All Forum Posts by: James Pollock

We selected Buildium and are now in the onboarding process.  I was impressed with everthing it was able to do along with all of the integrations.  The pricing seemed reasonable and there was an "end of year" special we were able to take advantage of and save a little bit of money.

Thank you to all for your feedback!

We have 21 properties and have been using Quickbooks to manage them for the last couple of years but we have now decided it's time for software dedicated to property management.  I really like the look and features of AppFolio but they would not budge from their 50 Unit minimum so I am back looking for the right software.  

Buildium looks to be pretty descent and has a lot of features but I haven't seen a demo yet.  

My goal is to get something that can handle eLeasing, online applications, maintenance requests, website, listings on other sites, tenant screening, and preferably SMS texting.

Before I go too far with Buildium, is there something else I should look at?

Thank you!

Jay

That is a good point on owner financing.  

My goal right now is to get out of the hassles that come with the "lower end" properties and save on the management burden.  We manage everything in house as part of my primary business and find it is just way better working with the nicer homes in the nicer areas. 

I have been purchasing single family homes over the past few years as rental properties.  As time has gone on, the properties I purchase are getting nicer and nicer which is leading me to consider selling some of my cheaper properties.

Since I have only been a buyer to this point, can someone give me some tips on selling my properties?   I would like to sell (4) of them together if I could.  Should I start out online with Zillow or another site?  Perhaps use a realtor?

What about pricing?  Any formulas or models I should use?

Thank you!

Jay

Buy and holds.  I have a line of credit for the purchase and fix up portion which works really well.   My thinking was that if there was a way to do a line of credit for the "mortgage" I would have continual access to the equity I build and could use that for further investing.

Looking for advice on the best form(s) of bank financing. I have typically been getting commercial loans with a 20 year amortization at up to 80% loan to value. This works fairly well when it comes to holding the properties over time but I have found it to be a little inflexible when it comes to utilitizing any of the equity in the properties. For example, if I have 5 properties on a loan that have worked down to a 65% LTV, there are no easy ways for me to borrow some of my equity up to 80% LTV to invest in another property.

Has anyone had success with using Lines of Credit for not only the initial purchase of the property but also holding it for the longer term?  My thought is that if I had a revolving line (rather than an installment mortgage) I may be able to tap into my equity more easily.

Thank you for the recommendations!

We do all of our own property management and are looking for some resources or courses to help train our property manager.  Would love to find an online course but we will take anything - books, videos, webinars, etc.  

Any suggestions?

(we have single family homes and mini-warehouse units)

Thanks!