All Forum Posts by: Chris Kersey

Hey Ted, 

I use Hemlane for managing my properties . I know there is other software out there that can be utilized as well but after research, I landed in Hemlane. 

For one property, a spread sheet to track income and expenses would suffice to hold all info for your tax professional at the end of the year. 

@Jose Leal

I factor in $15k in soft costs and $10k contingency but it will depend on your specific situation. 

Hey Mike, 

Welcome to BP! 

I'm local to Houston as well and develop small multifamily for long term holds. 

Hey @Mike Gordon I'm not sure about where they cover. 

Each property has it's own policy and bill. There are other companies that offer products that would cover all of your properties under one schedule that would operate with one bill. This is more of a commercial product i believe but may be worth checking out depending on how many properties you have. 

Great idea to utilize a lower interest rate for it being your primary residence and a lower down payment. If you live in it at least 2 years, you have the option to sell within 3 years after move out and not pay capitol gains taxes on up to $250k in profit as a single person. I like having options so something to consider as well!

Link to explain more: https://www.investopedia.com/ask/answers/06/capitalgainhomes...

I believe so but you would want to confirm with them 

I understand why you want it @Kiefer Cheney, it automates rent collection AND late fees if needed. It also keep everything organized. I found Hemlane to be very useful in managing my properties. I do no think it charges the tenant for rent. I'm running 5 units currently through hemlane and it costs me about $45/m. To add units is very easy and inexpensive. I'm sure there are many other software systems out there but after researching, this is the one I landed on. Hope this helps. 

- Chris Kersey 

Hey @Tomcy Varghese

I am a local Houston Agent, investor and ground up developer. I build duplexes in central Houston. I build duplexes. Feel free to connect!

Hey @Andrew Tran

Welcome! Check out Space City REI. It's a local meet up that takes place on the third Wednesday of the month. They just had a meeting this evening that was great.

Hi @Elaine Moy,

Did your agent use the standard Texas Realtors lease agreement? If so, you should be good. 

Send me a message and I can share the Attorney I use in Houston.