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Updated over 8 years ago on . Most recent reply

User Stats

46
Posts
15
Votes
Tito Burgos
  • Investor
  • Cliffside Park, NJ
15
Votes |
46
Posts

Looking to purchase first multifamily need some advice

Tito Burgos
  • Investor
  • Cliffside Park, NJ
Posted

I'm looking purchase a small (<20 unit) multifamily property and I plan to purchase with other investors as part of a joint venture.  I need some guidance on the following:

1)is there any accounting software for property management that also includes accounting for investors (i.e distributions and K1s) and other provisions in the operating agreement such as if I need to do a capital call?

2) Should I have a live in super?  If so, what do I do if he is unable to perform or goes on vacation?  Are there services I can hire to provide this service without the need for me to have a live in super or if I have one can provide the services on a temporary basis while the live in super is away?

I plan to do the property management myself.  

Thanks

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