All Forum Posts by: Jillyan MacMorris

 Thank you so much! This is exactly what I needed. I'll think about that source next time I need something clear and concise.

Thank you! I'll PM you too.

A friend of mine is looking to acquire a property he has been renting for several years. The owner of the property is finally willing to sell to him, but he has only ever made a purchase traditionally with a bank mortgage. I think proposing seller financing may be a good option for him to propose. I've heard it explained 100 times on BP and elsewhere, but can anyone recommend a concise video/podcast episode that explains seller financing and how to propose it?

I use Baselane, personally. It's a platform for a few different things! You can collect rent, do your banking (unlimited virtual accounts), and do your accounting. It fills out your Schedule E to send off to your CPA every year! Pretty open and closed. My CPA loves it.

I understand where everyone else is coming from but I do use Baselane, and I love it! It is 100% online and you can open many accounts. For each property, I have a few accounts including a high interest earning savings account for reserves within the platform. If you're curious about Baselane specifically, I'd be happy to show you mine sometime! Shoot me a message directly.

 Thank you for your input! That helps give me some tracks to run on.

Thanks so much for the advice! Common advice I've received from other landlords is to avoid them because they often leak or fail and are difficult to maintain. I have never provided a water dispenser/ice maker in any of my other units, but rather a Brita and ice trays with no complaints. I appreciate you sharing your experience with those makes!

 That is very helpful to know, thank you!

 Thank you! I am trying to avoid an ice maker and probably a water dispenser. Just something basic that is serviceable and lasts.

Baselane was actually built for preparing taxes! The chart of accounts is structured around the Schedule E, so you simply export it and send to your tax professional. This will be my first year submitting from Baselane since I switched from QuickBooks Online and it's already infinitely easier!