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All Forum Posts by: Mo Thomas

Mo Thomas has started 7 posts and replied 27 times.

Foreclosures

Post: Tax lien Third post sale

Mo Thomas
Pro Member
Posted
  • Real Estate Investor
  • East Meadow, NY
  • Posts 35
  • Votes 1

Anyone familiar with Third Post Sale?

0 Votes
Real Estate Technology

Post: Is anybody using Google Wallet to collect rent?

Mo Thomas
Pro Member
Posted
  • Real Estate Investor
  • East Meadow, NY
  • Posts 35
  • Votes 1

@Igor S.do you still use Venmo to collect rent and if so how is it working for you?

0 Votes
BiggerPockets Exclusive PRO Area

Post: Best way to Pay rent online

Mo Thomas
Pro Member
Posted
  • Real Estate Investor
  • East Meadow, NY
  • Posts 35
  • Votes 1

@Paul Ronto

What are some of those accredited payment systems out there that work well with rental properties?

0 Votes
BiggerPockets Exclusive PRO Area

Post: Best way to Pay rent online

Mo Thomas
Pro Member
Posted
  • Real Estate Investor
  • East Meadow, NY
  • Posts 35
  • Votes 1
Originally posted by @Joseph Delarosa:

@Mo Thomas I Use quickbooks online. I send the rent invoice on the last day of the month to the tenants. They then review and pay.  Tenants can pay with credit card if they need to. The good about quickbooks is that it is scale-able. I can tell who pays, when they viewed the invoice and by how many days its past due. Its helps for tenants that pay on the 1st and 15th. There is no confusion.  The funds go directly into my account. Easy and fast system to use system. Plus, my CPA can review my account anytime i have questions or need an update.

Joseph,  what type of monthly fees are you paying for quickbook online and are you using the rental property version of quickbooks?

0 Votes
BiggerPockets Exclusive PRO Area

Post: Best way to Pay rent online

Mo Thomas
Pro Member
Posted
  • Real Estate Investor
  • East Meadow, NY
  • Posts 35
  • Votes 1

@Steve Hodgdon I have thought about using another online platform like Venmo don't know how well it will work in regards to rent collection.  I have some tenants that still purchase money orders and cashier checks and mail their rent.  I am trying to move away from that system.  The next option I will probably try is cozy.co

 
0 Votes
BiggerPockets Exclusive PRO Area

Post: Best way to Pay rent online

Mo Thomas
Pro Member
Posted
  • Real Estate Investor
  • East Meadow, NY
  • Posts 35
  • Votes 1

Joseph, what system do you use to collect the rent.  Due the tenants pay online or just deposit the rent into your bank account.

0 Votes
BiggerPockets Exclusive PRO Area

Post: Best way to Pay rent online

Mo Thomas
Pro Member
Posted
  • Real Estate Investor
  • East Meadow, NY
  • Posts 35
  • Votes 1

Thanks, Chase.  I was considering Cozy, but need to look into it more.

0 Votes
BiggerPockets Exclusive PRO Area

Post: Best way to Pay rent online

Mo Thomas
Pro Member
Posted
  • Real Estate Investor
  • East Meadow, NY
  • Posts 35
  • Votes 1

Chase is a great option, however the tenant has to have a chase account or be affiliated with a Clearxchange bank.  I have not thought about using PayPal as an option.  I will have to do my research on it.

0 Votes
BiggerPockets Exclusive PRO Area

Post: Best way to Pay rent online

Mo Thomas
Pro Member
Posted
  • Real Estate Investor
  • East Meadow, NY
  • Posts 35
  • Votes 1

I used to use google wallet then they cancelled my account.  They stated I was using the platform for business and that went against their policy.

0 Votes
BiggerPockets Exclusive PRO Area

Post: Best way to Pay rent online

Mo Thomas
Pro Member
Posted
  • Real Estate Investor
  • East Meadow, NY
  • Posts 35
  • Votes 1

What is the best way to have tenants pay rent online?

1 Vote