All Forum Posts by: Denise Supplee

There are many options, now. It is important to consider the fees charged. Some can be very high. I have used Paypal, Venmo, and Landlord Studio. Property managers use many of the same options available to all of us such as RentRedi, Zillow Rent Manager, Avail. There are so many. Just make sure you check them out, look at their reviews and ask them about issues with fraud. That has been a huge issue all around but there has been an increase in the rent collection sector. 

I live on a very busy street as well. I can deal with the cars, but we have huge semi's that make horrid noises. The back of my house is completely wooded. I have gotten used to the noise. It took several months. I keep either music on inside my home or the TV. And I will go outside, and when I hear the noise, I will look at the home itself and start listing the things I love about it. I know that sounds crazy, but it helped me. Now I laugh at the loud bumps and weird noises of the tractor trucks. I hope that it works out for you. I know how difficult it can be! 

Hello Rachel,

I am a Realtor in Pennsylvania. Commissions are always negotiable. It is important that real estate agents do more than many know; much in the background. Many believe that they put the sale together and then off to the closing table. However, there is more. They basically not only find a buyer or find a buyer a home, but there is alot of coordination that goes into a sale.  Additionally, there have been many changes in commissions and how they may be advertised and structured in the summer of 2024. Each state also has their own legal criteria. Your agent should be explaining this to you. I hope it all works out for you! 

Hello Brett,

It is important to take all costs into consideration. Routine maintenance and unforseen maintenance costs; insurance rates (they are increasing all over), property taxes and vacancy rate. Then management of the property. And if you choose to save the cost of a property manager (I have done this), there is the aggravation factor. I have owned and managed properties for over 30 years. I finally have decided to let all but one go and now invest with others in syndications such as large apartment communities, trailer parks, and even a steel manufacturing plant. I wish you the best of luck and please, put your numbers through an ROI calculator to assess your investment. The worst feeling is investing in a property only to end up losing money and your peace.

Welcome, welcome! I too am a Realtor in Pennsylvania! Nice to meet you! And much success, Fana, in all you do!

I have house hacked and it was awesome for the most part. I had an issue in a duplex once with a tough renter. And I was living below them so it made it tough as I was going through the eviction process with them. I have also rented out a detached garage. That was easy and it was nice to have a bit extra coming in. I also have hosted an international student with a program that pays. That was an amazing experience. Plus the amount they paid just about paid my mortgage. Now I coinvest with others in larger deals from apartments, trailer homes to industrial deals. 

Managing rentals when you are nearby can be challenging but out of state is pretty tought. If you can hire really good contractors to assist and a good manager/realtor-may be a possibility. But then you are managing them. Have you ever thought about investing in larger apartment communities with others? We do that and other investments in our investment club. It is a great way to diversify. We do a deal a month and each member only needs $5K (or more, if they want) to participate. 

You can try a business credit line. There is a company called Fund & Grow and they help you navigate this process and get between $50,000-$250,000 in combined business credit lines. They charge a (hefty) up-front fee, but they guarantee three rounds of financing over 12 months. And they get results.It works like this: for a one-time fee, they connect you with the best business credit cards available currently. They aim for 0% interest on all cards, for the first 9-12 months. They negotiate with the credit card companies on your behalf, helping you get the largest possible credit line. There is more info on my website. 

Curious, is there another address in your city/town using 1002? Have you considered using 1001 - Apartment A and Apartment B? And do you use a mailbox outside? If so, you can get the mail each day and deliver it to your renter. Have you gone to the township zoning to see if you could have the property legally split. This may be expensive and not worth it but having it legally split, may also increase value. 

Hello Dana, I am co-founder of a co-investing club. And ironically, we are investing in a private note currently. And we have before. We have had good outcomes. What is nice is that we invest as a club. Each member contributes at least $5K but can put in more. And more often than not we get preferred interest because of the amount we contribute together as a club.