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All Forum Posts by: Rick M.

Rick M. has started 13 posts and replied 143 times.

Post: Would you pay more tax to help house the homeless?

Rick M.Posted
  • Rental Property Investor
  • Fort Lauderdale, FL
  • Posts 151
  • Votes 94
Originally posted by @Thomas S.:

I am opposed to all forms of charity, personal or government (S8). Charity is simply enabling situations that should not exist to continue to exist.  Society is weakened not strengthened by carrying those that can not contribute in a positive way to that society.

 ^^ This is a great point

Post: Would you pay more tax to help house the homeless?

Rick M.Posted
  • Rental Property Investor
  • Fort Lauderdale, FL
  • Posts 151
  • Votes 94
Originally posted by @Anthony Gayden:

At the end of the day I do not believe raising taxes will have the intended effect of helping those in need. Government is slow and inefficient in a lot of its social programs.

I do believe in helping those in need, but I do not believe that raising taxes will accomplish that goal.

  +2

Post: Would you pay more tax to help house the homeless?

Rick M.Posted
  • Rental Property Investor
  • Fort Lauderdale, FL
  • Posts 151
  • Votes 94

Instead of taxing us, why not let the government house the homeless? 

I’m sick of this socialistic mentality of these millennials. And if someone, god bless his or her soul, wants to house the homeless like Kim from Florida said they should be getting a tax break. Also as Tom from Canada said they have issues whether it’s drugs, mental illness and/or alcohol abuse. The reason why the government doesn’t want to house these people is because of the same issues you would have with them. Enough of all this coddling the US is become more and more of a Welfare State.

Post: Rookie mistakes with 1st tenants; where to go from here?

Rick M.Posted
  • Rental Property Investor
  • Fort Lauderdale, FL
  • Posts 151
  • Votes 94

This and this alone makes me rethink House hacking.

There are so many red flags where do I begin. The Gf wants you to hide her stuff to avoid possible theft, you went to deliver (an hour drive mind you!!) the GF to the BF, you filled his car on gas and this doesn’t take in to account the lack of payments happening left and right. You need to get control of the wheel before this ship sinks.

I had a similar scenario happen to me last month, The GF and BF were breaking up and the GF told me this after meeting them the first day. My exact words were “I don’t want to get or be put in the middle of anything. All I want is the unit to be kept in its current condition and I need the rents to pay the mortgage”. The last thing I want is to get involved in their personal life, as you are now attuned to, the Post-methhead BF now thinks you’re doing something with his GF, guess who's unit is going to get the toilet concreted or a war zone of a unit given back to them and to make matters worse you have no security deposits to buffer some of these costs if they happen. 

I will go out of my way to be rude or to remove myself from any personal conversation, not my chair not my problem. This is a business not Real World Littleton, Colorado

Post: How to transfer title for my rental property from me to my LLC?

Rick M.Posted
  • Rental Property Investor
  • Fort Lauderdale, FL
  • Posts 151
  • Votes 94

A wiseman once said

"The secret to success is to own nothing, but control everything."

Post: BEWARE of fraud by erentpayment.com

Rick M.Posted
  • Rental Property Investor
  • Fort Lauderdale, FL
  • Posts 151
  • Votes 94
Originally posted by @Katherine S.:

Most likely, it's a behind the scenes decision that wasn't thoroughly researched before it was implemented.  A rookie move that could potentially sink their company. 

 I think this is the best description of said situation

Post: Keep or toss vintage fridge?

Rick M.Posted
  • Rental Property Investor
  • Fort Lauderdale, FL
  • Posts 151
  • Votes 94

Pictures or it didn't happen

Post: Tenant despises owner after late payment eviction

Rick M.Posted
  • Rental Property Investor
  • Fort Lauderdale, FL
  • Posts 151
  • Votes 94

I like to consider myself a reasonable man; the tenant didn’t have a job and was back on his rent, probably concerned with getting kicked out. That’s stressful. He did pay up, I assume late fees and all, if this tenant is worth keeping then I would approach the situation head on. Texts aren’t working, next time you see him in person try to show some compassion just enough so he knows you care but still mean business. We all have had those days that we said things we shouldn’t have. If you can come to an agreement and make amends then I would proceed with keeping him, but if after this attempt to offer the olive branch goes left then it’s time to evict.

Post: BEWARE of fraud by erentpayment.com

Rick M.Posted
  • Rental Property Investor
  • Fort Lauderdale, FL
  • Posts 151
  • Votes 94
Originally posted by @Myron Cummings:
Originally posted by @Rick M.:

After looking for the deposit schedule, I found this

“For early October during our transition to a new processing bank the processing time may be 3-5 business days. This is a temporary change while we complete the transition.”

https://support.erentpayment.com/kb/a3/what-is-the-deposit-schedule-for-erentpayment.aspx

This needs to be on the homepage!!

Customers were fine with 3-5 Business days as that was deemed reasonable on Oct. 3.  When it came all the way to Oct. 13th and still no movement after 8 business days people began to grow concerned but phone lines were still open.

Flash forward to Monday Oct. 16roughly 6am PST they then release the "story" of funds being tied up in a bank swap but provide no further details as to when the issue will be resolved but that their lawyer has determined the amount required to be held in reserves...they promise more details later in the day which never occur.  By 8am PST phone lines have been cut off and nothing more is heard from Erentpayment end.

Tuesday Oct. 17, another vague message is posted on their FB page at roughly 6am PST the jest of which states that they have a legal and financial resources in place (once again no specifics given) and that they will be conducting a meeting at 2:30 pm PST to discuss the issue and will update later in the day.  Once again no update is given and phone lines/email continues to be shut off.

Today, Wednesday Oct 18, the only message the post on the FB page reads:  "We will have an update with further details later today".  This was basically the same message they left their customers with on Tuesday at 6am PST.  Since then there have been no further updates.

People are growing concerned when communication wasn't established before hand stating when/why a bank swap was being initiated and when you finally do tell your customers expect 3-5 days that is what they expect.  When you give no further update for 10 days they rightfully worry...once again mind you this information isn't being emailed to landlords...only on a facebook or support page that you have to actively seek out.  As it stands we are now 14 days out and 10 business days in with no real idea of what happened/why it happened/how the issue is getting fixed.   "We have financial and legal resources in place" and "We are having a meeting" do little to ease people's mind.

At what point should customers become alarmed and seek action?

I didn’t take the time to look at ERents FB page, I’m not that invested in this thread LOL. But I do find it interesting that this would happen and how it’s being handled is atrocious. I would be just as livid if I was using ERent over Cozy. I haven’t heard of ERent until this thread was made. All LLs that are using ERent have a reason to be concerned. I hope it’s just a bank being careful and causing all the waves not potential fraud.

Post: BEWARE of fraud by erentpayment.com

Rick M.Posted
  • Rental Property Investor
  • Fort Lauderdale, FL
  • Posts 151
  • Votes 94

After looking for the deposit schedule, I found this

“For early October during our transition to a new processing bank the processing time may be 3-5 business days. This is a temporary change while we complete the transition.”

https://support.erentpayment.com/kb/a3/what-is-the-deposit-schedule-for-erentpayment.aspx

This needs to be on the homepage!!