All Forum Posts by: Dan Turkel

 Hi, unfortunately the group does not meet anymore

I encourage you to look into getting some kind of HELOC in the 2nd position for one of your properties if you have enough equity

My PM is open to including video walkthroughs for me when doing property inspections but we're not sure how to do it or if it's possible via AppFolio. We know you can include photos in these reports but does anyone know if you're able to upload a video as well? Would love to hear how others are conducting video walkthroughs as well. Thanks!

I appreciate the offer and will let you know if this is necessary! I believe I may have it figured out now though

My property manager uses Appfolio. When I receive my rent payment each month, it’s put into my account as a single deposit. This number consists of the combined rent for all of my properties. It is also net of all expenses like repairs and management fees.

I’m trying to figure out a way to use something like Quickbooks or YNAB to track all of the income and expenses for each of our houses but when I come to the point in which I need to reconcile the account, things don’t line up. For example, if there was a $100 repair for property #2, there’s no transaction in my bank account that exists for it. The one deposit into my bank account is simply $100 less than it would have otherwise been.

I need to track the income and expenses on a property by property basis for tax purposes and I’m having trouble figuring out how to get around this issue. The lack of continuity between the appfolio report and my bank account is something that I would imagine other folks have dealt with.

Any advice would be much appreciated!

@Ryan Watts

I highly recommend Micah with Crux Home Inspections. Feel free to reach out and I can give you his direct contact info and a discount code

@Robby Williams

I definitely recommend going with the 1st option! House hacking is the way to go

@Alexander Szikla

This is great - do you have an example of the type of packet you out together for the appraiser that you'd be willing to share with me? I have an appraisal coming up in a couple days for a BRRRR and would like to be as well prepared as possible for it

@Kyle McCorkel

I love your idea of an appraisal packet. Would you mind sharing what you’ve used in the past with me? I have an appraisal coming up in a couple days and would really like to create a packet like the one you referred to above.

I have an appraisal scheduled for a cash out refinance in a couple days on a property I'm BRRRR'ing. Does anyone have any best practices they can share around how to bring in the highest appraisal?

My plan is to simply open the door for the appraiser, give them a print out of the scope of work so they know about all of the renovations that have been done, and then go out and wait in my car. I figure it’s best not to show them comps that support the value I’m shooting for unless I need to challenge the appraisal that comes in. I also don’t want to be lingering over them the whole time so it seems to make more sense to just wait in the car out of the way.

Would love to hear everyone’s thoughts about best practices regarding appraisals!