All Forum Posts by: Ray J.

It will "show" every hard pull, but I have also heard that it will "count" only as one for calculating your score. 

I have not heard how it counts when more than one of the hard pulls turn into actual loans. 

Welcome Kevin! 

I know it's late, but I also have been using Cozy.co (Apartments.com) for about 3 years and it works great.  I was in a situation where I needed more flexibility and features (I managed a property for someone else), so I opted for TenantCloud.com and have also been using it for over a year.  It's a bit more customizable and flexible in other areas too, but of course with that also comes a higher learning curve.  Not too bad though, but now I prefer it over Cozy only for that reason.  I still have a few tenants on Cozy because I don't want my tenants to have to go through the trouble of switching, but all my new tenants must get a TenantCloud account. Although you can use its free account to keep track of things, the downside is that it costs $90/year or $9/month for a Standard account to enable rent collection.  For me, it's worth it for the flexibility and as a bonus I actually ended up making more money last year than this price because of its flexibility with late fee rules.  I never enforced it fully in Cozy due to having to manually add the per-day late fees in my lease (just one thing that's more flexible).  Also, I have more units now than I had at the beginning, so it's easier to justify the price.

So I'd still opt for Cozy if you don't need the extra flexibility.  As far as money tracking, I'd recommend using a proper accounting software.  I use waveapps.com (free), but other free or paid solutions might work better for you.

congrats @Bassim Audi!  Just curious if this is the one on Ridge Rd with the beauty salon that's been on the market forever, but just went under contract?  I love that building, so I was just curious.  Regardless, congrats!

https://etitleandescrow.com/

Yes. That's exactly what I think about all the time and I agree. I'm always wishing I had someone who I trust to enjoy and excel at the parts I hate. That's definitely a GREAT benefit, plus that would definitely allow for more scalability. It may just be me; I may not be trusting and/or mature enough in my investing to pull the trigger yet. I don't rule it out for the future though... As far as brainstorming, ideas, etc, I know a lot of other investors. So far, that hasn't been a shortfall for me personally. But if you don't, a partner could be great for that also. 

They said everything I was going to say. In the beginning I thought about partnering too. But now I feel like if you don't need to partner, don't.  It's not just a money decision for me.  I just prefer total control, whether that means I can do everything I want to without approval, or being lazy and doing nothing when I don't feel like it without hurting someone else.  I believe there are always deals small enough to not need a partner.

Money-wise and scalability-wise, I do understand some of the benefits of partnering, but unless you're talking complex multi-million dollar deals, I'd rather control my own destiny alone.

Finally filled a vacancy that went vacant at the same time COVID-19 lockdown started.

You don't necessarily need much money to wholesale because you don't have to buy the properties.  Some people do and some don't.  Some people, especially starting out, find a deal and get it under contract, then sell the contract, technically.  I've never done it myself, but I've bought from wholesalers who do it this way.  But if it's something you just don't want to do, don't do it.  Same reason I don't; I just don't feel like doing that.  I'm also not a flipper, so I can't speak specifically about the process other than ways to get money to start.  But I would definitely suggest, like you said, finding an experienced partner for your first project.  Building connections is the way to do that, so you're definitely on the right track!

Welcome @Izavion Joanes!  Have you thought about wholesaling or househacking as your first deal to save money for a flip?  What kind of experience do you have, if any, that could help you with a flip? What do you have to offer in a partnership? (credit maybe?) There are too many ways to get started to mention.  It sounds like you've done a lot of learning and you have good credit.  Other people will have different advice, but I got started by getting started.  I wouldn't advise a large project as your first, but people have done it and it worked out great for some of them.  It really all depends on you, your skills and past experiences, your risk tolerance, your money and other's money that you can access, your life goals, and your determination.