All Forum Posts by: Michael Rockefeller

@Bryan O. I'll explain that....i rent in a small backwoods town and have a couple of older tenants who aren't really tech savvy. So i'm trying to make the rent payment process not only easy for me but easy for them as well. Just figured there was a simple phone in solution that they could use to call and pay with their debit cards. Thus also making those funds instantly available to my account which i like. I'm starting to guess maybe that solution does not exist... :-/

Ok i can agree with training the tenants, and for the most part they have been paying me without problems. I'll have to work on that.

Anyone with any info on obtaining an automated phone system? I really like the thought of always having that money directly deposited in my account.

Ok so after a few months of collecting cash payments i've grown weary of chasing down the tenants of my duplex for their monthly payments. To that end i've recently opened a bank account that i was going to use to have them deposit payments. Then it occurred to me one glaring problem.

If i wanted to start using late fees and have it enforced automatically i couldn't do that thru the bank itself...ie have the bank say, "Oh it's after the 10th so you need to deposit rent + late fee".

So now i'm thinking a call in system like most utilities use would be the best solution to this issue. Anyone have any info on this or using such a system themselves?

Ok so i've decided to get into the rental game and going about that by trying to land a nice low price SFH in the 20k - 30k range to start that i could live in for a year and get it paid off quickly before renting it out. I have a 640 FICO, got my down payment up to $1300 and had a guy from one of the local banks submit an FHA loan. He comes back and let's me know he can't get an underwriter for my loan. So my question is this, can i seek out an underwriter on my own? This was just last week so do i need to resubmit FHA paperwork or no?