All Forum Posts by: Jeff Hamel

Have you tried LT Services in Seattle. 

@Rebecca Kirkwood you did not mention if they are 8 SF homes or 8 MF complexes. Are all the properties owned under one entity or individual owner? Are they each separate LLC's? This may be why they want or need to be separate accounts.

As the management company though, you should be able to specify what you are paying for regularly/monthly in your management agreement ( debt service, utilities, insurance, taxes, etc. ).  Pay those monthly then distribute the rest of the cashflow to the owner either monthly or quarterly.  Rent collection and bill payment for each property could all be done through your own property management account and software for tracking. There would be an itemized report for them to keep things separate.  

Do they currently have separate accounts?  Can you just have access to those current accounts and checks?  If they keep their extra cash in there and don't want to give access to that they could set up a separate savings account for each and move the cash, less expensive and no checks to order.  

@Basit Siddiqi thank you for your reply.  

Yes, already working with a CPA.  They referred a couple of bookkeepers, but both are full and not accepting new clients currently.  I am now reaching out to this community among others.  I have also fallen into looking on Craigslist...  Always prefer referrals.  

We are also trying to stay local for the initial onboarding.  Seems like it would be easier to get set up.    

Looking for a great bookkeeper that understands rental properties.  Who are you using?   Who do you recommend?  

Thanks for the referrals!

@Naomi Pinger ,

Please let me know when your next meeting is.

Thank you!

@Gabriel Miller call LT (landlord tenant) Services, they have been great.  They can walk you through landlord tenant law in WA, explain what you need to do to serve the past tenants, or do that for you.  They are a great resource if your property is in King, Pierce or Snohomish county.  They are a business so there is a cost but well worth it.

HI Josh,

Do you have a little more information to narrow that down?  Price range, condition, number of units? 

Give me a call or PM me when you have a minute, I may have a couple off market leads I am still working.  What kind of time frame do you have to name the replacement property?

@Account Closed

Welcome Heather.  Don't overlook your local market.  We are currently working on buying a multifamily in your market.  There are always pros and cons to each market.  Might as well start close to home!  Whole lot less driving time if there is a problem. 

Also would like your husbands contact info as we are looking for good contractors in the Olympia market.

@Chase McEntee

Welcome!  I am also a FF and love RE.  It works great with our career.  Why are you waiting until July for your first home purchase?  Spend lots of time on BP and listening to podcasts.  Lots of great people and information here. 

Best of luck

@Renata McCulloch

Welcome, and glad to hear you are ready to start putting all that knowledge to work!  BP is a great place to ask for help/guidance.  Wish it was around when we started!

My wife and I would love to have coffee with you and see if we can answer some questions.  Give me a call and we can set something up.