All Forum Posts by: Brandon G.

I'm looking for a spreadsheet that would allow me to keep track of all my income and expenses.  I'd like to find one that will allow me to individually keep track of each expense per unit/building, but all the one's I've seen so far on the site (in the spreadsheeet area and doing a search on the forums) just would have me tally up all my expenses and enter them per month rather than breaking them apart in a separate column.  Does anyone know of a good spreadsheet that would allow all expenses to be entered individually?

I have one duplex and manage two single families and plan on purchasing 1 - 2 more duplexes in the next year.

Thank you,

Brandon

@Soh Tanaka I have been looking for a well rounded spreadsheet to use and I would appreciate taking a look at yours.

Thanks

Thanks for all the great feedback guys. I appreciate it.  I tried to post earlier but it wouldn't work.

I was informed about a property that is bank owned and has been on the property for 90 days.  The person I know was shown the property (3 bedroom 2.5 bath) by a real estate agent.  I'd like to look into the property to see if it is worth taking to an investor.  Would I be better off contacting the real estate agent that has already shown the property or should I attempt to contact the bank itself?  Is there another way that I should approach this?

I have never flipped or wholesaled a house and I'm searching for a first deal to take to a new investor/flipper I have met to try to learn for my first deal.

Thanks

We have used Smartmove once and in that instance we did not have to enter any information.  All we had to do was get the tenant's email, which we got from an application, and it was on them to sign up, fill out the information and pay the fee.  We got an email with a report when it was done.

Our new to us, non owner occupied (first property) duplex has two very, very tall decks behind each unit that goes down to a creek.  The units are on a steep hill.  I may be off, but I would say the rear decks are 30 feet or so.  The units and decks have been inspected by a licensed inspector previous to the purchase of the property.  Is there anything I could or should add in the contract to help protect myself in the event of someone falling off the deck due to their negligence?

Thanks,

Brandon

Thanks for everyone's opinions and insight.  I appreciate all the perspectives.

Brandon

The existing lease went month to month after the first year was over.  Going with a 6 month lease and then going month to month after that would be a good idea for raising after that time.  The reason for staying with the current rent is that there has already been a discussion that the rent will not change immediately.  One side just recently became vacant and I don't want two vacant units the first month of ownership since this is our first purchase.

The tenant doesn't have a current lease, as they have been there over a year.  I am going to have them renew the lease as soon as we take ownership.  I don't want to raise the rents immediately, I want to raise them in about 6 months.  My question is that if I have a lease that says the rent is $600 and he signs a one year lease next week, what is the best way to go about raising that rent to $700 in 6 months?  Should I have it stipulated in wording in the lease that the rent is going to be raised in 6 months?  My concern is that if I have him sign a one year lease next week, then the rent would be locked in at that price for a year, not allowing me to raise the rent, which is below market rent now due to raising prices in the last 3 years.

We're about to close on our first property, a duplex.  One side is recently vacant, the other is rented.  The current rent is 600 and we're going to raise the rent on the unrented side to 700.  I'd like to raise the rent on the currently rented side in about 6 months.  A new lease agreement will be signed by the current tenant.  My question is, if the tenant signs a year lease at $600 month, what do I need to do to be able to raise that rent to $700 in a few months?  Can I simply state this in the lease agreement when he signs in?

Thanks,