All Forum Posts by: Jason K.

My wife and I own three properties in Tacoma and mostly rent by the room to young professional women (total of 20 tenants in the 3 homes). We have managed them ourselves for years, but we are ready to pass the management-baton. Our model doesn't fit the mold of traditional property management companies so we are looking for an individual interested in taking them on. Know of anyone? 

I don't know anyone off hand. I'm sure my contractor has some good contacts.  I can ask if @Tyrone Green's contact doesn't work out. 

Here's what I've found out from my research

Cozy: I've been using them for a few months, but I have one tenants that frequently has non sufficient funds. The problem with Cozy is that I don't find out until the 4th or 5th! By the time the tenant can get around to paying me in cash/check/money order/etc. I'm deep into the month. Cash flow isn't so much the issue, but knowledge - I want to know on the 1st if my tenants have enough to pay or not. So I'm looking for a new solution.

Giving tenants bank acct and routing: According to Bank of America it's not a big deal. They can deposit into your account, but there are enough security measures to not worry about them being able to take money out. 

Intuit: At 50 cents a transaction for ACH that's a pretty good deal. And according to the rep I spoke with, if the tenant doesn't have enough money in their account they can't process the payment - unlike Cozy. 

Venmo: I've been doing some transactions with them recently and have not had any complaints! I'd like to be able to set up recurring payments, which is not a feature they currently have.

Other solutions like Erentpayment, etc: Most other solutions I've found so far seem to be more spendy. For example if I switch all my residents to $2-$3 per transaction, that's about $800 per year out of my pocket. Could I pass the cost on to the tenant? Sure. But if I can find a free solution that's even better. 

I think I can make it! Looking forward to it! See everyone there!

Welcome to BP @Tarin! You'll learn a lot on here!

I grew up in the same town as Dave and have met him a few times. His headquarters are a couple blocks from my Dad's office. Overall I tend to think his teachings are good for personal finance, but not necessarily investing. When I think about how many people are living paycheck to paycheck and up to their eyeballs in consumer debt, I think "boy America really needs more of DR's teachings"!!! But when you get past that I think people like Robert Kiyosaki have much better teachings about investing. 

Does anyone know of a good deal in Tacoma WA right now? Any wholesalers out there? I have an investment parter that is looking to park their money in a buy and hold. Multifamily or single family in the 6th ave or Hilltop area of Tacoma. Thanks!

@Gary Waldron welcome to the site! It's good to see other local Tacoma folks on here!

Hey @Brian Bice  and @Andrew Kniffin  what is Columbia City like? We've been exploring the idea of moving to Seattle and we're looking at Columbia City specifically. We live and invest in Tacoma right now

 I considered putting a tiny house in the back yard of one of my investment properties, but didn't look too too far into the idea.  I've heard financing can be an issue. Can't get a traditional mortgage for them. May be hard to use leverage.