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Updated over 6 years ago on . Most recent reply

User Stats

24
Posts
3
Votes
Jimmy Solano
  • Flipper/Rehabber
  • San Antonio, TX
3
Votes |
24
Posts

Newbie (Possible) Issues

Jimmy Solano
  • Flipper/Rehabber
  • San Antonio, TX
Posted

Hello, So I still consider myself a rookie so I need to ask this question. I currently own 3 properties and renting 2 and looking for a new tenant for the other. The issue is I don't receive my rent payments from my property managers until the 10th/11th of every month. The mortgage is due on the 1st late by the 5th. Same as the rent. Tenants are not paying the rent late. I end up paying out of pocket to pay the mortgage and obviously get compensated by the 10th/11th of each month from the rent payments. I feel this is unsustainable for me ESPECIALLY because i want to buy more properties ( at least one more until i pay some of these off) Am i wrong for my high anxiety/ being upset with the property manager not depositing the money until the 7th/8th of every month?

Most Popular Reply

User Stats

1,225
Posts
561
Votes
Scott Weaner
  • Rental Property Investor
  • Yardley, PA
561
Votes |
1,225
Posts
Scott Weaner
  • Rental Property Investor
  • Yardley, PA
Replied

I contacted my mortgage companies and asked them to change the due date to the 10th for similar reasons. They had no problem doing so.

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