All Forum Posts by: Dan Arcaro

@Melvin List , could you elaborate on what you mean by that ?? 
I am also a tampa investor, looking to switch banks.   I have a good amount of equity and also steady income from multiple properties, but getting equity lines is no easy task.   I keep hearing "local bank"  and i'd love to switch to one that is most favorable to an investor in my situation.    Any info you could provide would be greatly appreciated-  Thank you! 

Can someone elaborate on this ? I have the same situation where I need to deed a property into my LLC's name. Is it appropriate to just download a form and do a quit claim deed to my llc, or is it true that it would create issues with title insurance, etc? I'd prefer not to get an attorney, but also don't want to do anything stupid. Any info would be greatly appreciated! :) thanks

My strategy is very similar in that i put up most of my own cash and leave it in the rentals i have, but my returns are nothing like yours (20%+ cash on cash after expenses?!)   In my opinion (and As Brandon Turner would say), you're a rock star ... i may be missing something but i'd say what you're doing is any investors dream-   Are there many areas of the country where you can rent <1000 square feet for $2000+??  Nice work ! 

I'm in the process of doing a deal that is listed as an REO , but is owned by (what appears to be) an investment group, definitely not the bank that was holding the mortgage on the property. This property was bought about 4 months ago, so i'm not sure if it's just a way of implying that no additional work was done , but should I be otherwise concerned ? Thank you BP !

I posted a similar question a few weeks ago, because i was having trouble with keeping track of every expense for multiple rental properties.   (Some paid by check, some by credit card, and even the occasional cash expense)   I found that using Google Sheets worked amazingly!  It allows you to easily manage one spreadsheet on multiple devices, and it's a breeze to record any expense right from your phone.  You'd definitely want something like quickbooks if you're big enough, but Google Sheets is perfect for making tax time much more pleasant!

Hey there BP - I came across an interesting situation today that i was hoping to bounce off the veterans :)  I currently have 2 rentals, and am looking to add another 2 in the next 6 months.  I'm looking at a few townhomes that are available, 1 and 2 br's.   Because the taxes and maintenance are so much higher on the 2 BR , but the rents are not similarly proportionate, the monthly cash flow per month and cash on cash return is actually much less on the 2 br.    The 2br needs some work while the 1 br is ready to be rented.   As a result, the 2 br is priced only a few thousand more than the 1 br.    Obviously the appreciation would be much greater on the 2 br but if my goals are long term rental income, is there anyone that would say the 1 br is the better route??   I appreciate your replies! 

Thank you all for the input!   My issue is not so much with receipts , but with the ability to track every expense, (while sometimes paying cash, using multiple credit cards and for multiple properties) all while being on the go-  I will check out the suggestions!  Thanks again :) 

I'm a novice real estate investor with 3 rentals and have done about 5-10 flips over the last 3 years.   One of the biggest problems I have is that I'm not very good at tracking every expense, and associated them to each property.   I know there are countless ways of doing this on a computer, but I was wondering if there is a smartphone app that would make it easy to log things like when i pay cash, or use a credit card, and get them into Excel easily.    I thought of using google drive with a spreadsheet, but that seems clumsy.  I am inevitably NOT tracking every expense, especially cash.   Any input would be greatly appreciated.   Thanks so much! !