All Forum Posts by: Kevin Phu

I should be able to make it! Looking forward to it! Might bring my gf if she's available. We are on the hunt for a local SD property (South Park) is one of our targets as well as out of state properties possibly in Indy and Huntsville. 

Thanks for the advice! I use Cozy for rent collection but never explored using it for financial tracking *face palm*

Hey all! Hoping to get some advice from my fellow landlords who manage their own properties. I currently have one SFR (4 bedroom) that I rent out room by room. I do my own finance tracking through some basic Excel spreadsheets and I am looking for a better, more efficient way to keep the books. The main goal is to get a finance system working that is intuitive and will allow me one day to outsource it when I grow my portfolio.

One option I have been looking at is using Quickbooks to log all the expenses and income. Would this be a good start and worth the cost? 

Do you guys have some tips and lessons learned for a noob landlord like me? 

Hey Jeffrey! I would like to try and make tonight's meet up and I will for sure make it to next Friday's bi-weekly meetup!

 Sorry that I couldn't make it :( Hopefully I can make it to the next one!

Will try to make it to this event! Love connecting with liked minded individuals! 

I am going to try and make this one! Just moved back to San Diego and looking to expand my REI portfolio and network. Plus, I live down the road and I love stone beer!

I have a tenant that is a friend and former coworker who has been late on rent 4 times in the past 12 months. He has auto pay set up but due to some financial issues, the account sometimes has insufficient funds so his payment will bounce. When it does, he immediately takes care of it.

When I signed him on as a tenant, I did not collect a security deposit from him, nor did I include late rent fee policy in his lease. I want to keep him as a tenant for multiple reasons. I know he has a steady income in a very secure job. He's saving a lot of money renting from me which helps him because his ex-wife pretty much bankrupted him but he didn't want to file bankruptcy and his been doing a very good job getting back on his feet.

He is a no trouble tenant aside from the occasional late payments. Should I collect a retroactive security deposit from him and also add on a late fee policy to his lease? Is that even legal to do so? What advice do you guys have?

It is a house hack so I actually live in the property itself.  However, I am moving 200 miles away this week and will still be managing it on my own. I have very easy tenants. 

I've been using Cozy for almost 2 years now. Easy to use and it's free. Money hits your account in about 4-5 business days. If you want it in 2-3 days, it costs something like $5 per transaction. I don't even bother. It's only a few days and not really worth it. My tenants have never had an issue using Cozy.