All Forum Posts by: Ellen Kirchdoerfer

@Nathan Norway Thanks for your comment Nathan. I was considering QuickBooks since I have used in the past.

I started my real estate investment journey last year and now have 6 units (single family & duplex). I’m using a property management company at this point so I am not tracking tenants. I recently obtained my real estate salesperson license. I started using Quicken last year to track rental properties which is working well but I’m concerned the additional business accounting with the real estate license may be too much to track with Quicken Home, Business & Rental Property license. What accounting software do you use for rentals and business?

@Ben Feder Look to a real estate agent to help you. Often the buyer agent fee is paid by the seller so it won’t be an added expense for you. This agent can help you compare properties and determine values.

Most important - don’t over-complicating the process. Studying the process too long will keep you from making deals and making deals is where the knowledge and experience comes from.

@Ben Feder I suggest getting familiar with pricing in your area. Zestimates are very inconsistent in my area, some high and some low. If you are using a buyers agent, they may be able to find some comps to support pricing on a specific property.

@Jeff Byrne Jump in and get started. The only way to quiet a nay sayers is to show them your success. Even then, they may not understand but that doesn’t matter. The only person you need to convince is yourself.

@Charlene Stovin I suggest staying close to home when getting started. I bought my first SFH last year and have expanded to 6 doors so far this year. There is much to learn getting started and staying in a market I'm familiar with made it a little easier. Start building your local team and processes first.

@Pope Lake There will always be a reason why the current time isn’t right. Taking action is the only way to start creating results.

@Yonah Weiss I have a college degree in Business Administration but feel my past business experience is more helpful in real estate investing. My degree was a bucket list item completed when I turned 50.