Closed on a small apartment deal! 16 units

[Justin Garrett]

Hello, I just closed on 16 units (creative financing) taking my total to 19 units and I am having a freaking blast it's a rush hunting the deal working another 8 unit now. How ever I do have a problem units are in a small college town and property manager is great but doesn't document the units as well I would like. I have looked at many of the website like buildium and appfolio I don't know if I really need that much detail maybe just a nice excel document. Any suggestions or incite on how you track your rentals would be appreciated! Thanks for the help Justin

[Gino Barbaro]

@justin garrett

No such thing  as a small apartment deal. They're all HUGE. Congrats.

We had @Lucas Hall from Landlordology and cozy.co speak at our live event in November.  He is a very knowledgeable investor and his technology is ideal for the "smaller" investors. He has a ton of cool tools and content on his site also.

We started out with Excel, grew to Rent Post and finally transitioned to App Folio. They are great, but I think App Folio makes sense at 100+ units

Best

Gino

[Juan Vargas]

Congrats on your deal. 

You can use Excel or Google Sheets. As you grow larger you can use some of the paid versions like Buildium or AppFolio. 

[Justin Garrett]

@Gino Barbaro Thanks for the congrats this property is in my portfolio because of you!  I learned about creative financing from your podcast.  I wouldn't have taken this deal down with out the knowledge you and jack put out so I owe y'all a thank you.  I hope to be at the App Folio level with in the next few years. 

Thanks again for the knowledge y'all are producing. 

Justin

[Sherman Ragland]

Congrats!  

[Gino Barbaro]

@Justin Garrett

Would love to have you at our live event in October talking about your success with the mom and pop strategy

BTW it was all you

Knowledge plus action equals power

Best 

Gino

[Ketan Patel]

@Justin Garrett I would recommend using Buildium if you are plan is to grow your portfolio aggressively. It will be an overkill in the beginning to set it all up but it will save you lot of time on an ongoing basis. You can do tenant screening, all numbers, ACH payments and host of other features. 

[Justin Garrett]

@Gino Barbaro

I would love to be able to take you up on that offer, but I am moving to Europe for my next duty station in March but I will continue to follow Jake & Gino over seas to stay motivated and in the game! Keep up the knowledge push to the masses you are taken people to the next level.

[Jacob Gregory]

Congratulations!!

[Mohammad El Sahlah]

@Justin Garrett Congrats! I would recommend excel and google sheets for you because they are easily accessible and free. 

[Michael Andrews]

Check out TenantCloud, it's much less expensive and has some nice features of the bigger cloud solutions.

[Michelle Clark]

Awesome congrats ! We also use Appfolio I love it.

[Michael Penny]

@Justin Garrett I am perusing BP looking to see what financing people have used for their 16 units as I am going to be looking for a lender once I get mine stabilized.  I also am interested to hear how close you are to your goal of 100 and hoping to hear that you have far surpassed it.  Look forward to hearing from you and connecting.