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Updated about 7 years ago on . Most recent reply

Elizabeth Garcia's profile image
Elizabeth Garcia's profile image
Elizabeth Garcia
  • from Westbury, New York
  • Member since Dec 16, 2017
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Elizabeth Garcia's profile image
Elizabeth Garcia's profile image
Elizabeth Garcia
  • from Westbury, New York
  • Member since Dec 16, 2017
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Elizabeth Garcia
  • Westbury, NY
13
Votes |
30
Posts
General Real Estate Investing

is receiving monthly rent in cash bad?

Elizabeth Garcia
  • Westbury, NY
Posted

I just finished watching the webinar, "How to Buy Your First Duplex, Triplex, and Fourplex!" in which Brandon comments that collecting the rent in cash was "stupid." Can anyone enlighten me on why collecting the rent in cash would be bad?  

Thank you in advance.

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Mark Holencik's profile image
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Mark Holencik
  • Investor
  • from Coplay, Pennsylvania
  • Member since Nov 1, 2015
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Mark Holencik's profile image
Mark Holencik's profile image
Mark Holencik
  • Investor
  • from Coplay, Pennsylvania
  • Member since Nov 1, 2015
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Mark Holencik
  • Investor
  • Coplay, PA
315
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Mark Holencik
  • Investor
  • Coplay, PA
Replied

I have never turned down cash that was owed me. The paper trail is only something the tenant needs. If I landlord claims he did not get the rent. Makes no difference to bookkeeping if it is cash or check.

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