All Forum Posts by: Greg Schuricht

@Tim Silvers

Jarom was his name.  Had an answer for all my questions.  Well worth the fee.

At 12 properties you are getting to a saturation point with Quicken.  Quickbooks is a better option (QBO or Desktop).  I personally use Desktop.  There are cheaper options as well (Xero, Stessa, Freshbooks) but I don't have much experience with them.

I've consulted with both Anderson and KKOS. I hired KKOS for a few minor services (LLC setup, property conveyance, and 30 minute consultation). I was very satisfied with the advice I got.

I did two free consultations with Anderson, and both times I left feeling like I was being oversold on something I didn't need. I also felt like they were using fear tactics to get me to sign up for their platinum membership.  I never felt like I was being oversold with KKOS.

If you work with either of these companies, you will not get to work with the faces you see on YouTube.  Clint Coons and Toby Mathis put out great content, but working with their companies is a different story.  With KKOS Mark Kohler is upfront in his content that most clients don't work with him directly.  But the individuals I did work with provided great advice and didn't oversell me on something I didn't need.

The management company wouldn't be bound unless they signed it

@Jason DeMauro I have only used bank fees with QuickBooks, it works great.  I can't speak for anything else.

@Jason DeMauro I use QuickBooks Desktop and love it, but there is a learning curve if you don't know accounting.  There are cheaper options you can learn on (Stessa, Freshbooks, etc.)

@Joseph Odusina an LLC is a good idea if you have sizeable personal assets you want to protect. It's REALLY a good idea if you are partnering with another. Hire an attorney to draft your partnership agreement, it will be money well spent.

Mark Kohler and KKOS, hands down have the best content for asset protection.  

@Benjamin Arritt I use QuickBooks Desktop.  I currently keep separate files for my investment properties, but there are ways to aggregate all this into one personal file and use class tracking for each of your properties.  The reporting capabilities are powerful and would probably give you what you need.

I never understood why HOA's need to go on line 19 either. Management Fees seems more intuitive...

I feel like your lender is needlessly complicating this issue.  Any good accountant should recognize that expense is being double counted.  The easiest fix would be to show them they are double counting it and fix it on their end, but if they are digging their heels in maybe look for another lender and explain the issue up front.