All Forum Posts by: James Nesh

Hello All!

I am looking for new software to better manage my growing portfolio. Currently own/manage 55 units, adding another 20 units this year, and will be doubling in size next year. We have used Mike Butlers Tenant Tracking and Investor Books system for many years. It is a preprogrammed property management company file using quickbooks desktop. This has worked ok for us, but there are some drawbacks. I am looking for a software that has the following capabilities to help us better serve out tenants, and grow as a company:

• -Calculate water charges based on individual meter readings
• -Accept maintenance requests online, with ability to send to maintenance staff 
• -Record hours worked by staff to prepare for billing, classed with location work was performed
• -Accept online payments
• -Report of deposited payments based on property location

I have tried using the Buildium trial, this seems to serve most needs. But there is no way of creating custom reports for bank deposits. Additionally the ability to calculate accurate meter charges are limited. I am planning to keep using quickbooks to manage the business side of things (profit, loss, chart of accounts, etc), and would strictly be using this new software for tenant management. 

Any input would be greatly appreciated :D

Just to clarify, this would be for cars entering the parking area.

Currently own and manage a community of 22 units. In the process of designing another 19 units to add to the mix. Would like to revamp the entire community to increase demand. Currently, due to empty space some neighborhood kids gather in the parking lot at night.

My solution is to add an entrance gate to the community once constructed. I have no experience in managing a community with something like this, and not sure if the cost will be small enough for a 41 unit community.

Anyone have experience with entrance gates? Is the upkeep more headache than it’s worth?

Thanks for any input!

Would love to get the bigger pockets community opinion. I currently have a lot of equity in my portfolio. I have an opportunity to refinance one large property, and I’m sure most of you are with new lower rates.

But should I be taking out more cash? The way I see it it is a good limbo time before LTV, and values go down. I want to secure as much capital as possible to be able to buy once a correction (no matter how big or small) happens. The way I see it worse comes to worse I can pay off other properties (with higher rates) with the extra capital I will be able to get from one location.

On the flip side this market may take a loooong time to recover. Rates may get even lower than now, and who know we might just hit a depression lol.

Waiting to see how government policy handles all this.

@Neil H. Initial thoughts: homestead property tax deduction. Potential to have better loan terms, primary residence vs investment property. But i’m not a financial advisor

@Son Phan Personally would consider more units for more income/upside. At 400k mortgage should be around $2k. Rent from the other units should cover most if not all of that. My biggest criteria is value-add potential. Either should be able to update the units, or build more on site. But i’m not a financial advisor

At some community locations, including our office, we have a deposit box where rent can be dropped off. Checked periodically, it doubles as a key and letter drop as well. Cash isn’t accepted; too easy to lose, hard to deposit. Other options are mail to PO box.

They can also setup via their bill pay online at their bank. Tenant schedules payment, we are mailed a check.

Hi!

I am looking to sell a property, but am not sure how other agents markup aerial imagery of lots? I have an example below where nearby stores, an outline of the property, and other comments are visible. 

Hi everyone. I recently pirhased this property in Central Florida. It has a triplex up front (pictured below) and one unit in the back of the property. I have just put a new lighter colored roof on, and have plans to add a nice parking area. Right now i’m stuck on paint color. I want something new and fresh, but will stay current for years to come (we keep our properties for long term). Any help or suggestions would be greatly apreciated.