All Forum Posts by: Keith Weigand

What an awesome job @Benjamin Ervin. Looks fantastic.

@Ken Nyczaj I also have a GC as a business partner in our new construction and rehab deals. I guess mind is simpler. We just put in 50/50 cash for the land or the house. He manages the GC work, hiring subs etc. We split all bill during the building or rehab phase. At the end, we simply split the profits 50/50. He recently became a licensed real estate agent so now he will list the properties and get his 2-3% (which we would have to pay anyways). So basically we split everything 50/50 (expenses and profits). We just pay for legal and accounting services, if neeeded.. We don’t include them as partners. If we needed more capital, maybe but we pay cash for our jobs between the 2 of us alone.

I would run the #s and not pay anything more then you would for any other property. I wouldn’t pay a premium just because it’s next door to you. All investment properties should go through the same scrunity and if the #s work, go for it. I’m not sure having a property next door is worth anything more.

Fantastic Job @Joseph Cornwell. How inspiring. 

We require payments to be made electronically. Tenants can pay via ACH, e-check or credit cards. Before this, my tenants were taking the payments directly to the bank and depositing it. Now they can do this from their mobile app. Gotta love technology!

My # 1 preference is business. Real estate 2nd preference.

@Jackie Creighton some of those are expensive for investors with < 100 or so. Check all the features of the various products and compare costs. They vary widely. You know the old say, you get what you pay for. 

Welcome aboard Remi.

if you plan to add more properties to your portfolio, make sure you pick the right software that will scale with you. You don’t want to start with one software only to have to switch as your portfolio increases. Plan ahead

A great property management software will save you a ton of time and certainly pay for itself. If you have smaller # of units, shop for full featured product at the best price.