All Forum Posts by: John Newman

Hi @Nancy Bachety and @Chris Martin,

Chris seems like he really knows his stuff.  I would still like to offer a contrary opinion on Artelye in Raleigh.  My partner and I contracted them to install granite for a kitchenette.  We chose them mainly because of their price (lesson learned).  We had major problems with them.  They actually installed the wrong granite.  We tried to resolve the issue with the office manager, but eventually had to stop payment.  There are lots of granite companies in the triangle area, so I recommend getting a few quotes.  Based on our experience, I would definitely not use Artelye.    

Hi @Anna Fuchs,

Congratulations on becoming a landlord!  

I am also in the no rent check club.  Depositing paper checks has become easier with mobile banking apps so you can put the rent in your checking account at any time from the couch.  However, if your rent checks are going to a PO box, you're still going to have to make a trip to get paid.  This is not scalable or passive. I want to make it as easy as possible for my tenants to pay rent, and as easy as possible for me to get the rent into my account.  

We looked at several payment options, and settled on Cozy for a few reasons.  First and foremost, it's free for both tenants and landlords when using an ACH bank draft.  I only want tenants with an active checking account in good standing at a major bank.  If they don't have one, it could be because they owe someone money, but not always.  This is a red flag for me that I learned the hard way.  

The second reason I like Cozy is because they have an option for tenants to setup automatic monthly payments.  I'm a set it and forget it kind of guy.  My belief is that if the tenants don't have to remember to pay rent each month and it happens automatically, I'm more likely to receive rent in a timely fashion.  

Third, it gives the ability to add one time charges such as a pet fee or late fee, and you can add offline credits.  

My only complaints about Cozy are that it takes several days to receive payments (not such a big deal for me as I don't run my accounts that low) and that they don't have an Android app (but the website works pretty well on a mobile device).  I'd also like to see an automatic late fee option.

If your tenants already want to pay rent electronically, I say you got a winner on your hands!  Go for it!

Hi @Alex Yost, 

We've used The Mad Hatter.  http://themadhatter-nc.com/

We paid about $150 for a Level I sweep in our two story, masonry chimney.  They were prompt and clean.  

Beware of those $40 prices you see online.  Many of them charge an additional fee over 10 feet, and some are scammers just looking to get in your house and try to tell you that you need a whole bunch of other services (that they can provide for an additional fee).  

I would ask whoever you choose about how they clean the chimney, do they use a rotary brush, what dust containment they use, etc.  The pros will be able to answer and educate you, letting you know who is the real deal and who isn't.  

@Jenna Cameron and I will both be there!

Hi @Victor Olowu,

We've had a great experience at Coastal Federal Credit Union.  They are local in Raleigh and you can go into a branch and talk to a loan officer.  I know they have some portfolio loans and some that get sold.

@Jenna Cameron and I will be there tomorrow!  See you all then!

Hi @Donta Busch,

Can you tell us who is the local electric utility?

Do you know what they charge per kilowatt-hour?

Another option is the Fannie Mae Homestyle Renovation Loan.  It covers the purchase price plus renovation costs.  This program is a little more flexible than the 203k, and they have low down payment options too.  I have a great lender that I've worked with and can recommend if you'd like.  

Hi @Aaron Alexander,

Welcome to BP!  Holly Springs is a growing area.  I am just down the road in Fuquay-Varina.  You should check out our monthly meetup.  It's free and there's quite a few people who join us.

I highly recommend tile flooring. It's cool to the touch and feels good on bare feet in hot climates.  That's why you'll see Fluffy spread out on the tile floor with his tongue hanging out when he gets hot. Tile is also more traditional in those parts of the country than wood. 

The material cost is roughly the same compared to hardwood or laminate, but labor will run a little higher. This is because you won't be just laying down planks, but actually mortaring in the tiles and grouting all the joints, making sure the spacing and lines are even. 

Get yourself a quality tile, not too thin, and have it installed by someone with years of experience. Laying tile is a bit of an art form.

Irregular patterns can increase the cost because they require more cuts, thus more time and materials.

If you do these things, the floor should last a very long time. Tile is durable and wears well. You can repair individual tiles by cutting them out with an oscillating tool. Oh and don't forget a good coat of sealer. This will also make the floor last longer.