All Forum Posts by: Chinmay J.

Yes, the mom and pop investor is dead if you are expecting instant gratification, and going by 2% rule.. 

However, if you have time to wait, and patience, you should have a greater chance of doing well in the longer run - especially in a buy and hold business model. 

Thanks Jessee.. I definitely will. 

Quick Question though..  My closing is scheduled to be Wednesday (11/9), and I haven't still received the file closing disclosures (CD).  Per TRID rules I should have received them 3 days ago, right?  Now Monday was a holiday, so I should have really received them on Friday. 

Am I right, or am I m missing something?  Again this is a refi not a purchase, but from TRID perspective, I don't think it makes a difference.  In the past I remember receiving the disclosures correctly. 

It seems that my issue was resolved yesterday shortly after I made the post. The lender extended the lock by a week and we are closing on 9/8 on both the properties. He did not say anything that I had to pay for the extension, and I didn't bring it up. 

Yes, definitely was his slow response that resulted in the delays..My turnaround time for the documents was 24 hrs or less.. I am very diligent person when it comes to my finances and record keeping.

Thanks that insight helps. 

We, collectively as BP community, are very happy you have found your sweet spot, but that doesn't answer my question..  But thanks for chiming in.. Anything else we need to know? LOL.. 

I have been on my lender's a$$ to close on refi for about a week now.. I have email from the admin lady (the lady who work's for the lender) that the lock expires on 9/2. Last night I got email saying that he is working on last condition w/ the underwriting department. Today is 9/1.  Is this too late already ? Does he need to lock again.. I got really good rate the first time around at 3% or 30 yrs fixed rate with very reasonable lender fees for investment property.  I couldn't have gotten lower rate, but I couldn't have gotten more slower service from this guy either..  The sh1t keeps dragging on and on and on.... 

Stocks.  More lucrative than real estate at the moment..  No longer work as realtor. Ain't got patience for it no more.. 

I throw up in my mouth when I see where our culture is heading with this unnecessary political correctness that adds zero value.  This is the reason why the demagogues like the "former guy" get installed in position of power.. 

If you really need a hobby, and have too much time on your hand, I can recommend a few.. 

They have a cap on daily limit.. My rents are upwards of $1500.. So might not be a good choice for me.. 

I usually give my tenants two options.. Either deposit a check in the bank closest to you, or remit the payment via Venmo.  Most of the tenants choose latter.  

Venmo had been working out great so far, but last month they sent email saying that they will be adding 1.9% fee to any transaction that is labeled as "goods and services". It seems they want to start charging customers who use their platform for business, and only want to keep it free between friends and families. 

I was thinking of moving my tenants to CASH APP or Zibo ! What are your experiences with either.. 

I have limited experience with CASH APP. One tenant pays through cash app, but her portion is only $400. Rest of it is paid by the county under Sec 8. I did some research and it doesn't show that CASH APP has any restrictions as far as cap amount is concerned. (Zelle for e.g caps you at $500 per day)

Has anyone here used Zibo? How was your experience.