All Forum Posts by: Carlo D.

I was hoping to get some clarity on the rent collection functionality of the stessa/rentredi platform, versus hiring a property management company. I'm confused with the potential overlap of functions.

I have read on here that hiring a property manager for out of state rentals include the service of them collecting your rent for you. Since platforms like stessa/rentredi have this feature, can you hire a property manager out of state without the service of collecting rent?

My second question was on the banking services side for these platforms. Are you connecting your traditional bank accounts to the platform? Or do they use the virtual banking model like Baselane and Quickbooks Money, etc?

I heard of a situation (I forget the institution name) that also had the same set up as Baselane. But when their business relationship with the actual bank soured, the API connection was severed and the people were basically left without access to their money.. And FDIC wasn't going to kick in since basically, the bank had not failed.

Hoping to get some clarity from the brain trust here. Thank you in advance.

I was hoping to get some clarity on the rent collection functionality of the stessa/rentredi platform, versus hiring a property management company. I'm confused with the potential overlap of functions.  

I have read on here that hiring a property manager for out of state rentals include the service of them collecting your rent for you. Since platforms like stessa/rentredi have this feature, can you hire a property manager out of state without the service of collecting rent?

My second question was on the banking services side for these platforms. Are you connecting your traditional bank accounts to the platform? Or do they use the virtual banking model like Baselane and Quickbooks Money, etc?

I heard of a situation (I forget the institution name) that also had the same set up as Baselane. But when their business relationship with the actual bank soured, the API connection was severed and the people were basically left without access to their money.. And FDIC wasn't going to kick in since basically, the bank had not failed.

Hoping to get some clarity from the brain trust here. Thank you in advance.

 Thank you @Chris Seveney

 Thanks @Chris Seveney. 

It's the licenses that turned me off. Between all the licenses I already carry for my current business endeavors in different states, I'm not too keen on adding another set of licenses I would need to possibly study, apply for and take a test for then maintain with CE credits in an industry I'm not even sure I want to take on with any meaning volume.  

Thank you to everyone that responded and helped me determine that this is not the way I want to go. 

Do I need a license from my home state to buy mortgage notes? Do i need to be licensed in the state where the real estate is located for the mortgage one is buying? Thank you in advance.

 @Chris Seveney. Do people who buy notes typically need to get a license from the state first?

 @Chris Seveney Sent you a DM

@Chris Seveney. Please disregard my last msg. I just checked out the website. Thank you again.

 Thank you very much @Chris Seveney Always appreciate your chiming in on my questions. If I could ask another follow up, What does Brett Burky have to do with the platform? Did he start it?