All Forum Posts by: Jake Baker

Hi @Michael Thyssen

I'm happy to take a look at your books.

@Alec Jacobs

I often recommend Relay to my clients. It’s designed for small businesses and landlords, allowing you to create multiple accounts for rent deposits, maintenance, and taxes. Plus, it integrates seamlessly with accounting tools like QuickBooks, making bookkeeping much more straightforward.

Whichever account you choose, look for one with no monthly fees, online banking, and features like automatic bill pay. These small conveniences can save you time and money in the long run.

For rent collection, you can try Rent.app, which is easy for tenants to use and keeps everything streamlined. Alternatively, if you’re using QuickBooks Online with a plan that includes the "Payments" feature, you can collect rent directly through QuickBooks while staying on top of your bookkeeping

@Amir Portal

Fort Worth (Southside): Affordable entry points with growing rental demand due to development and school proximity.

Arlington: A solid mix of price points and strong rental potential, especially near UT Arlington or entertainment districts.

Focus on areas with rising population growth, job opportunities, and low vacancy rates. I’d recommend connecting with an investor-friendly agent in DFW to find off-market deals or fixer-uppers within your budget.

@Cosmo DePinto

I agree with @Jaycee Greene that you should narrow down your buy box. Know precisely what you are looking for; wholesalers/agents can help you better. 

For a solid BRRRR team, you'll want to connect with:
- Investor-friendly real estate agents who understand cash flow properties and off-market deals.
- Contractors or renovation specialists with experience in cost-effective rehabs to meet ARV goals.
- Property management companies that can maximize rent and minimize vacancies.
- Lenders specializing in cash-out refinancing for BRRRR strategies.

If you’re not already connected, I recommend checking local Savannah investor meetups.

@Jacob Riddle

Learning to wholesale and switching to BRRRR is a lot to learn. I recommend sticking to one. To find good deals for your BRRRRs, you will need to network. I recommend local meetups. https://www.biggerpockets.com/forums/521

@Aristotle Kumpis

We do 10+ Flips/BRRRRs annually and fund with Hard Money and Private Money.

Hard Money will fund 90% of the purchase price and 100% of the rehab on a draw schedule.

Our Private investors will fund the remaining 10% of the purchase price, the first portion of the rehab (to be drawn later from the HML), and the holding costs.

Of course, with private lenders, you must give up equity or a return on the debt.

@Justin R.

How many properties do you have? Just trying to gauge whether your bookkeeper is overcharging, especially if you are splitting duties.

I would be careful with real estate-specific software. I like @Basit Siddiqi advice about trying both software to make sure that you like it. 

These software are often excellent platforms for tracking income and expenses for investors; being user-friendly. For many, their downfall (and really what makes it so easy) is that it is a single-entry system. This means there are no checks and balances to ensure all transactions are entered correctly. A double-entry system (like QuickBooks) allows you to reconcile your bank statements,

@Nicholas A.

House Hacking a primary residence is the best way to generate wealth. After House Hacking, or if you can’t find a way to House Hack, you should invest where you feel you have a competitive advantage. I invested in Jacksonville, FL, because my old job would fly me there multiple times yearly. I learned about the city over time and began my out-of-state investing journey. 

Whatever market you choose, be sure to nail down your buy box. This will allow your agents and wholesalers to better assist you.

@Casey Graham

Aggregating 100 doors in a growing market could create significant value for an institutional buyer. The key is to standardize property quality and management systems, which would appeal to buyers seeking scale.

If you’re thinking long-term, holding these properties for cash flow while leveraging local appreciation is also a strong play. A mix of short- and long-term strategies could hedge against market shifts.

Borrowing allows you to scale faster, especially if you can secure favorable terms. For example, using 70-80% leverage could preserve your cash for more deals while maintaining strong returns.

A blended approach might work: pay cash for smaller deals to avoid delays and borrow on more significant properties to spread risk.

@Cosmo DePinto

The BRRRR is alive and well. However, it is not what it used to be. "Perfect BRRRRs" are rare nowadays. That doesn't mean you shouldn't BRRRR. It is a complimentary strategy to pull some of your money back out and hedge your bet.