All Forum Posts by: Bob Malecki

Well for desktop I set her up with a separate user/pw but she works from home so I have her use Windoze Remote Desktop to access my home office server running Quickbooks

Spot on @Andy Mirza, I run 5 single member LLCs and having the desktop version with the Classes feature makes it much better for P&L analysis as well as it is more cost effective than the online version. I actually bought an older HP Probook and set it up as a home server and my bookkeeper can login to it via Remote Desktop to do the monthly reconciliation. 

Thanks @Charles Campbell for the mention, @Gilbert Yeung feel free to contact me it you would like more info. 

Bob Malecki

Notable Capital Management

Quickbooks because I've been using QB for the past 15 years. Also QB has Classes which let you put an asset into its own class along with the income/expenses associated with the asset and you can then run a P&L by class to see your profit/loss on each note in your portfolio

@Mike Colucci Unless you find a greatly discounted deal, you may want to wait on that for 6-9 months for the market to correct, we are somewhere at the top and your equity may evaporate if you buy now, depending on the market you plan to acquire the property. 

@Nicholas Z. well no tax sheltering as the interest income is ordinary income. Also if the equity spread between the UPB and the value of the home shrinks due to major recession, you would be forced to hang on to the note else sell it at a possible substantial discount if you needed to liquidate and cash out. Other than than the myriad of land mines with foreclosure, a performing note with a stable borrower is nice cash flow and fairly low risk.

Bob

@Jason Monaco I sent you a link to the recording. BP will not let me post here on the forum, sorry. 

I agree with Robert Freeborn, if you can't stand the heat then just get out of the kitchen. 

There's quite a few that will service single loans such as yours, I've been using FCI Lender Services for about 6 years now and they provide reasonable pricing and one of the best online portals that I've seen for small note investors such as ourselves. 

@Andy Mirza I agree that there will be vast opportunities for distressed debt in the post-Covid environment, but we won't see those assets probably for another 9 months or more. I'm hesitant to sit on investor capital with no where to deploy it, so we are just going to wait out the market and crank up the capital raise process when the timing is right.