All Forum Posts by: Danielle Wolter

So I use Turbo Tax, but am an accountant myself and have a very strong grasp of taxes so I know what needs to go where. If you don't have a good grasp on tax law, I would hire a CPA. The expense is worth it. 

Welcome to BP!

@Stephen Lynch I don't believe that recasting will lengthen the term of your loan. It just reduces the payment based on the amount you pay against the loan balance. Typically, you have to put at least $5K towards a property before a lender will recast it. I would weigh doing that against using the cash to buy another property. I have considered doing that myself, but choose to keep the cash to buy new properties instead of paying down the balance on my current one. 

@Corey Martin Thanks so much for the kind words. Keep in touch!

@Jason Lacourt You left out insurance and Capex (at least 5-10%). Your vacancy also may be a little low at only 5%, unless this is in a really high demand area. And it is unlikely you won't have to make any repairs when you purchase.

@Larry Alexander I use CIT bank - they pay 2.35% interest. I really only keep emergency fund money in cash though - everything else is invested. 

@Debbie Zimmer There is typically a lot more that goes into the job than just the cost of the wages. For instance, most of the guys at the office I work at make around $20/hr. We bill around $90/hr to include overhead costs such as insurance, tools, office expenses, etc. Plus a little profit. I'd get quotes from multiple contractor just to ensure your getting a decent price. Personally, I much prefer to pay by the job instead of by the hour. 

@Brian Edwards It really depends on what your goals are. I started my MBA (not a top30) 4 years after my undergraduate. My employer footed the entire bill, with the stipulation that I work there for at least 2 years after graduating. I have since moved on from that job and am currently CFO for a small company. I believe the MBA helped me get here (along with a lot of hard work of course). It also gave me a great well rounded education that I believe will help any business owner. My undergrad was in accounting, but the MBA gave me a broader knowledge of business, which i believe also helps me run my personal business on the side. So I think it can be very helpful, but it really depends what you plan on doing with it. 

@Neel Patel Cash flow is negative?

Hi @Antoinette Wayne! I am also a Memphis investor always looking to connect with other investors. Feel free to send me a PM!