Skip to content
×
PRO
Pro Members Get Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
$0
TODAY
$69.00/month when billed monthly.
$32.50/month when billed annually.
7 day free trial. Cancel anytime
Already a Pro Member? Sign in here
Pick markets, find deals, analyze and manage properties. Try BiggerPockets PRO.
x
All Forum Categories
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

All Forum Posts by: Clay O.

Clay O. has started 0 posts and replied 101 times.

Post: Electronic Rent Collection Systems

Clay O.Posted
  • Investor
  • Tulsa, OK
  • Posts 102
  • Votes 88

I just set up erentpayment.com last month and it worked out well so far. It was easy to set up and the tenant liked it. 

Post: Rental Property Advice!

Clay O.Posted
  • Investor
  • Tulsa, OK
  • Posts 102
  • Votes 88

It sounds like at the very least you need to repair the drain field on the tank that has been pumped 5 times in the last few months. If your not aware you should be able to go at a minimum of 2 years before having a tank pumped. I have one property that has gone 8 years and is still working fine. You might get away with having it pumped a few more times before sewer is installed but then again you might not. It may be as simple as replacing the main line out of the tank that goes to the drain field but you wont know until you dig it up, so I would plan for the worse case scenario. You will need to figure out your walkaway number or if your willing to pay to have these fixed if necessary. Do your numbers work if your ARV is 185K? 160K for purchase 10k for repairs and 15k for drain field repairs? If not then it might be time to walk away.

Good Luck.

Post: Negative Nancy Naysayer Family Members

Clay O.Posted
  • Investor
  • Tulsa, OK
  • Posts 102
  • Votes 88

@Jessie Nunley I agree with @Linda S. don't worry about them. (BTW that was an awesome quote!!) Those are the type of people that will get to the end of their life and say "I wish I would have done this or that".  If you haven't read Brandon Turners book "The Book on managing Rental properties" you need to get a copy of it. It will give you the confidence to move forward and it is one of the issues he addresses... below is a quick excerpt from his book. 

Good Luck 

"Most of the time when we try to explain

what we do, we get a lot of blank stares and glossed-over looks. If

you haven’t found that out yet, you will. The world just doesn’t get

us. They don’t understand the passion we have for financial freedom.

Most people fall into one of two camps:

1. Those who think you are crazy for trying.

2. Those who think you are just greedy.

Can you relate? Most of your family, friends, and almost anyone else

you talk to will fall into one of these two camps, though if you’re

lucky, they’ll simply be happy for you. They’ll discourage you, try to

tell you all the reasons why it won’t work, and try to talk you back

into the routine 9-5 life they feel comfortable in. Screw that - you

don’t feel comfortable there, and you shouldn’t! So how can you get

out there and talk with people when no one wants to talk? Easy: You

need to find the right people."

Post: Appraisal came back the exact same amount as my asking price

Clay O.Posted
  • Investor
  • Tulsa, OK
  • Posts 102
  • Votes 88

Yep same here... In my experience it usually about 2K more than the agreed upon price. 

Post: Excel Sheet for property management

Clay O.Posted
  • Investor
  • Tulsa, OK
  • Posts 102
  • Votes 88

Hi @Diskin Young - This is very simplistic. You have tab for income / expenses and then a summery tab. This is for one property so I am not sure that this will work for you, but it may give you a good start. 

https://petroskills.box.com/s/kd5dlsy7l8oe5niyu66d...

Post: Online Rent Collection without partial payments

Clay O.Posted
  • Investor
  • Tulsa, OK
  • Posts 102
  • Votes 88

@Ray Lai Will do!!

Post: Good third party website for rent collection

Clay O.Posted
  • Investor
  • Tulsa, OK
  • Posts 102
  • Votes 88

I went with ERentpaymet the setup was easy and the tenant said their set up was easy as well.    https://www.erentpayment.com/

Post: Online Rent Collection without partial payments

Clay O.Posted
  • Investor
  • Tulsa, OK
  • Posts 102
  • Votes 88

I just set up ERentPayment last week and they give you an option to accept partial payments or not.

Good luck!!

  https://www.erentpayment.com/  

Post: Hello From Tulsa, OK!

Clay O.Posted
  • Investor
  • Tulsa, OK
  • Posts 102
  • Votes 88

 Congratulations on your MFP!! I have a couple of single family's and in the IT world as well. 

Welcome to BP!!

Post: Heating options in a rental house

Clay O.Posted
  • Investor
  • Tulsa, OK
  • Posts 102
  • Votes 88

I had a house this size and put in a mini split system. This worked well and didn't take up the needed floor space for floor vents. Yes it will probably be about 5K to purchase an install but as Scott stated they are a heat pump and may have problems in colder climates. I live in Oklahoma so no issues.

I have seen wall mounted vent free heaters work as well but you will have to run gas to it. 

http://www.homedepot.com/p/Dyna-Glo-30-000-BTU-Blue-Flame-Vent-Free-Natural-Gas-Wall-Heater-BF30NMDG/206556618