All Forum Posts by: Chinmay J.

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. 

Why don't you put something out that is original than quote other people.. 

Happiness is a choice.. Real Estate has nothing to do with it per se. Personally, when I am learning, growing, reaching new heights I am happier.  Real Estate can be a great vehicle to learn and grow, so can other things.. 

@Abhijit Trivedi  - Dude that was awesome ! I was very close to reaching out to Spartan to book property that they recently sent me.. With my demanding 9-5 job, I am unable to do out of state investing w/o support system, and I was under the impression until this point that Spartan provides a superior support system. I have had several calls with Danny Cole, and even got preapproved from their preferred lender..

It seems that Spartan puts lot of restrictions on you like:

a) you have to use their preferred lender or have EMD of $5000 instead of $2500..

b) Absolutely no say in the tenants they place.

c) $500 renewal fee.. Danny Cole told me that most of their tenants renew for 3-4 yrs.. They gave me the impression that tenant turnover should be the least of my worries..

BTW - I am not new to real estate.. I own and self manage 4 properties in Northern VA, and used to be a realtor too. In 2021 I put my license i referral status as my job has become my primary focus. Considering various OOS markets for buy and hold better cash flowing properties, and I thought.. that Spartan fit the bill

*** CJ OUT ****

I sent you a connection request to connect re: Florida Market.  I am mostly interested in exploring JAX, and have never seen Fort Lauderdale even mentioned. I take anything close to Miami is going to be pretty hot.  

Why hasn't anyone said anything about Jacksonville, FL ? 

Thanks for all your responses and support.. I have dropped the idea or STR in the Miami area.. Sounds very appealing, but not really doable at the price point that I was looking for..

I would go w/landlord history with potential tenants. Their Income to Debt Ratio, not just credit score.. Yes, 700 seems to be a bit on the higher side.. My sweet spot is 650.  A lot of people may miss out on CC payment (which can affect their credit score), but pay rent on time