All Forum Posts by: Timothy Colman

Hello all,

To keep this short I signed on with Zumper about a year ago for rent collection. They advertised this service would be free for landlords. 

First merchant was Stripe - no problems. Then came Card Connect. That’s when the fees started. $60 here, $30 there and then August brought a $160+ charge. Then a $29.95 in this month. Mind you, I haven’t used Zumper for the past two months. 

I went down the rabbit hole starting with my bank, then American Express, then First Data and finally Card Connect. I met a very helpful lady who confirmed those fees and will close the account. Their company seems unaware of Zumper’s claim of free services and this was the first they had heard of it. She said she will be sending it to their VP (my complaint). 

I’m here now to gauge how many others have been charged, are still being charged, and create a place to work together to rectify this. Class action, BBB, FTC fraud, etc. I have the point of contact for card connect for those who want it. 

They will refund this months 29.95 service fee. The large fee for august was their “annual fee.” 

Please post if you’ve been affected. 

Picture is of another who went through the same posted to BBB.

@Chris Johnu

Now there is an interesting perspective. I heard another theory that may support your point further: that you should not pay off your home early because of inflation. For example, if someone pays $50,000 in extra principal over the course of 15 years, and our inflation rate averages 2% a year, that's 30% inflation total. That's $15,000 in inflation losses (math could be off, but you get the point).

Personally, I enjoy the equity for additional lending and the goal of increasing cashflow (by refinancing or paying off completely). If my goal is to become financially free, then each rental property that is paid off will yield its maximum cash flow. I've heard other investors say it's best to keep a certain percentage of equity in a home, but not to go too high, or it's wasted money that could be better invested. But what if you have no other investment goals? What if once the current homes are paid off then you could be financially free? Wouldn't you feverishly pay them off?

I like the idea of saving the money and not going the HELOC route. It's a liability to borrow the money against the home whereas the cash has complete freedom and as Chris stated, at 3% its a pretty good rate.

@Bobby Danielson Fortunately I am. It is currently my largest stream of passive income. Hoping to add to it through RE investments.

Hello,

I am a Marine Corps Veteran and a current GS employee (military police/gs7) and have an active FL real estate license. Additionally, I am working toward a Masters in Business and will graduate in May of 2021. 

I yearn to obtain a job in the federal sector in RE since that is my passion and not law enforcement. 

I am hoping to gain some insight from anyone who may current hold this position in the federal sector in regard to the difficulty being hired and the pros and cons of such a position. After reading the usajobs posting for realty specialist with the Dept. of the Navy, I should be able to come in as a GS9 simply based on education.

A last concern I have is practicing real estate sales in my off time and whether that is a conflict of interest.

@Sheila Campbell student loans I'm guessing. But that is a good rate and does give you freedom to make some smart moves. 

I suppose your next move is dependent on how much risk you are willing to assume. The smart play is paying off debt and using the remaining for investing. The riskier version is using it all for investing.

My vote is for paying off debt and using the remaining for investment.

Either way, good luck with your endeavor!

@Sarah Brown I assume your RE career took off and you were able to quit your job, which is amazing and in fact exactly what I would like to do. I just don't want to step off the boat without another one there to catch me.

Thanks for the input!

What type of loans did you get approved for and what are the interest rates? Your answer will greatly impact everyone's response. If these are unsecured loans, then I would imagine the rates are high and do little other than consolidation of current debt.

I am a full time federal employee, who works 40hrs a week, no more. I work 13 hour shifts and only 15 days out of the month.

I obtained my Florida real estate license, but have never sold a home. To add clarity, I am currently living in AZ, but want to transfer to Jacksonville, FL, for my current job. I need the security of a W-2 job, especially with child support; however, I want to get started as a sales agent because that is my passion.

My question is - will I be able to perform both? Is anyone out there working 40 hrs a week and doing real estate? 

Thanks,

Tim

Excellent advice @Randy E., thank you. I think that is the route I will go.

Hello all,

I have a quick scenario that may be a bit confusing, but stay with me.

• I live in Arizona.
• Ex wife lives in Florida.
• My ex wife and I own a house in NC. I am the ONLY one on the mortgage. We are both on the deed.

I recently got divorced in December of 2018, and in the agreement it states:

"Within five (5) days of the execution of this Agreement, Wife shall execute and deliver to Husband a Quit Claim Deed conveying her interest in the North Carolina Property to Husband. In the event Wife fails to deliver the required deed, Wife agrees that the Final Judgment of Dissolution of Marriage in this dissolution shall serve as full conveyance of title of Wife's rights, title and interest in the North Carolina Property to Husband."

She has failed to deliver a quit claim deed. What is my next move?