all materials he will get and he credits me in the draw schedule.

30% draw

30% draw minus materials

30% draw minus materials

10% draw minus materials

Amy other advise?

I collect security deposit, first and last months rent right after going over and signing the lease and the walk thru.

@Sam Leon

This is absolutely what we do as well

I have six doors but here is what is stopping me from getting #7. It's the feeling that I don't have the time to do due diligence and would not be able to create an amazing deal.

Yeah I'm in a funk.

I can tell you what's making me want to take my properties back from an excellent PM that has been with me for 6 years. He is unashamed and uncompromising in getting the high quality vendors. He isn't that concerned about getting me the best deal. Otherwise he is great.

Investment Info:

Single-family residence buy & hold investment in Lithia.

Purchase price: $100,000
Cash invested: $100,000

Purchased from a wholesaler, with a section 8 tenant that has 2 months left in their contract. After a fix and clean up, this should re rent for $150-200 more.

How did you find this deal and how did you negotiate it?

Wholesale deal

How did you finance this deal?

Cash

How did you add value to the deal?

Renovation

What was the outcome?

In progress

@Ikaika Farmer

Live on less than what you make. I do this by AUTOMATICALLY set aside a % off the paycheck as soon as it comes in.

Increase the gap. I do this by increasing the % periodically or focusing on generating more income, or getting rid of liabilities.

Invest it. I do this by buying assets or buying low cost index mutual funds. Or lend money or buy a business.

Wait. Time will compound your returns. You can get to your goal faster if you hustle, make more dramatic changes, invest in riskier things.