All Forum Posts by: Gentry B.

I am looking for a property management software for owners, not for property managers.   I have properties in a few different states, so I have different property managers for all of them.  I track the income and expenses for each property, but as far as managing tenants or marketing property, I leave that to my PMs.  I have tried Quicken and Quickbooks, and they are both terrible.  Any recommends?  I can't find anything that is developed for that particular niche. 

Is this still available? 

I'm looking to buy a mobile home park(s).  I am seeking a broker reference.  The west is preferable, but I will buy anywhere. 

Is it better to buy older properties that are cheaper, with a higher return, and higher maintenance, or more expensive properties with lower returns and less maintenance? 

I was asked to do a hard money loan for $60k.  The borrower needs it for a bridge loan to finish a rehab.  There is already a $180k hard money loan in first position.  Is it wise to make that loan, and if so, how do I protect myself with collateral?

Hi @Matt Walden,

Depending on the age of the unit, if you won't be paying too much in repairs, I'd do it.  $1300 month cash flow for $119k is worth it to me.  As the caveat, I'm much more cashflow centered than appreciation.  But you have a good interest rate, and I have found the BP calculator to be very conservative, which is what you want.  

I'm ready to make the leap to larger multifamily units.  What do I need to watch out for, look for, and what are some traps that I should avoid?

Wow, @Tim Milazzo, Thank you!  That is great information.  I will check out your blog.  Thank you again.  

I have been doing buy and holds for some time now.  But that is not the big time.  I want 100+ apartment complexes.  How do I get a loan of $5-10 million?  I wouldn't know where to begin.  

Are there rules of thumb to follow for how much cash flow a property should make vs how much you spend?  Are there minimums?