All Forum Posts by: Brett Axler

@Inderpreet Singh Welcome!! Best of luck on your journey!!

Hi Keith,

Welcome to the journey! Nice to see a fellow IT industry professional chasing their real estate goals. Let's connect.

Best of luck and talk soon.

Brett

 When I was starting off with my first property I just used Venmo because it was easy and reliable. I have since moved to Zelle and I am in the process of exploring collecting payments through Stessa. I would like to collect payments through Stessa so it's integrated into my financial tracking, my only concern is the multiple ACH transfers required between the tenant paying me, then me transferring the funds to my business checking outside of Stessa, I don't want the rent to be just hitting my account 5-8 days after the start of the month. Testing in progress!

For your case, just starting off, I don't see a reason why you can't just use Zelle or Venmo, then as you scale to more properties you can look for a more professional solution. Just keep in mind that in H2 2023 most of those platforms are going to begin issuing 1099-Ks but that should actually be helpful for claiming the income on your taxes, further helping your DTI ratio for future purchases!

@Scott Esmail what neighborhoods of Orlando? I'm seeing a lot of movement in Windermere and Winter Garden still

Hey Logan!

Nice to meet another local Orlando LL. I typically post on Zillow and FB Marketplace, though I've had the best luck with word of mouth.

I collect applications on Zillow and Stessa, both have great background check features.

Best of luck on your journey!

Brett

Quote from @Martin Taylor:

Quote from @Josh Davidson:

Quote from @Jason Rhodewalt:

Hi Matt how has it been going with Stessa? I'm tempted to make the jump from Relay Fi where I get 0% but those ACH/debit card limits are almost comical. I wonder if anyone has talked to them about raising those?

Send a message to Stessa via their chat and ask that that raise your limits. Here is what they say the maximum is. 

Does anyone have experience with setting up an account for their LLC(s) with them? I'm interested in the higher interest and since the daily/monthly limits can be increased thats a positive sign. For my particular use case, the majority of expenses are paid by the PM and they also receive the rents. All I would be looking to pay out would be when I send money to the PM for repairs or for paying taxes, insurance and myself.

 Hey Martin,

I set-up one of my LLCs with a Cash Account on Stessa and had no problems with the process. I just had to submit a copy of my state filings and ID to prove I was the controller for the LLC.

Beyond that I haven't had much of a chance to really test of the features, or there lack of features. The amount of time for ACH clearing makes me a little nervous.