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All Forum Posts by: Jeremy Santy

Jeremy Santy has started 5 posts and replied 17 times.

Hello Everyone,

I've recently launched a project management app aimed specifically for construction and trades. The app, named Klip notes, is designed to make project logs and reporting more efficient. It allows you to document progress, add observations and photos, generate professional branded PDF reports, and keep all your data securely backed up in the cloud.

I'm eager to get some valuable feedback from the Bigger Pockets community and people who could really benefit from such a tool. If you have some time to spare, I would greatly appreciate it if you could check it out and let me know your thoughts, suggestions, or any potential improvements we could make to serve you better. Also, please feel free to share this with anyone you know that might be interested. We're working hard to make this tool as useful as possible

Here's the link to the app: https://apps.apple.com/lc/app/klip-notes/id1521060671
Here's the website link: https://klipnotes.com/

Thanks in advance for your time and feedback!

Best,
Jeremy

I agree with @Chad McMahan, it seems best to leave this to a CPA. I do own in an opportunity zone where we are planning a STR build, however, in discussing with my CPA it seems that we will be able to avoid capital gains tax on the sale after holding it for a certain number of years and the percent tax you pay goes down each year. e.g. 5 years is ~20%. This is a ways out for us though.

In the past, we've done a cost segregation and accelerated depreciation on a STR which lowered our tax burden. Have you looked into this? Definitely talk with your CPA about it. I'm not qualified, just trying to help. :) 

Thank you everyone for providing more clarity on how you managed communication between investors and property management. Some great ideas in here and it makes sense to provide photos and video documentation. Do many of you use email for this or add this documentation to Dropbox or somewhere else with receipts and signed proposals for work so you can include this information in one place for tax purposes? 

Stating in the contract that any repair work up to $300 will managed by the PM is a great suggestion. Thanks @Amir Khan

I'll check out PropertyMeld @Brad Larsen. ty! 

@Bob Stevens Wow, that's great. Nice work. if it's okay with you I would love to reach out and learn more about what you've learned.

Thanks again everyone!

Hello! This question is mostly targeted to landlords and investors but would love to hear input from anyone. 

How do you receive project updates from your property manager or handyman? For example, if something is broken, do they typically send a video or series of before and after photos with notes? Is this currently a problem? Curious how this process could be improved and genuinely looking for how it could be improved. Thanks!

Hello, I'm working on a new building project and we'd like to take on a private investor for construction. This project will be a high end spec house.

Anyone have any recommendations or resources they can point me to? I'm mostly curious about how to structure this (LLCs or other), what are common terms that private investors expect, and if anyone has any positive or negative experience with this method.

Thanks!

Congratulations @Austin Fruechting! What a great accomplishment for you and your wife!

@Brian Volland - thank you so much for your insight. Very eye opening (in a good way). Also, helpful to know more about the area. Like you mentioned, I'm looking for a class C in a class A area, or better since I'm out of state and can't manage something closely. You've helped me make the decision to walk away so thank you so much!

@Diane G. - Not harsh at all. Exactly what I needed. I like the property you shared as well. Do you do any investing in Phoenix?

@John Jacobus - Right, there isn't enough info on the deal online. I emailed and ask for more info (talked to the listing agent on the phone too) and currently waiting on more info. The example you provided was super helpful as well. I agree, it's looking like the expenses should be much higher, and since I'm looking for something that I can invest in out of state with as few capital expenses to manage as possible this deal probably doesn't make sense on top of the tenants being more transient like you mentioned. Thank you very much for your help!

@Dovid Staples - Wow, I had no idea that it was up a year ago. :/

Thank you everyone for your help looking at this deal. I'm now more than confident enough to walk away!

Hi BP members! 

What do you think of this multifamily property? Is it a good deal or just an average deal? 

http://www.loopnet.com/Listing/19434737/1812-N-35t...

I'm new to multi family investing and want to avoid making any big mistakes if possible. :)

How do you research markets that have good rental returns? 

I've used this resource titled "Rental Returns and Cash Flow Heat Map" from Realty Trac but is there a better resource out there with more information? 

http://www.realtytrac.com/news/heat-maps/rental-re...

Any thoughts/advice is much appreciated. Thank you!