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All Forum Posts by: Rich Schmidt

Rich Schmidt has started 2 posts and replied 102 times.

Post: SmartMove vs zora.io

Rich SchmidtPosted
  • Investor
  • Valparaiso, IN
  • Posts 103
  • Votes 65

I use cozy.co right now, having used smartmove in the past. I'm with them primarily for the free online rent collection.

I'd never heard of zora.io until now. Has anyone used them? Feedback?

Post: Do your tenants call/text your personal cell phone?

Rich SchmidtPosted
  • Investor
  • Valparaiso, IN
  • Posts 103
  • Votes 65

I only have 5 tenants, and they're decent properties in a good neighborhood, so it's not annoying for them to occasionally call or text me directly.

I have a google voice number and would use that as some others have described if I had more/annoying tenants.

Post: My Tenant has Cancer, rent is late...now what do I do

Rich SchmidtPosted
  • Investor
  • Valparaiso, IN
  • Posts 103
  • Votes 65
Originally posted by @Patrick L.:

I keep a list of local charities and organizations that provide rent and utility assistance.  When someone gives me a story about why they can't pay the rent I send them that list and they can do the leg work and try to chase down some assistance.   There are a lot of churches, charities and government programs to help keep people from being evicted, especially if it's someone with a short term issue.  

 This. All day long.

I'd want to work with her, too. And you have been. But you'll have to draw a harder line at some point, which she can probably meet with the help of family, charities, churches, government programs, etc.

As others have said, at the very least I'd offer to let her out of the lease if it's clear she can no longer afford it. Of course, from her perspective, that may give her no place to go...

Post: Take an Investor Survey

Rich SchmidtPosted
  • Investor
  • Valparaiso, IN
  • Posts 103
  • Votes 65
Originally posted by @Dave Meyer:

Thanks everyone for participating! We're still accepting submissions and could use some more. The stats nerd in me needs some more entries for statistical significance. Keep em coming! 

Stay tuned, as I'll be writing up a summary of the findings. Should be really interesting. 

 I hope you'll take the feedback here seriously. There's no way to find out anything "statistically significant" from a survey like this.

Post: Take an Investor Survey

Rich SchmidtPosted
  • Investor
  • Valparaiso, IN
  • Posts 103
  • Votes 65

Tried to fill it out, but my answers of "not sure" to the money questions weren't accepted. I suppose I could fill it out again with 0's in each box, because all "profits" are currently reinvested.

I recommend BP to anyone I talk to who asks about real estate. That's a 10 for sure!

Post: How do you "harden" your rentals?

Rich SchmidtPosted
  • Investor
  • Valparaiso, IN
  • Posts 103
  • Votes 65
Originally posted by @George P.:
Originally posted by @Rich Schmidt:
Originally posted by @George P.:

Bump for the new users

Bummer. I got the email saying there was a new post, and it's just "bump." :(

I'm looking forward to any new ideas people share! I always learn a lot here. (Which is why these "bump" posts are so disappointing/frustrating.)

If you want to be Sheldon, be my guest. :)  I've been away from these forums for a while. On others where I participate, "bumps" like those are deleted, and people are asked not to do them. Because they're annoying (like Sheldon!) and waste people's time. If people want to "bump" a thread, they're asked to come up with a worthwhile contribution to the topic instead.

Post: How do you "harden" your rentals?

Rich SchmidtPosted
  • Investor
  • Valparaiso, IN
  • Posts 103
  • Votes 65
Originally posted by @George P.:

Bump for the new users

Bummer. I got the email saying there was a new post, and it's just "bump." :(

I'm looking forward to any new ideas people share! I always learn a lot here. (Which is why these "bump" posts are so disappointing/frustrating.)

Post: Seeking investor friendly insurance agent in/around NW Indiana

Rich SchmidtPosted
  • Investor
  • Valparaiso, IN
  • Posts 103
  • Votes 65
Originally posted by @Erick Caffarello:

I was not impressed with Erin / Shelter Insurance. For the most part, I'm happy with the Masterson Agency in Valparaiso, Indiana. (Apparently putting their phone number here is against the rules...) They have the best rates around for the most part. For my rentals, on average, I pay about $50-60/month for replacement cost coverage. I believe they're only licensed in Indiana. They work with AAA, Grange, Foremost, etc. The only area they aren't too competitive on auto, though, but it's like a $30 monthly difference or so. Just easier to have everything under one roof. The rates would have to be significantly lower to get me to switch. 

Erick, I'd be interested to know what other companies/agencies you checked with before deciding to go with the Masterson Agency. I know the Mastersons and like them and keep meaning to have them quote me for our rentals, house, cars, etc, but just keep not making the time. Right now, we're scattered across 3-4 different agencies, and it's a bit of a hassle. If there are any you ruled out, I'd love to learn from your recent experience. Thanks!

Originally posted by @Brian Jurvelin:

Update: The landlord reduced the deductible to $100, which I don't have to pay for any repairs found when I go through my move-in checklist.  The landlord has been very easy to deal with minus this one detail and we loved the place so we signed the lease.  Thanks again for all the helpful responses.

Thanks for the update, Brian! Glad to read that you were able to work something out that works for both you and the landlord!

Post: When is the next NWI meet-up?

Rich SchmidtPosted
  • Investor
  • Valparaiso, IN
  • Posts 103
  • Votes 65

Is there a group that meets in Valparaiso or Porter County? This is a very-part-time side gig for me, so I try to keep it all closer to home. It seems like there's enough real estate investment happening in Valpo and Porter County to sustain a group/gathering...?