All Forum Posts by: Bryan Lyde

@Jean-Paul E. Gagnon, I would ask the why before answering the what. are you struggling with how profitable your business is, or are paying too much for tax preparation? knowing your numbers means reporting and running p&l, tracking net worth, and a balance sheet.

manual paper trail only gets worse as you scale so efficiency becomes important. whether you pay for someone to do that depends on if you know your numbers cold. you can't possibly know if someone else is doing it right if you don't master it first. only then can you delegate and focus your time on the higher income producing activity.

I do use qb desktop btw and believe what ever tool you use will be far more beneficial than manual, and your cpa will need less time and therfore charge less, further improving your bottom line.

my 2 cents.

my short answer when most ask is if we meet the plan, your investment should double in 3-5 years. ie equity multiple of 2x or more.

@Michael Temple struggling through the number crunching right now on this very thing. I already know the right answer mathematically is refi and put the capital to work. the other half of me says you're in year 2 of a 7 year plan to leave corporate so cashflow is priority. so I'm taking hybrid approach. I will pull out equity and redeploy only if the new debt service delivers the same cashflow I had before the refi. then I have dead capital in completely paid for properties that are seller financed so I'm just the bank getting the same COC rate without the rental problems. the goal here is to have enough seller finance deals to cover the debt service on the rentals in a worst case scenario of 100% vacancy. moral of the story is look for the shades of gray for what helps you sleep at night versus attaining the goal. if maximizing leverage is needed to achieve the plan, then have plenty of reserves via liquidity in some form to help you sleep better at night.

@Justin G. Lawrence, fishers in NE

I'm getting consistent 2% bumps at renewal. turns are forecast to bump by $50-100 per door, which is 5-10%.

oddly enough, appreciation is strong with 80k on 5 doors since mid 2019. A welcome surprise. sounds like a refinance is in order!

forgot to mention, beware of a one man show. if they get hit by a bus you're in a pickle. look for a well organized team with low turnover.

@Timothy Ray i like to to know i have alignment of interest, meaning only when I make should they make money. I would ask what % of their revenue is from maintenance. this will show whether you have alignment or not.

may have a conflict of interest with Mr hastings. They did the original title and closing work. Not sure of their relationship with the investor but thank you for the references.

Looking for recommendations for experienced foreclosure lawyers in and around west monroe, LA. This is not to stop a foreclosure but bring action on a late note.

@Todd Carpenter look into shawn huss at TCF, used to be chemical bank. they have 5 of mine all under 100k. they do not do portfolio loans though.