All Forum Posts by: James Nix

Thank you @Ned J.& @Michael Noto 

For your thoughts 

So let me just update everyone. After I sent that message above in previous reply. I get a notification of the full rent payment from PayPal.

She sends this text message after: “Let’s just forget that I asked. Thanks! Have a great weekend”

This is weird but thank you everyone for your help 

Thank you @Wayne Brooks @Andrew B. @Marci Stein & @Max T. for your replies. From everything I texted her this: (if you can please look to let me know if i am being firm but fair with this response or if I’m totally wrong) 

The Response:

So 4 Things

1. I need the $18 to be paid in less then 10 days from the date of the $737 being paid.
2. I want you to know very clearly I will not accept this arrangement again & i will continue to serve the 5 day vacate notice if this were to happen again.
3. Please understand I am Only doing this because I know you are a good person & I believe you have been a good resident in my eyes but I want you to know I do not mix personal with business.
4. So please understand Rent is a priority & you need to continue to align your finances that way so that this won’t be an issue again.

Title should be- “Tenant wants to pay part of the rent late without late fee”

Sorry, Im using mobile and they won’t let me edit the title name 

Hi everyone, was wondering what would you do in this situation renting to a tenant in one of your units. Rent is $755 & she has never paid rent late. (4 months of payments) 

This is the text message: 

Hey Jimmy, I hope you had a wonderful week.
I’m contacting you to let you know that I was able to (literally) scrape up 737. For this month’s rent & was wondering if I can send you over that tonight & have the $18 at a later date without having a late fee or vacate notice?

Look into house hacking... you don’t have to put much down depending on where you live (3.5% of the purchase price) instead of the 25% down payment you thinking about. 

Also having a lot of money for reserves is a great idea 

Hi Erin, 

I want you to know this is a great step into changing how you feel right now by posting on the forums because you just took some kind of action. 

Now keep taking actions by private messaging people who reach out and give you advice on this post.

I also believe 99.9% that you are discouraged right now because you are not educated enough to feel comfortable with stuff. 

Please go listen to the podcasts, watch YouTube videos, & read books You will feel 100 times more comfortable then you are now 

@Justin Crotts

The Book on Rental Property investing by Brandon Turner

Covers everything your asking from getting familiar with the types of bank loans in real estate coming from a no debt lifestyle to how be a successful landlord. 

If you don't live reading books I would advise the audio version. I just got my first rental back in February & this boom was huge in my process. 

I Highly recommend & love these books: 

- Wealth Can’t Wait by David Osborn 

- The Compound Effect by Darren Hardy 

- The Magic of Thinking Big by David Schwartz 

Read or get on audiobook - Set for Life by Scott Trench

Exactly I mean exactly what you need to hear in the first few chapters of that book.