All Forum Posts by: Steve Porter

Phenomenal article! Thank you for sharing! 

I have been adding quite a few units lately and my number one problem is tracking rents and when them come and what amount. I have many tenants who pay themselves and are paid before the due date via check in the mail, I have many who pay through Zelle Quickpay, some who cash app, some who Venmo and then my Section 8 which gets directed deposited on the first.

My question is, is there an easy system I can have an app for, on my phone, to plug these payments in quickly and easily that also doesn’t cost an arm and a leg and actually works to tell me who paid and what is owed? What is the best system?

Originally posted by @Adam Luftig:

@Cameron Lam Thanks for sharing! Very inspiring and congratulations on your success.

I'd love to get your thoughts on whether or not you think it's possible to grow a portfolio without living near your properties. Like many on BP, I live in an expensive market (NYC) and can't afford to invest in my neighborhood. I bought a few homes in Akron, OH, but haven't seen positive cash flow yet due to management costs, high maintenance costs, unpaid utility bills (even though tenant should be responsible) and unreliable tenants. Any tips would be great!

Adam, I invest quite a bit in Akron and have seen tons of growth and profit. You do have to manage the properties right and find the good tenants. Unreliable tenants are everywhere and occasionally need to be turned over a couple times, very quickly until you find them. I hate to be a jerk but you must put your foot down immediately if they aren’t paying, and get them out ASAP and the new ones back in. 

I’d be happy to talk to you through DM about Akron if you’d like. 

Did you ever get any help on this? The reason I ask is because I'm thinking about a similar model in Ohio. Thanks, Steve 

I use Wayne savings and farmers bank in this area. 

I've used airbnb in the past when I'm traveling and we had an incident where I rented in Nashville and the week prior the apartment complex told their tenants they could no longer use airbnb. We had this trip planned for months so the owner of the apartment still rented it to us but made us tell anyone we encountered that we were family. Anyways I'm very curious how this plays out.

@Jared Vidales is this still available? 

@Garrett M. I'm sorry it took me so long to respond, I didn't notice this message. Anyways, what I've learned is just not to inform anyone or any bank what you're using the money for. They honestly can't tell you where you should use it anyways, but they will try. 

Jordan, I've been buying a lot of properties in the akron area. I'm curious as to whom you use for management, mostly because I've not found a really good company and am still looking but I honestly am thinking of just starting my own, because I currently already manage my own properties here in akron. 

I don't know how your county is but I represented my company in Summit county two months ago and I am currently representing my company in Wayne county Ohio.