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All Forum Posts by: Ozzie Feldman

Ozzie Feldman has started 1 posts and replied 3 times.

General Landlording & Rental Properties

Post: Tenants paid full rent late, but have not paid late fee

Ozzie FeldmanPosted
  • Centreville, VA
  • Posts 3
  • Votes 2
Originally posted by @Thomas S.:

"Do you have a security deposit?"

You must check with your state regulations. IN most cases security deposit is only for covering the cost of tenant caused damage after they move out. Any other use is normally illegal.

As stated $25 is not enough to teach any tenant to pay on time. A rent reduction for late payment of $100 that stay in place till they have 6 months of on time payment is far better. That is in reality a $600 penalty.

Set your rent at market then raise it the $100 explaining to tenants how it works.

I use a $190 penalty. Late is any time after midnight on the 1st of the month.

 That's wayyy too harsh. You'll be evicting tenants every other month.

1 Vote
General Real Estate Investing

Post: What has real estate investing done for YOU?

Ozzie FeldmanPosted
  • Centreville, VA
  • Posts 3
  • Votes 2

Just a small tip for all of you who don't have a mortgage.

Just get a a mortgage. Interest rates are super low and it WILL go up. Take that equity and put it into a rental. You will be a lot richer.

I love reading everyone's posts though

0 Votes
Virginia Real Estate Q&A Discussion Forum

Post: Lake Anna Vacation Rentals

Ozzie FeldmanPosted
  • Centreville, VA
  • Posts 3
  • Votes 2

Hi guys,

Does anyone here have experience with Lake Anna rentals? I was thinking about buying a waterfront property down there but I'm not sure what the demand is like or if it's too risky. I used to rent houses down there at 400/night and they'd usually always be booked through summer.

Thanks,

1 Vote