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Never Accept Debit or Credit Cards for Rent Payments

W2 Capitalist | For Married, Busy Parents Side Hustling in REI

Release Date: 05/16/2024

The Spare Tire Analogy: Why Your Side Hustle is Your Financial Safety Net show art The Spare Tire Analogy: Why Your Side Hustle is Your Financial Safety Net

W2 Capitalist | For Married, Busy Parents Side Hustling in REI

We’ll explore the surprising parallels between spare tires and side hustles in today’s episode. Last weekend reminded me just how invaluable both can be. We've been slow traveling for years with only minor vehicle issues until a recent incident underscored the importance of having a spare tire – a reminder of why having a side hustle is equally crucial. We'll discuss the importance of being prepared, staying resilient, and ensuring your "spare tire" – whether literal or metaphorical – is always ready to go. Links Mentioned in this Episode: Connect with Jay:

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NSFW Rental Applications: The Wild Side of Facebook Marketplace show art NSFW Rental Applications: The Wild Side of Facebook Marketplace

W2 Capitalist | For Married, Busy Parents Side Hustling in REI

In this episode, I share a bizarre and NSFW rental application that left me speechless. After years of using Hemlane for property management, I decided to test Facebook Marketplace for filling a vacant unit. The results were surprising, to say the least. From 81 inquiries on Facebook, only one applicant was approved, compared to Hemlane's six inquiries and three approved applications. But the real kicker? An unforgettable voice message from a potential tenant. Tune in to hear the cleaned-up audio and the valuable lessons learned about finding quality tenants. You won't want to miss this...

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Smooth PM Transitions: Why the 15th is the Magic Date for Property Management Changes show art Smooth PM Transitions: Why the 15th is the Magic Date for Property Management Changes

W2 Capitalist | For Married, Busy Parents Side Hustling in REI

Ever wondered when the best time to transition your PM system is? Tune in to this episode where we break down why the 15th of the month is the ideal day for making this switch. We’ll discuss how this timing ensures rent collection is complete, gives residents ample time to adapt to the new system, and prevents late payment excuses. Sharing personal experiences and practical tips, we’ll guide you through posting notices, following up with residents, and ensuring a smooth transition. Links Mentioned in this Episode: Connect with Jay:

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Fear Yields Inaction: Take a Step Backwards show art Fear Yields Inaction: Take a Step Backwards

W2 Capitalist | For Married, Busy Parents Side Hustling in REI

In this episode, we dive into overcoming fears and taking actionable steps towards your real estate goals. Join us as we discuss a recent mastermind call with Jason, Brody, and myself, where we tackled the intimidating prospect of door knocking for pre-foreclosure deals. While Brody, an expert in acquisitions, thrives on this strategy, Jason and I—both introverts—struggled with the idea. Whether you're scared to knock on doors, talk to potential partners, or raise funds for your next deal, this episode will guide you in identifying your edge, taking a step back, and building the confidence...

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Running with Blinders On: Surprise Others and Yourself show art Running with Blinders On: Surprise Others and Yourself

W2 Capitalist | For Married, Busy Parents Side Hustling in REI

Ever been so focused on your goals that you surprise not only others but yourself too? This week, we’re diving into a hilarious and unexpected lesson from my recent slow travel adventures. As my family and I navigated the challenges of hotel living amidst noisy teams and sleepless nights, I had a moment that perfectly illustrates the power of singular focus. We’ll explore how maintaining focus, even in chaotic situations, can lead to surprising outcomes. Listen for a mix of humor, real-life insights, and a reminder that dedication to your goals can lead to extraordinary moments. Links...

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Cow Patty Party Capital: Creative Fundraising and Resourcefulness in Real Estate show art Cow Patty Party Capital: Creative Fundraising and Resourcefulness in Real Estate

W2 Capitalist | For Married, Busy Parents Side Hustling in REI

Ever heard of a cow patty party? No? Well, get ready for a wild story from my hometown that’ll make you rethink creativity in real estate investing. This episode, we're exploring the quirky tradition of the cow patty party and its surprising connection to finding cash-flowing deals in today’s challenging market. Tune in to hear this unusual tale and learn how thinking outside the box can lead to success in real estate investing. Links Mentioned in this Episode: Connect with Jay:  

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Finding Cash Flow in Today’s Market: Strategies and the 28-Day Deal Flow Challenge show art Finding Cash Flow in Today’s Market: Strategies and the 28-Day Deal Flow Challenge

W2 Capitalist | For Married, Busy Parents Side Hustling in REI

In this episode, we're tackling a question on every real estate investor's mind: "Will I ever find another deal that cash flows?" Join us as we dive deep into this topic and we'll also introduce you to our 28-Day Deal Flow Challenge, a structured plan designed to boost your deal flow. Markets may have shifted, but by dedicating time and effort to these steps in this challenge, you can still find deals that meet your cash-flowing criteria.   Links Mentioned in this Episode: Connect with Jay:

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Escaping Real Estate Investor's No Man’s Land: Stop Comparing, You're Thriving! show art Escaping Real Estate Investor's No Man’s Land: Stop Comparing, You're Thriving!

W2 Capitalist | For Married, Busy Parents Side Hustling in REI

In this episode, we’ll delve into the realm of the Real Estate Investor's No Man's Land. We’ll explore what it means to be stuck in this desolate area of real estate investing, where motivation dwindles, stress mounts, and growth feels stagnant. Success in real estate investing isn't about matching someone else's pace; it's about finding what works for us and staying true to our goals. Tune in for insights on navigating this challenging terrain and breaking free from the Real Estate Investor's No Man's Land. Links Mentioned in this Episode: Connect with Jay:

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Pit Crew Pit Stops: Adventures in Nomadic Slow Travel with Kids show art Pit Crew Pit Stops: Adventures in Nomadic Slow Travel with Kids

W2 Capitalist | For Married, Busy Parents Side Hustling in REI

Get ready to join the adventure with our nomadic crew as we dive into the humorous realities of frequent pit stops, highlighting our personal best of a 197-mile stretch without pausing. From Hardee's biscuit breaks to unexpected naps, discover the strategies behind our epic journey milestones and the chaos that ensues during our "pit crew pit stops." So buckle up and tune in as we navigate the highs and lows of life on the road, one mile at a time! Links Mentioned in this Episode: Connect with Jay:

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Introvert's Journey: From Virtual Meetups to Real-Life REI Conferences show art Introvert's Journey: From Virtual Meetups to Real-Life REI Conferences

W2 Capitalist | For Married, Busy Parents Side Hustling in REI

In this episode, I’ll open up about my journey as an introverted real estate investor. Discover how virtual communities have played a pivotal role in my growth and helped me overcome the anxiety associated with in-person events. If you're an introvert struggling with networking in the real estate world, this episode offers practical advice on leveraging virtual connections to ease into face-to-face interactions. Learn how you can push beyond your comfort zone, build valuable relationships, and boost your confidence in real estate investing. Links Mentioned in this Episode: Connect with...

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More Episodes

Hey busy parents! In today's episode, we're diving into why you shouldn't accept credit or debit card payments for rent. I'll share a painful lesson learned from my own experience and explain the potential pitfalls. We initially thought accepting card payments through Hemlane was a great idea for tenant convenience. However, we faced a major issue when a tenant disputed a payment, leading to a loss of three months' rent. I'll break down the risks involved and why we've switched exclusively to ACH transfers. If you've faced similar challenges or have insights on ACH transactions, I'd love to hear from you.

 

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