All Forum Posts by: Eric Pierpont

@Tammy Richards I really like the idea of bumping up the rent a little above market and working in the 5% discount if paid by the 3rd. Thanks everyone! 

So just be vague about the date of the 4% fee and tell them it will come shortly after the 1st?

I told my tenants they would not be charged a 4% late fee until 15 days from the time payment is due. The 15-day grace period is state law which I will abide by. So now tenants do not pay me until the 13th or 14th of the month which is annoying. What would be a good way next time around to present a stricter payment policy while still abiding by the law? 

Thanks @Bob Langworthy and @Harrison Smith! I had been thinking about buying my first multifamily for years and finally pulled the trigger. I've been geeking out by listening to the BP podcasts as of late and will attend the next Southern Maine Investors Meetup. 

Hi there! I grew up in Maine, lived in Colorado for ten years or so and moved back last summer. I bought a triplex in a decent neighborhood in Lewiston through an FHA mortgage in the fall. I am glad I did not buy in the tree street area. Things are going well so far and I have a lot to learn!