All Forum Posts by: Mark F.

@Blaine Alger Cozy user here. Dont plan on changing but I only have one grip. They don't have an app nor do they plan on making one. That absolutely blows my mind. The CEO, I believe, was on Jake and Gino podcast years ago and I feel like if someone were to reach out to him and explain why that is a terrible idea he might listen to reason. So no app and the 5 day until rent money hits your bank are my downsides.

I was using Venmo and Zelle to collect which is in my account instantly or within a couple days. I've since adjusted my payments accordingly.

@Caleb Heimsoth I still say keep it coming. Always nice to see a realists post when some threads are all "You can do it!" and "you'll be financially free in no time!" post when the original poster doesnt even know what off market deals are.

@Julian Michon I make 69k as an E5. Most officers around me make 100k easy. Any high BAH location with COLA will push the pay over 100k, as an officer of course. Couple that with house hacking, I'm doing that now, and you've got a recipe for success.

Good luck @Gregory Schwartz ! Times will be tough for sure but if you have that typical DD attitude, you'll weather the storm. You can disregard some of Caleb's rhetoric. Hes always spouting negative/fully pessimistic answers. Some are warranted and with good info, some are just negative for the hell of it.

That's an even better reason, you don't discuss it. Of course they talk to each other. When I rented I talked to other tenants about gripes we were having. I think you answered your own question.

I'd explain to them the person down the hall isnt "skipping rent". They are some sort of payment plan or deferred payments. Another way to explain it? You're the boss and the owner. Unless this person complaining can show proof of some financial hardship due to what's going on, end of discussion. I hope as a landlord/business owner you're able to handle conversations like this.

@Antonio Cucciniello I saw that too. Yeah it sucks as obviously you'd get more money as a separate unit than all one unit but NJ doesn't like basement units very much.

@Nitanga Jean De Dieu In theory, great idea. Here's my story as to why I don't offer financial advice much to those who don't ask

In early 2019 the government shut down, and at that point did not pay the US Coast Guard which is my employer. I was part of a FB group for my specific Coast Guard job and was reading responses ranging from "how am I going to survive missing one pay period" to "how could the government do this to me", etc. I made a post (in hindsight it should have been a bit more sensitive to the situation, I just thought a bunch of grown men and women who are a bunch of self proclaimed badasses could handle some constructive critisism) that explained financial literacy should be on everyone's mind once we got paid. First I mentioned how it was pretty bad how people are scared of missing one paycheck yet I've seen a lot of these members drive the latest and greatest trucks and sports cars. I also mentioned some books which would help shift some mindsets. I had about 2 or 3 people agree with me. The rest, about 20 or so, felt I personally attacked them and their way of life. Saying how easy it was as a single member to say this and even hurling insults at me. Personally I feel if you have a family you have an even bigger responsibility to educate yourself but that fell on deaf ears. From then on I just throw a basic tip or two out there. Once in a while I get a younger subordinate who picks my brain. That along leaves me feeling I did something to help.

With my tenants, I only talk to them about that topic if they seem interested which some actually do.

@Antonio Cucciniello You might find your answer here. Google showed something on basement units but I'm having problems pulling it up. https://ecode360.com/12144997

@Antonio Cucciniello From what on the forums I've seen expensive being on permits and town side aka getting them to approve a 3 to 4 unit change. Sometimes they'll flat out tell you no. I have a finished basement and I rent out the basement and first floor as one unit together, which is an increased rent charge than just having one floor. Turns my 2 bedroom 1 bath into a 3/2 (I have a permitted full bath in the basement). Per my city, I put into the lease that there is no living space in the basement (beds) and no subleasing the basement (I'm strict on no subleasing). If they happen to put one of their family members in the basement a la mother in law suite, that is on them.

Sorry you meant it is a 3 plex and want to turn it into a 4 plex. My answer still remains. Personally the easiest way is to rent the basement and the first floor together and charge more rent.