All Forum Posts by: Bryan Mitchell

@Cameron Kennerton why are you putting down such a big down payment?

I am experiencing a similar problem in my duplex. The kitchen floor is rising up. A contractor will fix this this week hopefully. However, I want to invest in tile once the work is complete. Unlike Amie D's house, mine is new (1950s), but has crawl space and sits on wooden pier. Should I fix the floor and put in ceramic tiles? Currently they is vinyl flooring and I want the most ROI for the job.

I also agree with selling those non performing properties in markets that show no growth. You can focus elsewhere. I am currently with the government and have lived in both Stuttgart and Vicenza (currently). I previously lived in Sierra Vista in the 90s. Not all military installation markets are the same. I'll mention that many military have become landlords without good experiences.

I would like specific examples of the best financial accountability statements/tools (i.e. income statement, P&L Statement) to help me account for all revenue, expenses, per unit per month in order to determine my net gain (or loss) on each property and total combined property income.  Background: I have 6 rental units and all have a property management company. The property management company lists the expenses that they pay for. However, there are other costs that I personally pay for such as expenses related to traveling to look at my out of state and out of country properties, subscriptions, and costs associated with searching for new opportunities. By the way, yes, I do have an accountant who does my end of year. I would personally track my properties monthly and file with my CPA annually providing her a copy of all documents. Yes, I’ll also reach out to her for an example, but wanted to check with my fellow real estate investors first. Thank you in advance for you examples of the tools you use for successful financial management.

@Scott Palo thank you for the advise. I much prefer working directly with the asset manager at the bank, but it seems they stopped (mostly) doing this.

@Anthony Gayden , I drive to Germany a lot from Italy through the Alps. Having several podcasts would make the drive more useful.

Allow downloads of podcasts from BP App

@Jonathan Greene the auction closed without a winner. Is it possible to go directly to the asset manager at the Deutsche Bank of America?

@Anthony Gayden thanks my friend!

@Troy Luster it would be great to hear from you and other active duty military who are active in real estate given that we never stay in one city, state, or country for long. Since 2011 I've moved 4 times and lived in two different countries. During this time I've done only 3 deals but hope to do more soon. All the best!