All Forum Posts by: Anson Lau

Probably asked a million times, but what is the most popular property management software currently? 

I currently have 17 rentals, with plans to add more. I am currently trying out Stessa, but it feels more like a "financial" and doc storage software.

I currently self-manage and will be adding an executive assistant to take over this role. So would like to streamline our process.

Hi everyone!

Does anyone have a good referral for multifamily property manager in 30-50 unit range for the Houston/Clear Lake area?

Thank you!

I was curious and went through an interview by someone at GoBundance recently. They offered me to join. I was really hoping for personal mentoring + coaching/accountability from someone who is 100x ahead of me, since I’m already part of a few mastermind, but it seems like it’s more of a club and networking opportunity instead? 

The fee isn’t a problem, but I do want to get value out of it.

Anyone had any previous experience? Would love to hear some non-biased reviews and opinions. After joining, is this a program you would continue to join year after year?

I was curious and went through an interview by someone at GoBundance recently. They offered me to join. I was really hoping for personal mentoring + coaching/accountability from someone who is 100x ahead of me, since I’m already part of a few mastermind, but it seems like it’s more of a club and networking opportunity instead?

The fee isn’t a problem, but I do want to get value out of it.

Anyone had any previous experience? Would love to hear some non-biased reviews and opinions. After joining, is this a program you would continue to join year after year?

Haven't been keeping up with the times. What's everyone's favorite rental/property management software? I heard a lot about Stessa and Rentredi. I now have over a 20 single family rentals and it's been quite a headache keeping track of everything. Looking to add a few multi-family properties this week as well, so I want to be prepared and organized.

Also, is it possible to connect the mortgage accounts to these software to keep track of the equity as well? Maybe even to connect with Zillow to keep track of rough market value?

What’s everyone’s thoughts on how much cash reserves you need with all these uncertainties going on? I used to be in the happy medium of 3-4 months, but should we all try and save for more?

Right now I have 6 months of cash reserves for:

All my properties

My business (overhead + payroll)

My personal expenses (bare necessities, home, food)

Having this 6mos. cash reserve is great, but also not a fan of having this cash sit in the bank, do nothing and NOT generating cash flow from real estate either.

Currently have 10 properties that are under my personal name and in a conventional loan, SunTrust and Plaza Mortgage banks. It’s time I add some sort of asset protection to my portfolio.

I want to deed them over to a Series LLC, is it worth the risk since there is a due on sale clause?

I read somewhere that I could deed them over to a land trust, and the trust is held by an LLC. Not sure if this is overkill since my properties are worth $100-$150K per house.

I am the owner of a high end automotive business that specializes in customization and restoration, and also have been investing real estate for the last 5 years (MF and SF homes), currently sitting on 24 doors. 

I am torn between using my capital to buy my own building for my automotive business (why pay rent, when I can own?) or use that capital to invest in more RE, continue building my passive income. As much as I love the idea of buying a commercial strip and lease out the rest, I need about 4-5000 sq ft of space, lots parking space and in a decent location with lots of traffic. 

I love my business, but like all high end/luxury businesses, it can be finicky (I feel like I am always trying to chase the next "deal") and hoping my clients keep buying nice cars. I don't see myself doing this for the next 10 years or go hands off as much as possible.

I currently have 8 properties under Fannie/Freddie conventional loans which are under my personal name.

For asset protection purposes, I want to deed them over to an LLC. Is this possible without having to refinance or the bank "calling" the loan?

@Kerry Baird sorry, maybe I wasn’t explaining my situation well enough.

I’ve been BRRRRing all my SF rentals. As of now, I have 8 SFs under conventional Fannie/Freddie loans. There’s a 10 max on these Fannie/Freddie products, which is why I’ve been holding out on my 3 other SF properties which are free and clear and I want to do a cash out/refi on them.

The original plan was to move all 8 SFs + the 3 free and clear SFs under a portfolio loan and deed them over to an LLC, instead of my personal name. So that's 11 properties under one large loan.

So I could hit the “reset” button on the Fannie/Freddie products and continue BRRRRing.

But like @Andrew Postell said, I may just keep the current 8 loans I have and just start using commercial/portfolio loans from here on out.

Instead of paying a ton of closing costs for no apparent reason, other than deeding the properties to an LLC for asset protection purposes.