All Forum Posts by: David Hathaway

Thought this would be a good thread to share what apps/tech everyone is using to make their real estate business more efficient. We have been using 

1. MileIQ which is amazing for tracking the miles you drive seemlessly at the end of the year

2. Quickbooks for book keeping

3. Trello for work flow and day to day operations

4. Streamyard - for content creation paired with Youtube

5. Tinyscanner - for creating PDF's

6. Dotloop - for signing docs

7. Buildium - For property management and rent collection

I am sure I might be missing some but would love to hear what is helping everyone create less stress and more efficiency in their business. Happy Thursday!

Ryan Greenberg, I don't think I'll be making it to BPCON this year but would love to connect as a content creator on youtube

@Jessica Sudyn we use Buildium and it's simplistic and works well for our portfolio. Good luck

Joe where were you thinking about purchasing in Baltimore we have a relatively large portfolio in the City. MyMDRentcourt.com can help you through the entire eviction process. Feel to reach out if I can assist any further.

Not sure totaly what your looking for for but we do some call a property background prior to purchase basically checking water bills, citations, permits, zoning, etc. Exactly what it says a background to make sure we uncover anything and everything. It looks like the image below and we have links to each site because I can't always rmember how to get to them. This one is for Baltimore, MD in specific where the majority of our 50 units are. Hope that helps!

I've been looking at short-term rentals and noticed just recently more inventory has come on in the market at least in Massanutten Resort. Wondering if anyone else that's looking at short-term rentals as noticed an increase in inventory and price reductions starting to happen? My assumption is the supply of STR and people listing them have pushed ADR down and now interests rates don't justify the purchase price thus price reductions. Wondering what everyone else is seeing out there

@Miseker Wingate and@London Hanson There is a ongoing Friday lunch @ noon at Spirits West where investors, wholesalers, and anyone in real estate meets. It's a good place to start along with some of the local REI meetups.

Looking at meetup.com and just search REI meetup on google and you should be able to find a couple. This one below is pretty good not sure if they have virtual though.
https://www.meetup.com/baltimore-reia-meetup/ 
And here is one where they have a virtual meetup
https://www.eventbrite.com/e/baltimore-learn-how-real-estate...
The is a local investor Brentin Hess that has virtual meet ups that I haven't been to personally but he has great guests and is well known

Hope that's a good starting place

@Rashidat T Ijadunola

Are you trying to invest in Baltimore, MD or another location? There are a couple lenders we have used that offer DSCR I can send you?

I love the transparency and have experienced everything you laid out for newer investors building our 50 unit portfolio. I agree it is definitely not all cash flow and sunshine and often the numbers don't tell the whole story with a lot of hidden fee's, high utilities, that you end up finding out later. Some things investors can do to be proactive and mitigate risks of investing in the city are

- Have a great local team

- During rehabs place curtains up, do leave trash outside as it attracts criminals and more trash

- 7.) For eviction - check out mdrentcourt.com we have been finding it takes 3 months

-3.) MDtaxappeals might be able to help you bring down your tax bill if you appeal. It is about a 10 month process though

- Walk and drive the streets prior to purchase to really get a feel of what is going on around the property

Sorry you have dealt with the stress and glad you have shared your experience with others

Dave

@Miseker Wingate and@London Hanson There is a ongoing Friday lunch @ noon at Spirits West where investors, wholesalers, and anyone in real estate meets. It's a good place to start along with some of the local REI meetups.