All Forum Posts by: Roshan K.

I set out to reach financial freedom at the age of 25, so this topic hits home for me. I'm 26 now and 10 rentals under my belt. At my current rate, I will be financially free before 35, so yes it is possible. I do obsess about financial freedom and "retirement" so that is a game changer. 

I believe it is possible for any 25 year old to become free by 35. Just depends on how bad you want it. 

I completely agree. You have to buy really well, especially now. And dropping price to make it a good deal for them may destroy some, if not all, the profits. When I was there a couple weekends ago I saw tons of ads for first month free with lease signing or first month $500 off. I guess that can be attributed to the timing of the school cycle right now, but that's not the best sign for a landlord. Just my two cents.

Just a few minutes away is the rest of the OKC metro where you don't have to deal with that. Doesn't make sense to me to invest in Norman for the time being, unless you get a screaming deal 

From what I was told:

Don't invest in Norman. There's been a huge influx of large apartment buildings and not enough renters!

Cozy doesn't accept payments by check so huh????

You're setting yourself up for abuse since you have no control if they pay the full amount or not. If they pay half the rent or even say $100, then you can't evict them that month as they have made a partial payment. With the online services, you can halt payments to avoid this exact situation. 

That sounds like a worse version of Cozy if you have to pay for it??

How do you set up your own ACH?

Jay, regarding your other posts, Cozy does not make money off the tenants if they use bank. If using CC, there is a charge. Cozy does not charge landlords either. They do hold your payments for 5 BUSINESS days which equates to 7 to 8 days usually. And up to 10 days on holiday weekend ie Labor Day due to banks being closed. 

Cozy makes money from "expedited" transfers. $2 per door per month, if at least one payment is made. Transfers drop from 5 business days to 3. Doesn't make sense to me so I don't do it. 

Cozy also sells screening tools and lists to realtor.com and others if you would like. I imagine money is made in the screening portion as well. 

I've only ever had good experiences with Cozy. I think it's your tenant who screwed you over. Pearl to take away from this is:

ALWAYS ALWAYS ALWAYS get your security deposit and first month in certified funds!!!!

I set up Cozy to work the 2nd month to end of lease

Just rented out my last house two days ago. It snowed all day yesterday.

If you feel like it's hard to rent, lower your price. Vacancy is your biggest expense. If you feel like the house is worth more, make a 6 month lease or some kind of lease ending in summer so that you can renew the lease and raise the rent. And if the tenants want out, then you at least have higher demand. 

My last house was on the market for 1 day prior to being rented out. 

 anything up to a 4 plex is considered residential