All Forum Posts by: Joe Sherman

@Rylan Kean, since I have not hired any agents I have not picked a back office software.  As for software for property management.  Buildium ultimately will be the solution.  A bit more than I need now since I only have one door at this time.  I am using Cozy until I get a couple of doors under my belt.  Been focused on the real estate transaction side alot..

@Kim Meredith Hampton Thank you for the input.  

@Tracy S.  There are a lot of real estate professionals on this site and I am sure you will connect with one that can assist you in your search.

@John Oliver Mendoza I personally would not rent a property to a family member or friend as stated above.  I think it can cloud the business side of the deal.  If you rent to someone you know personally, it may be harder for you kick them out if they cannot afford to pay the rent.  To alleviate that problem, you could take yourself out of the equation and put the business side of it in a property manager's hands.  As for the second mortgage it is a matter of qualifying for the loan.  

Lastly regarding the multi-family purchase as @Terry Lao stated you can use the rents from the rented units to assist with qualifying.  I am not an expert with the loan side but my understanding is that a duplex is easier to qualify for than a tri or quad plex for loan purposes.  It has to do with the formula they use for financing.  Check with a mortgage broker to verify.

You can contact Angie West at First American Title.  Shoot me a message if you are interested.

Good morning BP.  I have searched high and low for an answer but have not found anything on this topic.  I have been licensed for 12 years and  recently passed the broker's exam in California.  My motivation for taking the broker's exam comes from my desire to open a property management company.  Working with buyers, sellers and investors I have found investors looking for someone who can handle not only the real estate transaction but also the management of the property after the fact.  From post on BP I have decided Buildium looks to be a good software for property management starting off.

I am looking for a good brokerage management software.  I plan on hiring a couple of agents and a couple of support staff.  Anyone have any software recommendations for managing commissions, back office and transaction management?

@Patrick Senas man you have quite the mess also a large EMD. Many moons ago when I was a new agent I had a similar situation happen. The big key will be the talk between the brokers. Hopefully this can be solved without mediation.

Josh Sabourin I am sorry I have to disagree with Thomas S, not from an agent standpoint but from a personal standpoint. Like I said I bought my own SFR at 24. Who is to say what life has in store for you down the road, but saying you're to young for the financial responsibility of owning a home is a misguided statement.

Josh Sabourin there are many websites to use for searching but at the end of the day you should probably pair up with a good agent who can help you evaluate the property based on current rental income and the expenses associated with each property to find the best fit. Feel free to contact me if you like if not I'm sure quite a few agents will chime in offering their assistance.

Josh Sabourin I bought my first home around your age and I was 24. My roommate moved in with me temporarily. I wish someone had told me to invest in duplex at that time. My recommendation if you have the down payment, credit and income would be to buy a duplex as your first home and instead of renting a room to someone rent the other unit. You will be happy you went the multi-family route.

Tiziano Ovale yeah no problem.