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All Forum Posts by: Peter Bussey

Peter Bussey has started 3 posts and replied 19 times.

Post: Stessa--new cash management feature

Peter BusseyPosted
  • Real Estate Investor
  • Pittsburgh, PA
  • Posts 21
  • Votes 8

Right now my business banking account earns 0.00%. I'm looking at Stessa and Baseline for cash management with > 3.00% APR. Both use Blue Ridge Bank (Luray VA) as FDIC-insured bank. Still a little uneasy about banking via a 3rd party portal with no direct interaction witrh the bank. Concern: risk of loss if Stessa/Roofstock or Baselane goes under. (Oh, what startup fintech could ever go under? None ...except for example FTX...)

Any thoughts on safety of these "cash management accounts" would be appreciated. Is the risk FDIC's, or mine? Safe or not safe?

Thanks, 

Pete

Post: Recommendations for Roofing Contractor

Peter BusseyPosted
  • Real Estate Investor
  • Pittsburgh, PA
  • Posts 21
  • Votes 8

It's a standard asphalt shingle roof on a 1.5 story SFR.

Post: Recommendations for Roofing Contractor

Peter BusseyPosted
  • Real Estate Investor
  • Pittsburgh, PA
  • Posts 21
  • Votes 8

I'm looking for a roofing contractor to put a new roof on a house I'm rehabbing in Collier Twp. near Pittsburgh.   Any ideas or recommendations appreciated.  Thanks 

Post: Pittsburgh Contractors

Peter BusseyPosted
  • Real Estate Investor
  • Pittsburgh, PA
  • Posts 21
  • Votes 8

@Tanya Bass  I have the same question, looking for a contractor for a rental rehab in Pittsburgh. 

@Jeremy Pace I'll contact you in case you can share any suggestions. 

Thanks!     

Post: Sub $100k, Sub $50k, Sub $30k Investor Financing Options!

Peter BusseyPosted
  • Real Estate Investor
  • Pittsburgh, PA
  • Posts 21
  • Votes 8

Hi Jerry- Thanks for posting this extremely useful info.  Much of what is written on the properties #5-10 and delayed financing exception is pretty useless, but you made it very clear! 

I sent you an email about a specific scenario.

Thanks, 

Pete 

Post: Convention LOC/HELOC on investment property in Pittsburgh, PA

Peter BusseyPosted
  • Real Estate Investor
  • Pittsburgh, PA
  • Posts 21
  • Votes 8

@Jeremy Pace  

Will do, thanks! 

Post: Convention LOC/HELOC on investment property in Pittsburgh, PA

Peter BusseyPosted
  • Real Estate Investor
  • Pittsburgh, PA
  • Posts 21
  • Votes 8

@Jeremy Pace

Did you end up finding a lender who will do a HELOC in an investment property? I'll looking for one myself, right now. Thanks.

Post: Looking for HELOC on SFR Rental owned less than 6 months

Peter BusseyPosted
  • Real Estate Investor
  • Pittsburgh, PA
  • Posts 21
  • Votes 8

Hi, have a SFR investment property near Pittsburgh that I've owned less than 6 months. Looking for a lender that will do a HELOC, preferably based on appraised value. Key is less than 6 months seasoning. Any lenders that will do that? Ideas appreciated.

Post: WilliamPaid shutting down

Peter BusseyPosted
  • Real Estate Investor
  • Pittsburgh, PA
  • Posts 21
  • Votes 8

@George P. 

That's a good chart.  But there are a few other important criteria I'm looking at beyond cost and time for payment to hit (features and capabilities): 

1.  Flexibility for tenant to set up recurring or one-time payments...(some services only allow a recurring payment...I think that's too rigid and takes away the right of tenant to control their funds.  

2. Ability to set up automated reminder emails - e.g rent due, rent late, etc. 

3. Ability to track and bill for additional payments due besides , e.g. late fees,  utilities, etc.

4.  Bells and Whistles to help with property management: 

a.)  online application 

b.) work order management 

c.) reporting, e.g. history of rent payments 

d.) tenant portal

e.)  etc. 

eRentpayment and RenterUp, and others appear to have some these features.  Haven't done a thorough search yet though.

Post: WilliamPaid shutting down

Peter BusseyPosted
  • Real Estate Investor
  • Pittsburgh, PA
  • Posts 21
  • Votes 8

I'm another one that was happy with WilliamPaid.  Just got a new tenant set up on it...sort of embarrassing to have to say "BTW, that online rent payment services I told you to use, and you just spent time getting set up on? Well they're going out of business". 

So far, I like the feature set of eRentPayment , e.g. late fees, emails, etc.   Will check out some of the others mentioned here too.   I don't mind paying a small fee for a reliable service that helps me optimize my business...$3 seems like a rounding error on a $1250 rent payment!