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Updated over 11 years ago on . Most recent reply

User Stats

32
Posts
4
Votes
Melanie Noblin
  • Soldotna, AK
4
Votes |
32
Posts

Payment logistics and the "Time Gap"

Melanie Noblin
  • Soldotna, AK
Posted

So you've got your toes dipped in your first rental investment property. You've taken the advice of making sure you have some cash reserves to pad yourself.

1. Renter pays by the 1st. Your mortgage payment is DUE on the 1st. This is the gap, so do you always just keep paid one or more months ahead to keep forward of that gap?

2. Do you pay your mortgage electronically from the account your renter deposits into? Or does your property management team handle that?

3. If no e-pay is available for the loans you took... What if you have 4 properties and 4 separate loans, do you send out 4 mortgage checks from all different accounts?

... and am I just overthinking everything?

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