All Forum Posts by: Phillip Black

Thanks Paul. Looking to purchase 2 commercial buildings

Alex

appreciate the sound advice. Thanks for reaching out

I am looking to complete a 1031 Exchange on the sale of a few rental properties. Does anyone have experience completing this process and could you recommend a trustworthy service provider in New Jersey to complete this transaction on my behalf.

@Eli M.

I use Cozy.co and have for years. They have a great platform and make the process extremely easy. Online rent collection and ACH transfers is the best collection method in my opinion. It allows you to scale your rental portfolio and protects both tenant and landlord as all monies collected have a paper trail of when payment was made and for how much. You can check on payment status at anytime from anywhere all from your phone.

@Dakota Wilde

Which PM software do you currently use

@Clay Rempe

Clay could you explain how you are collecting late fees. As far as I know on the Cozy app you can select a day when you want to start charging late fees and an amount you would like to charge.

For example if my late fees are $5 a day starting on the 2nd day after rent is due then Cozy will automatically charge $5 to the tenant on the 2nd day. If the tenant does not pay rent until the 12th of that month Cozy does not automatically calculate the late fees that would be due. I would have to go into the Cozy app and add in the addition late fees due once the tenant made payment. Please let me know what system you have set up through Cozy to collect accruing late fees.

@Marvin Bobb

I use Cozy.co and have been for a few years now. We have a large portfolio of 50+ SFH and love the Cozy platform. It typically takes about 5 days to receive the ACH transfer from your tenant but far exceeds any other collection method I have tried in the past. Only downfall is late fees are not automatically calculated but Cozy management stated they are looking into adding this feature in the future. Now that Cozy Was bought by Apartments.com I imagine it's only a matter of time that they add this feature as they work to dominate this space!

@David M.

Getting your license is key to being a successful investor