All Forum Posts by: Tommy Parker

Check your amortization table. If you’re paying off more than $150/mo you’re making money. Tax free money at that, and more each month. Would it really change anything big picture if you had an extra $151/mo coming in? If so, then sell now! Otherwise imagine how many things could cost you more than $1,800/mo. 

What’s a 5% rent increase next renewal so to the numbers? And another 5% the next yer? Unless you plan to only own it for a year or two next years number mean almost nothing. Consider it a retirement account, does anyone expect their 401k to cashflow?

I agree with the others-take it out of their security deposit and if that isn't enough, the collections.  You are unlikely to see any of that money.

I've been using TenantCloud for the past 2 years. Their policy changes including price increases, charging for every little thing as an "add-on", complicated GUI and the lack of fixes of known problems (posted by their "community" on a Facebook Group), and super slow ACH deposits (which take 10+ days!), I've decided to move on.

I've signed up with innago.com and it's been working great so far. It was easy to setup, and my tenants had no problem getting setup via the invite email that they receive once they are added to a property/lease. This next month (July 1st) is the first month collecting rent with them, but so far it's been very easy to use- and the monthly cost is right ($0!) (they do charge a flat $2 for ACH, but tenants will pay that).

North Carolina is on fire - it's one of the fastest growing states, if not the fastest (depends on which poll you look at) in the nation. Lots of businesses moving there and SO MUCH construction happening there.