All Forum Posts by: Sherry Potwora

Thank you all for your input!!

Welcome!

I have been considering trying Cozy.co, but I was also told about Smartmove.  Thanks for sharing your experience @Ketan Patel.

I am a newbie too, so take what I say with a grain of salt. Seems like many people flip a home or a few to get some cash to buy and hold. I looked at buying multifamily, but I couldn't get into it yet - I am in Portland, OR, where it is a blood bath right now. So I bought a SFH, will hold it a couple years, refi or consider my options then, and keep working toward the end goal. I am also considering a self-directed IRA for a 2nd or 3rd property but will likely wait til the market here cools down a bit. I have enough cash to get into a 2nd deal, just wanting to see what mistakes I make the first time around so I don't immediately make the same mistake again! Then I will probably try to pay off my primary residence (I don't house hack, I have teenage kids) and use the money that was paying that mortgage to go into yet another 1-2 properties. I felt too intimidated to do a huge deal the first time around and duplexes and other multifam's were going for 300-800K and since I am new, I don't have the network to find the best deals, so I went with what I felt was doable with my knowledge and skill set, and my deals will grow as I grow as an investor. It also depends on your risk tolerance, your network of acquaintances, whether you have family and friends who will loan you money or want in on your deals, your willingness to get after it and move beyond your comfort zone. I had originally thought I would buy houses from a wholesaler or flip a few to get started...it turned out that I am probably a buy and hold gal. You will start to get a feel for it the more you learn.

@Carl Dean That hardly looks like the same place!  I need to up my game!  LOL

Thanks for the great ideas about expired listings, @Account Closed!

I'm a Registered Nurse, but hoping to get up to speed in RE so I can retire early!

Thank you Jon Holdman for your detailed description of how you handle it!

How much late fee do you charge?  I am not sure what I should charge.  I am going to ask $1695 for rent, $2000 deposit (more for pets) and I am still considering late fee - any suggestions?  I read on BP to have your deposit be more than the rental amount, otherwise tenants wrongly believe they have paid their last months' rent and do not need to pay for the last month.  

Thanks, Michell, yes, I am hooked up with MFNW and I was looking at the sample form that I bought (but hasn't arrived yet) and it talked in a very circumspect way about which to serve and the nail and mail idea.  I just found a site that says that as long as you nail AND mail, the mail counts as the same day you nailed it, so to me, it seems like, if still no rent paid by day 11, then you go to court and file?  Assuming it's a business day...