All Forum Posts by: Cassidy Burns

Hi BP,

I am looking for referrals for a small portfolio lender in the Princeton, WV area as well as a recommended property manager.  Any suggestions are greatly appreciated!

Hi @Charlene Isoh agreed with @Ozzy Sirimsi in terms of the multifamily.  Most individuals come onto the site have very similar "matrix".  Just know that every market is completely different and has a different investment strategy that fits the location.

Good luck!

Hi BP,

I'm just wondering if anyone has any feedback on how the documents that BiggerPockets is selling turned out ?  Worth the purchase?

Thanks so much!

@Jared M Pilarski welcome to BP!  

I know that in Washington DC Condos have been historically great over the last 10 years.  Cash flow may not be as high but appreciation and principal pay down/equity build up is high due to the higher rents being collected.

IT ALL DEPENDS ON YOUR PERSONAL STRATEGY!

Good luck!

Welcome to BP @Eugene Vorotnikov.  As always, @Russell Brazil is correct regarding the DC multifamily market, very competitive, low inventory, and even smaller returns.  However, if you create a great marketing campaign you can find opportunities that way.

Good luck!

Good Morning BP,

As Tax Season approaches, and this being my first full year of real estate investing, I realize that the one task that I personally am absolutely am horrible at and hate doing is bookkeeping. I have tired google sheets, quickbooks, writing everything down but I just can't seem to find a good system that works for me and/or that I can easily and systematically implement. I have hired 2 VA's over the past 2-3 months to input data into quickbooks and they haven't panned out either.

Do you have suggestions on a low cost yet effective way to get this off of my plate/have everything in one place?  I know I could have my accountant do this but it is extremely expensive for the 11 properties that I currently have. I do however plan to purchase 20+ units this year but feel as if I should get this system in place before I get in over my head.  

Any online platforms/property management platforms that are efficient for this?

Any suggestions are greatly appreciated. 

@Bryan O. market rent for a 2 bed/1 bath is $600/month.  I had rent set for $625 and then she has 2 small kittens so it is $25/month per cat for the pet fees!

Hi Everyone thanks for the great advice.  I really appreciate it.

Good Morning BP,

I have a wonderful tenant who has been with me for 8 months now and just reached out to me yesterday that she has to move May 1 as the rent is a littler higher than she would like to be paying ($625 + 2x$25/pet Fee= $675 total)

The particular unit was a BRRR and has had a lot of very nice updates, I have refinanced, pulled all of my initial investment out, and is now INF% Cash on Cash and still has 30% Equity and is cash flowing $200/month after all PITI, expenses, cap expenditures, property management, etc.

The Question is, do I offer to reduce the rent to maybe $625/month in order to keep the tenant for a longer term lease?

Would love to hear your thoughts.