All Forum Posts by: Don Daniels

Also, consider using a free online rent collection site like cozy.co and this can't happen in the future. Who wants to go to the post office anyway :)

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Tenant needs to contact their bank and file a fraud report to have their money returned. If you believe they're being truthful you should give them some grace while they get it sorted

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I voted "other." Consider adding hard money as distinct from private money

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Thoughts on this type of deal? Newly remodeled, previously flooded, 18% cash on cash, 85% return on equity, 31k down, 4 junk cars next door in the driveway, quick access to hot part of town

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I use rentmonitor.com it can be used to collect app fees, provide credit and criminal background check, automatic late fee collection etc. It's $2.50 per transaction (billed at the 15th of the month)

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@Cody Blackburn $11k could fund a great deal of direct mail marketing if you're interested in wholesaling. Wholesaling's like pimpin though... it aint easy :)

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@Shawn Ackerman its a tough call admittedly. I did this in September knowing my tenant accidently forgot to pay. They apologized, paid and we moved on. I don't expect there will be a problem going forward. Its a matter of precedence and principle for me. If the tenant isn't going to pay I'd rather admit that now and move on - why set myself up for several problems over the course of the lease when I can limit it to one. That said, I do have the benefit of being in a landlord friendly state.

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All Forum Posts by: Don Daniels

Don Daniels has started 14 posts and replied 75 times.

Post: In 3 words, describe your 2017 Real Estate goals

Post: waiting until the next crash?

Post: First time Rental. December Traffic

Post: Someone else received my rental check and cashed it...

Post: Someone else received my rental check and cashed it...

Post: POLL - How Did You Come to Own Your First Rental Property?

Post: Buying flood houses

Post: Best Method For Collecting Rent

Post: What should I do with 11k?

Post: Accept partial rent or give a 5 day pay or quit notice.