All Forum Posts by: Bryan Stottlemyer

Whoa!

@Jason Appel take this with a grain of salt, because I’m still learning all this, myself, but...it seems to me, when I analyze it, the only “rule of thumb” criteria it fails is the 2% test, which is relative. But we also don’t know all the other hard numbers (capex, etc).

Also, I’m familiar with H’town, but I don’t have any real intimate knowledge of that neighborhood, but I do wonder how stable the clientele/tenants would be? High turnover? High maintenance costs?

In practicing analyzing deals/real estate, I've been using the DealCheck app. From my admittedly limited perspective, it seems pretty good. I also like that I can import directly from Zillow, edit numbers, and even analyze data over time. Anybody else using any different software or apps to crunch numbers?

Although I'm still in the early stages of my RE investing, I've looked at several property management apps - for when the time comes to use them. My requirements are simple, though. I really just want a simple way for the tenant to pay me, an easy way to communicate, and a way to accept and screen applications. I do like the software/apps that allow for document storage for receipts and other business expenses/paperwork. But there's also business management software that does that. Here's the few that I've looked at so far:

Buildium looks good, and costs $47/month for the level that I'd use.

Appfolio is expensive!

Tellus is free and looks good. 

Turbotenant and Rentredi are on my list to look through, as well. 

Welcome, Christine. I began this journey when I randomly picked up a book at a local bookstore (How To Invest In Real Estate), which lead to my second book that I’m nearly finished with (The Book on Rental Property Investing). Both have been fantastic and I’d recommend them as great resources to both, answer questions AND generate new ones!

Good luck!

@Jessica Derr, I won't be able to make that one. How did you find out about it?

I'm new to learning about real estate and investing, but I'm completely captivated by all the information I've found, so far. It's great to see the professionalism and networking possibilities right here in the Eastern Panhandle!

@Jessica Derr, I see you read Brandon Turner's book on Rental Property Investing (I'm picking that one up tomorrow). I just finished Brandon and Josh's book "How To Invest In Real Estate". I'd recommend that book to you, as well, as getting through that one has already answered quite a few questions for me. 

Best of luck to you!

I’ve experienced this a bit, as well. For no identifiable reason, I feel hesitant to tell friends/coworkers what I’ve been reading/learning. I’ve enjoyed talking to folks that are already involved in real estate, but it’s been tough to be wise open about it. The people that I’ve shared my thoughts with have provided pretty insightful conversations - whether it’s with advice or helping me confirm that I’m making steps in the right direction. I also think there’s value in telling people your goals because it helps to hold you accountable to yourself. Talk the talk, walk the walk, right?

I was browsing the world of digital planners recently. I secretly miss the days of notebook style planners, but I also really enjoy technology and keeping things simple with electronics/apps. I was hoping to find an app or digital planner that would sync with my Google calendar, and allow me to take detailed notes (think Goodnotes app), as well as keeping a to do list. Not that there's anything wrong with having the separate apps for those things, just hoping to find an all in one. Anybody got anything cool?

Good luck! I may add that David Greene book to my reading list, once I finish the book I'm on. I love finding great reading material (for ANY subject, really). I'm new to RE, but it's been a lot of fun finding good resources, so far. One of my first goals is to actually interact and network with people to help my learning process. Best of luck to you!