All Forum Posts by: Lacee Beitler

Hi everyone! For any one who collects rent via Cozy (or any online payment processing), I have a question about when the payment processes vs when it's received: We love using Cozy and so do our tenants, but Cozy takes anywhere from 4-8 days to process a payment. In our leases, we have rent due the 1st with the grace period extending to the 5th or else a late fee of $50 is charged. If rent is still "processing" on the 5th , do you still charge a late fee? What if rent was submitted on the 30th of the previous month, vs the 5th of the due month? Looking to see other investors online payment experiences. Also, does anyone use Venmo for rent payments? This seems pretty quick to process and I wonder if it's worth it to switch over. Doesn't seem like there are any fees for business transactions, but I only quickly glanced at their policy. Thoughts? Experiences? Thanks!

Thanks Anthony Angotti - I heard they are very particular about the 7% tax, so just proves that we have to be diligent about that. And thanks Dan Mason - glad to hear your success. How many AirBnB's do you operate and where are yours? We wanted to aim for south side (possibly slopes) or maybe the north side. And we figured on furnishings, but glad you pointed out to add the costs of pots and pans and other "homey" touches you need. Looking online, it looks like these AirBnBs are like mini hotels - they're beautiful!

Hi everyone! Looking for my Pittsburgh investors who have airbnb rentals. Anyone want to share their experiences? We have a great unit that we are considering turning into an Airbnb once our tenants lease is up later this year. Im just curious how well these do, and what "markets" do well (I'm assuming anything close to/in downtown). Thoughts? Experiences? Thanks!

welcome to BP! Good luck on your first deal... This is the best and most supportive place for you! We all want each other to succeed. 

Best of luck! Let me know if you need any recommendations! 

Hi everyone! Looking around for a mortgage company who offers 203K / rehab loans (or some variation) for our future primary residence in Pittsburgh (for once we are rehabbing our own house!) House will not quality for conventional or FHA loan (needs 60-70K in work, has no kitchen, needs new Windows, a new roof, house is in middle of a rehab). Shopping around for best terms and options that will work for us! Thanks in advance! Have a great day, fellow investors!

Hi everyone! For the investors out there stuck with some serious college student loans... Did you consolidate? If so, how and through who? My loan(s) are constantly being "sold" and my variable interest is outrageous. On one loan my interest rate is 8.9%. Makes me sick... That's my money I could be investing!! Did anyone use a HELOC to pay theirs off? Since investors have to be financially creative, I thought this was a good crowd to ask :) Thanks!!

hi @Andy Ballester and @Account Closed , I recently heard S&T bank is pretty investor friendly and their seasoning period is shorter than a typical bank. We have no experience with them, but I'd be curious if anyone else can confirm? 

hi @Megan Hirlehey, welcome to BiggerPockets! I'm a fellow investor in Pittsburgh, so let me know if you have any questions! Happy to share some insight, though it sounds like your dad knows what he's doing in this space as well... Lucky for you! 

Best of luck! 

Lacee 

Hi @Warrick Wadman - where are your  properties? My husband and I live/invest here, maybe we could take some off your hands? 

Hi Everyone! Happy Friday! Question about a HELOC: My husband and I currently own 2 duplexes and have a triplex under contract. We are using a conventional loan to cover 80% of the deal. For the remaining 20% + closing costs, we have to get creative :) The two duplexes we have owned for 1 and 2 years, and there is a lot of equity in each (bought through conventional loans by ourselves) Can we use a HELOC on one/both to cover the downpayment/closing costs on the new triplex? (By the way, We can use private money, but the cash flow takes a big hit. If we go this route, we have never used private money and would need some help constructing and executing that part of the deal :) how does it work? What are some examples of this, what does it look like? What's typical repayment time? Etc. ) Thanks in advance!