If your comment gets deleted I'm so sorry. RUclips is automatically deleting them for some reason (just on this video) and they aren't showing up under "held for review" for me to approve. If it does get deleted, know that I am still able read the comment (or at least the first part of it if it's long) in my notification bar, but I can't respond. I did reach out to RUclips support, but so far no response. Sorry!
Hi Mandy! Thanks for such a great video (again). Can you please do a video on how you track expenses via excel? Also, a video on the free pre-screening tool, once you find an alternative? Thanks!
Hi Mandy! So happy to cross thru your videos ! You gave me hope as a 1st home buyer and it’s almost time for current tenants leases up and this software is amazing to implement. I love all your videos! I love how you are so open and real , which I appreciate.
Mandy, you are awesome. Your whole mentality of looking out for your tenant AND the landlord is great. Agree also that tenants should not have to pay to apply if they really stand no hope of getting approved. Let's make the whole LL/Tenant experience a win-win! Love that you keep your phones until they die! You are marriage material, lucky guy who found you!
Thank you Mandy, I'm just starting out on my first property and a bit lot on the whole process of collecting rent and setup and this really helped out! Appreciate and looking forward to more videos from you!
Couple questions, if you can answer them: 1 - What do your taxes look like if you're essentially using renter income to pay for the mortgage of that property? Are you writing that off somehow, given that the income you're making off a property is going right back into the mortgage? 2 - Do you recommend an individual operating under an LLC? What are the benefits to that, aside from insulating your personal assets from liability?
I just upgraded my phone last week it was a Note5 and I purchased it in January 2016, most apps stopped working so I was forced to upgrade. I'm so glad to see I'm not the only frugal person out there. I'm subscribing 🤣
the landing page ad is Jeff Goldblum ... he was in Jurassic Park (1993) and Independence Day (1996) just to mention a few of the blockbuster movies he was in... He was smiling from ear to ear in that ad because of the major amount the company would have had to pay him just to do it! Now that is the true meaning of passive income.
She said, "that guy!!" LOL!! I was like, that is The Fly!!! Can you image the company paid him all that money to promote their product because of his celebrity status only for him NOT to be recognized but actually seen as a scam! Hilarious! Good video though.
I thought I was the only one who was still on an iPhone 6, lol. T-Mobile tried to trick me into buying a new phone when they shut down the 3G network but I discovered that the iPhone 6 will work on their 4G/LTE network by changing out the SIM card, ha! At one point my iPhone wouldn't update over the air any more. What you can do is install iTunes on a computer while connected to the Internet and update the iOS via the data cable between the phone and the computer. It took about an hour or so as I recall, but I'm on iOS 12.5.5 now and I believe that I can install future updates from my phone now, though I haven't tried it.
Hey Mandy, thanks for the great content you're putting out here. Been binge watching your channel! Did you figure out how you will be prescreening your applicants that dosent require them paying for credit and background check? Also, I see a collection of books in the back. Any recommendations?
For my most recent house I used Avail.co for applications. I don't like it as much as I liked Cozy, but it was ok. As far as books go, I do like to read but honestly I haven't read many real estate books. Of course Rich Dad Poor Dad is a must read if you haven't read it already. I also really like The Millionaire Next Door and How to Win Friends and Influence People, but they aren't exactly real estate related. The Miracle Morning is also good if you want inspiration for being more productive. I tend to read a lot of self improvement type books and have a bit of a collection of survival/homesteading books, but I really should read more books on real estate investing/ property management.
Hi! Thank you so much for making this video, my husband and I just closed on our first rental property. A duplex! Did you find a site to screen for free?? Can you do the expenses and everything through the mobile app?? I really appreciate this video, all I could find was the actual companies videos and I wanted a real review from a real property owner. Thank you so much.
Hi Mandy! A lot of what you say aligns with how I think...real estate, old cell phones, books you read etc lol. Anyway, I'm at a spreadsheet crossroads and I'm wondering if you set yours up in a way that would make sense to people who identify with the way you think. Is there any way to get a copy of a blank excel spreadsheet that you use for expense management? Or maybe you have a video of this I haven't found? Thanks :)
Hi Mandy, great video! Have you never switched to any other property software except Cozy and Apartments or never tried another one? I'd really appreciate any insights you have into TenantCloud, cause I'm using their free plan for almost half a year and am happy about it. Thanks for your reply
Hi Mandy, I'm a new subscriber and I love your videos, have only watched a couple so far. With respect to late fees...how long do you let a late rent payment go before you give a warning, or take an action? thank you!
Hi Paul, the whole idea of using a Rent Pmt Software is to have it automatically add on the late fee if the tenant gets behind more than a number of days that you determine. Tenants can also go on the App and see what their balance is that they owe to get caught up. A good app will also send out automatic emails & texts to the slug tenant to remind her that she is past due and liable to be evicted. A really good app will automatically send out the 7-Day Notice To Quit form to the tenant if he gets late by whatever number of days you determine. As a LL, you don't get what you hope for or expect....you get what you tolerate.
Is it just me but I don’t like that they’re asking for personal tax information. And if you don’t give it to them they suspend the account. If my memory serves me correct cozy never force you to get this information. At the end of the year this was your responsibility to provide that information to the IRS or your tax professional. I don’t like that I’m being forced. Great video!
Cozy asked for it if you collected over a certain amount in rent, but I think that amount was pretty high. However, the government has recently made much stricter requirements for reporting transactions to the IRS. I believe once you receive $600 through any payment processing software they are required to report it. This applies to paypal, venmo, and cashapp as well. I think technically the law goes into effect January 1st.
@@ItsMandy they increased it to $10,000 in the new spending bill..........but payment processors are still pegging it at $600 for some reason. it will also apply to all bank accounts too
I just feel like it’s an intrusion of privacy. And I understand that the only following rules that the government put forth. But it makes me question given the fact that it wasn’t always a requirement. I just want to choice that if the IRS need anything From me them direct them to me and I’ll direct them to my tax Lawyer and account.
Hi you're videos are the best. I agree with just using excel. Would you be able to share what you use in excel? I have 19 properties right now and some of these sites just take too long to input data.
Yep, just checked and you are right! I read where it said, "for $29 you can apply to this and other participating rentals for up to 30 days" and made the assumption that it was unlimited.
@@ItsMandy All good. I think I made that same assumption because at some point I thought it was unlimited too and then saw it as 10 somewhere and was like hey wait what…anyways great content keep up the good work.
I love this girl. She is intelligent, likes to save money, and works hard for everything she has. Mandy, you are the best! Thanks for your videos. You might check out the Avail software. It's not free, but it has some great benefits and you get your money the next day after a tenant pays.
Hi Mandy, Your videos are amazing! I was wondering if you have experience of managing multifamily apartment complexes? I am planning on taking over the management task from my management company as i am not satisfied by their performance. I would appreciate your reply.
I also noticed that the "background and credit check" is no longer giving you a credit score. It gives you a renter credit score or something. I opted to have the credit and background done elsewhere due to that.
I completely agree on about not charging for a credit/background check before a pre-screen. Have you found a workaround to this yet? Thanks for the video.
Not that I'm happy with. I used Avail to collect applications on my latest property, but I do not like their rent collection options. And it is very chunky to use two different programs. I will probably start looking into a paid option that does both the rent collection and applications.
Yes, eventually I will! I've had several requests for this. I will have to find some time to make a fake spreadsheet though as mine has a lot personal information in it.
@@ItsMandy I too would love to see how you manage/keep track of your income/expenses with Excel. I'm just getting started in RE investing and have so much to learn! 😊 I close on my first multi family in 1.5 weeks. 🥰
@@ItsMandy Hi Mandy, if you don't already know this , I think you'll find it useful: you can delete all numbers from a spreadsheet without changing any of the layout or functions you have in it. I would explain how to here, but it's probably easier to just google "how to delete just numbers in excel". I've done it several times so I could share my spreadsheets with others without giving them all my personal info that's typed in. Keep up the good videos!
@@ItsMandy If you save as and delete all the personal info on that Excel and shared on the time lapse section that would be greatly appreciate it. Love the videos and enthusiasm
How do you track monthly rent for those tenants that only send check and don’t want to participate with online payments and how do you create the monthly rent bills for them
I only have one tenant who pays with check. I let new perspective tenants know that it is mandatory that they pay online before they sign the lease. For my tenant who pays with check, I don't worry about creating a bill because the rent is the same every month. If for some reason the amount changed each month, like if water was billed to you and then you bill it to the tenant, honestly I would just text them the amount they owe - maybe not the most professional but I think it's effective.
By the way your dad bought houses or found rich enough renters at the right times. Those payments with house have to be paid in order for the owner to own it and not the bank so...... Have you even told you renters they might have an issue owing without the right conditions? I would way rather hear the truth than some b.s. Being a rental person is not easy but people only come because they need a place to live. They are likely not there because they want to be there because they have to live somewhere.
Hi Mandy, New landlord here..So as far as pre screening with an application and wanting to prevent the tenant from incurring fees when they may not make the pres-screening criteria would it be helpful to send them a list of what would disqualify them and let them know if they do not meet the criteria on the list not to bother to fill out the application because you don’t want them to waste their money needlessly, would that be an option for me?
@@gloriafb46 Do you currently have a tenant? Are you using cozy or avil? No, I don't have such a list although it would be good. I can say that requiring them to have a credit score of 650 to start.
Good video. Question why is it bad that some sites charge a dollar? There are software engineers that made the website and they have bills to pay for the service they provide.
Those sites either advertise to be free, but the catch is that it’s only free for the landlord and the tenant has to pay the $1 which I don’t think is right. Or they charge a base fee and then still charge for ACH transfers on top of that fee. If there wasn’t a free option, I would be fine with a base fee. It’s all the extra charges I don’t like.
I spray myself during turnovers and put out those sticky traps if I see anything. If the tenants report any pest issues, I hire a pest company to do a one time treatment of the house. But the last time I had anything reported was over a year ago and it was for mice. If I were having repeated issues with pests I would probably look into having a company come out regularly but so far no major issues. And I almost feel that I can treat any pests problems that come up just as well as a company can anyway.
@@ItsMandy If you have mice, you need to find the small hole/s they are getting in through. And it can be the roof, yes, through a dryer vent or AC line conduit, etc. Use copper wool (not rusting steel wool) to plug it.
Yes, if you trust your tenant that is probably a good option. My main issue with Zelle, Venmo, paypal, etc. is that the tenant can dispute the charges for up to six months. I think in cases of dispute, they almost always side with the customer and not whoever received the money. Plus I also think technically if you are doing business transactions there is a fee.
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If your comment gets deleted I'm so sorry. RUclips is automatically deleting them for some reason (just on this video) and they aren't showing up under "held for review" for me to approve. If it does get deleted, know that I am still able read the comment (or at least the first part of it if it's long) in my notification bar, but I can't respond. I did reach out to RUclips support, but so far no response. Sorry!
Hi Mandy! Is there any way to get a copy of a blank excel spreadsheet that you use for expense management?
Hi Mandy! Thanks for such a great video (again). Can you please do a video on how you track expenses via excel? Also, a video on the free pre-screening tool, once you find an alternative? Thanks!
Hi Mandy!
So happy to cross thru your videos ! You gave me hope as a 1st home buyer and it’s almost time for current tenants leases up and this software is amazing to implement.
I love all your videos! I love how you are so open and real , which I appreciate.
Mandy, you are awesome. Your whole mentality of looking out for your tenant AND the landlord is great. Agree also that tenants should not have to pay to apply if they really stand no hope of getting approved. Let's make the whole LL/Tenant experience a win-win! Love that you keep your phones until they die! You are marriage material, lucky guy who found you!
Thank you Mandy, I'm just starting out on my first property and a bit lot on the whole process of collecting rent and setup and this really helped out! Appreciate and looking forward to more videos from you!
Couple questions, if you can answer them:
1 - What do your taxes look like if you're essentially using renter income to pay for the mortgage of that property? Are you writing that off somehow, given that the income you're making off a property is going right back into the mortgage?
2 - Do you recommend an individual operating under an LLC? What are the benefits to that, aside from insulating your personal assets from liability?
Thanks Mandy! Your videos are very thorough and simple. Gives my wife and I confidence to keep going!
I just upgraded my phone last week it was a Note5 and I purchased it in January 2016, most apps stopped working so I was forced to upgrade. I'm so glad to see I'm not the only frugal person out there. I'm subscribing 🤣
the landing page ad is Jeff Goldblum ... he was in Jurassic Park (1993) and Independence Day (1996) just to mention a few of the blockbuster movies he was in... He was smiling from ear to ear in that ad because of the major amount the company would have had to pay him just to do it! Now that is the true meaning of passive income.
He is The Fly!
She said, "that guy!!" LOL!! I was like, that is The Fly!!! Can you image the company paid him all that money to promote their product because of his celebrity status only for him NOT to be recognized but actually seen as a scam! Hilarious! Good video though.
I thought I was the only one who was still on an iPhone 6, lol. T-Mobile tried to trick me into buying a new phone when they shut down the 3G network but I discovered that the iPhone 6 will work on their 4G/LTE network by changing out the SIM card, ha!
At one point my iPhone wouldn't update over the air any more. What you can do is install iTunes on a computer while connected to the Internet and update the iOS via the data cable between the phone and the computer. It took about an hour or so as I recall, but I'm on iOS 12.5.5 now and I believe that I can install future updates from my phone now, though I haven't tried it.
it's a rainy day ... I'm going to binge watch your videos! :)
Hey Mandy, thanks for the great content you're putting out here. Been binge watching your channel! Did you figure out how you will be prescreening your applicants that dosent require them paying for credit and background check?
Also, I see a collection of books in the back. Any recommendations?
For my most recent house I used Avail.co for applications. I don't like it as much as I liked Cozy, but it was ok. As far as books go, I do like to read but honestly I haven't read many real estate books. Of course Rich Dad Poor Dad is a must read if you haven't read it already. I also really like The Millionaire Next Door and How to Win Friends and Influence People, but they aren't exactly real estate related. The Miracle Morning is also good if you want inspiration for being more productive. I tend to read a lot of self improvement type books and have a bit of a collection of survival/homesteading books, but I really should read more books on real estate investing/ property management.
Hi! Thank you so much for making this video, my husband and I just closed on our first rental property. A duplex!
Did you find a site to screen for free??
Can you do the expenses and everything through the mobile app??
I really appreciate this video, all I could find was the actual companies videos and I wanted a real review from a real property owner. Thank you so much.
I'd love to see your excel spreadsheet. That's what I've been using for over 15 years.
Hi Mandy! A lot of what you say aligns with how I think...real estate, old cell phones, books you read etc lol. Anyway, I'm at a spreadsheet crossroads and I'm wondering if you set yours up in a way that would make sense to people who identify with the way you think. Is there any way to get a copy of a blank excel spreadsheet that you use for expense management? Or maybe you have a video of this I haven't found? Thanks :)
Great content!!! Very helpful! Liked & subscribed. Thank you, Mandy. :-)
Great video. Do tenants have the ability to make partial payments through the app? I’d prefer if they can only make payments in full.
Thanks for this W review!
This was a great review. Thank you for sharing!
Hi Mandy, great video! Have you never switched to any other property software except Cozy and Apartments or never tried another one? I'd really appreciate any insights you have into TenantCloud, cause I'm using their free plan for almost half a year and am happy about it. Thanks for your reply
did you switch?
Hey Mandy!!! Great review. How do you feel about Rent Redi?
Thanks for this video! You're awesome!
Great review, thanks!
Do you consider rent aid when the money clears or when it's sent and being processed?
Hi Mandy, I'm a new subscriber and I love your videos, have only watched a couple so far. With respect to late fees...how long do you let a late rent payment go before you give a warning, or take an action? thank you!
Hi Paul, the whole idea of using a Rent Pmt Software is to have it automatically add on the late fee if the tenant gets behind more than a number of days that you determine. Tenants can also go on the App and see what their balance is that they owe to get caught up. A good app will also send out automatic emails & texts to the slug tenant to remind her that she is past due and liable to be evicted. A really good app will automatically send out the 7-Day Notice To Quit form to the tenant if he gets late by whatever number of days you determine. As a LL, you don't get what you hope for or expect....you get what you tolerate.
Curious what you use now for application and background checks?
Is it just me but I don’t like that they’re asking for personal tax information. And if you don’t give it to them they suspend the account. If my memory serves me correct cozy never force you to get this information. At the end of the year this was your responsibility to provide that information to the IRS or your tax professional. I don’t like that I’m being forced. Great video!
Cozy asked for it if you collected over a certain amount in rent, but I think that amount was pretty high. However, the government has recently made much stricter requirements for reporting transactions to the IRS. I believe once you receive $600 through any payment processing software they are required to report it. This applies to paypal, venmo, and cashapp as well. I think technically the law goes into effect January 1st.
@@ItsMandy they increased it to $10,000 in the new spending bill..........but payment processors are still pegging it at $600 for some reason. it will also apply to all bank accounts too
I just feel like it’s an intrusion of privacy. And I understand that the only following rules that the government put forth. But it makes me question given the fact that it wasn’t always a requirement. I just want to choice that if the IRS need anything From me them direct them to me and I’ll direct them to my tax Lawyer and account.
@@jmason105 That's your gubment at work, always trying to find a way to pick more out of your pocket. Think about it when you vote.
Great job explaining everything thank you🤩🤩🤩🤩🤩🤩
I wish I was there when Cozy was around. Maybe I should make a cozy alternative?
I know I'm assuming but I would love to see your Google reviews page. You seem extremely picky.
Hello, Can you deny or return payment from tenants you want to evict?
Hi you're videos are the best. I agree with just using excel. Would you be able to share what you use in excel? I have 19 properties right now and some of these sites just take too long to input data.
I think your ad /marketing should list your criteria and requirements and stress that , they should only apply if they meet the criteria etc
Helpful video, thanks. Btw I don’t think it’s unlimited, it’s up to 10 applications within 30 days.
Yep, just checked and you are right! I read where it said, "for $29 you can apply to this and other participating rentals for up to 30 days" and made the assumption that it was unlimited.
@@ItsMandy All good. I think I made that same assumption because at some point I thought it was unlimited too and then saw it as 10 somewhere and was like hey wait what…anyways great content keep up the good work.
@@ItsMandy Zillow is unlimited for 30 days @ $35
I love this girl. She is intelligent, likes to save money, and works hard for everything she has. Mandy, you are the best! Thanks for your videos. You might check out the Avail software. It's not free, but it has some great benefits and you get your money the next day after a tenant pays.
Hi Mandy,
Your videos are amazing! I was wondering if you have experience of managing multifamily apartment complexes? I am planning on taking over the management task from my management company as i am not satisfied by their performance. I would appreciate your reply.
What are the conditions about logging in multiple accounts? What is the limit and how much time take to reset?
I also noticed that the "background and credit check" is no longer giving you a credit score. It gives you a renter credit score or something. I opted to have the credit and background done elsewhere due to that.
That's odd, supposedly it should be giving you the TransUnion credit report. At least that's what the site claims.
Has it since been working? What are you using now for a background and credit check?
I completely agree on about not charging for a credit/background check before a pre-screen. Have you found a workaround to this yet? Thanks for the video.
Not that I'm happy with. I used Avail to collect applications on my latest property, but I do not like their rent collection options. And it is very chunky to use two different programs. I will probably start looking into a paid option that does both the rent collection and applications.
Zillow?
They have rental management and rent collection now.
Hi Mandy Do you recommend to get a property manager if you don’t live in the same state you’re renting your home ?
I would unless you know someone there that you could trust.
what are those plumbing and wiring books in the background?
do you use a different software?
I m new here, thank you for all your tips, where can i get a rental application for free?
Thx Mandy
Does this service help with the rental contract?
It does
$365 ??? what are you renting storages ?
Can I use it outside of US?
how is it free? where do they get money?
can you provide your expenses excel sheet?
Yes, eventually I will! I've had several requests for this. I will have to find some time to make a fake spreadsheet though as mine has a lot personal information in it.
@@ItsMandy I too would love to see how you manage/keep track of your income/expenses with Excel. I'm just getting started in RE investing and have so much to learn! 😊
I close on my first multi family in 1.5 weeks. 🥰
@@ItsMandy Hi Mandy, if you don't already know this , I think you'll find it useful: you can delete all numbers from a spreadsheet without changing any of the layout or functions you have in it. I would explain how to here, but it's probably easier to just google "how to delete just numbers in excel". I've done it several times so I could share my spreadsheets with others without giving them all my personal info that's typed in. Keep up the good videos!
@@ItsMandy If you save as and delete all the personal info on that Excel and shared on the time lapse section that would be greatly appreciate it. Love the videos and enthusiasm
Is the a way to prevent accepting partial payments? It's not good if they pay very little to avoid eviction.
good question!
How do you track monthly rent for those tenants that only send check and don’t want to participate with online payments and how do you create the monthly rent bills for them
I only have one tenant who pays with check. I let new perspective tenants know that it is mandatory that they pay online before they sign the lease. For my tenant who pays with check, I don't worry about creating a bill because the rent is the same every month. If for some reason the amount changed each month, like if water was billed to you and then you bill it to the tenant, honestly I would just text them the amount they owe - maybe not the most professional but I think it's effective.
what if you have old tenants that don't even use emails? let alone make them pay rent electronically.
I have one like that and I let her mail a check each month.
By the way your dad bought houses or found rich enough renters at the right times. Those payments with house have to be paid in order for the owner to own it and not the bank so...... Have you even told you renters they might have an issue owing without the right conditions? I would way rather hear the truth than some b.s. Being a rental person is not easy but people only come because they need a place to live. They are likely not there because they want to be there because they have to live somewhere.
Hi Mandy,
New landlord here..So as far as pre screening with an application and wanting to prevent the tenant from incurring fees when they may not make the pres-screening criteria would it be helpful to send them a list of what would disqualify them and let them know if they do not meet the criteria on the list not to bother to fill out the application because you don’t want them to waste their money needlessly, would that be an option for me?
That would work. Have you since been suing this software?
@@ShyRage1 no, not yet but would like more info if you can provide it.
@@gloriafb46 Do you currently have a tenant? Are you using cozy or avil? No, I don't have such a list although it would be good. I can say that requiring them to have a credit score of 650 to start.
Jeff Goldblum makes it even more legit im my opinion 😂
I want to ask a question, please I don’t know why my listing are getting rejected
I'm not sure, it must be flagging your listing as spam for some reason. I would try to contact their support team.
10:29 Oh my god, did they get Jeff Goldblum for their landing page? I'm so conflicted about this. Big fan of Jeff, but that landing page needs to go.
The app isn't a real app. It just takes you to the site
Oh, that makes sense.
Good video.
Question why is it bad that some sites charge a dollar? There are software engineers that made the website and they have bills to pay for the service they provide.
Those sites either advertise to be free, but the catch is that it’s only free for the landlord and the tenant has to pay the $1 which I don’t think is right. Or they charge a base fee and then still charge for ACH transfers on top of that fee.
If there wasn’t a free option, I would be fine with a base fee. It’s all the extra charges I don’t like.
You get what you pay for.
Kind of off topic but how do you deal with pest control
I spray myself during turnovers and put out those sticky traps if I see anything. If the tenants report any pest issues, I hire a pest company to do a one time treatment of the house. But the last time I had anything reported was over a year ago and it was for mice. If I were having repeated issues with pests I would probably look into having a company come out regularly but so far no major issues. And I almost feel that I can treat any pests problems that come up just as well as a company can anyway.
@@ItsMandy Thanks so much for the quick reply. I just bought my first rental property and am fixing it up. Your channel is an inspiration!
@@ItsMandy If you have mice, you need to find the small hole/s they are getting in through. And it can be the roof, yes, through a dryer vent or AC line conduit, etc. Use copper wool (not rusting steel wool) to plug it.
Jeff Goldblum looks scammy?
That pose, that outfit, in front of a WordPress style website? Absolutely
@@OtherDalfite I think they photoshopped half his hair away. They didn't do a good job with him, lol he does play a lot of scammy scuzzy roles.
🤣😂
Sure, but it's clearly a joke. Maybe she didn't recognize him.
She’s young and didn’t grow up watching his movies so…he kinda does.
Yeah looks like a scam
i fainally found someone still has ihpone 6s,, looking fot free services ..beleives that 5 cent for no reason should not be paid hah
Zelle is free and instant
Yes, if you trust your tenant that is probably a good option. My main issue with Zelle, Venmo, paypal, etc. is that the tenant can dispute the charges for up to six months. I think in cases of dispute, they almost always side with the customer and not whoever received the money. Plus I also think technically if you are doing business transactions there is a fee.