All Forum Posts by: Markus Shobe

Try to keep it simple. I would suggest just having one bank account and one credit cards for your portfolio. It doesn't matter if you have an LLC or not. You just want to track your business transactions separately than personal.

Don't restrict yourself to a city. There are a lot of great real estate virtual bookkeepers out there. 

It all depends if you need the money and what your future plans are. If you really need the money I would go for cash flow. Also, since you are going to be living there than your safety needs come first before the other two. 

I always say if your time should be better spent somewhere than it is time to outsource it. Could you do the books and taxes, sure you could, but if your time is spent somewhere better than why do the tasks. If you decide to get an accountant and bookkeeper, make sure they both specialize in the real estate industry. 

I have a client that uses Amazon Business Prime through Amex and they get some pretty good points off of it. Overall I think Amex has a lot of good perks.

Greg is right on the money. Just create a contract between yourself and the LLC and sign it.

If the bookkeeping is becoming a headache to you it's probably time to outsource it as it is only going to get harder the more properties you add. It is good that you have a separate bank account for your real estate business. You can run the 16-24 unit apartment through the same bank account if it is the same company. 

I would first look on bigger pockets since you are already on here. Upwork is okay but you want to make sure that they specialize in real estate bookkeeping. You don't just want to hire any bookkeeper, you want to hire one that specializes in real estate bookkeeping. It may cost you a little more but it will save you so much time and headache in the future. 

@Joy Allen

I understand were you are coming from. I would love to talk to you about your bookkeeping needs and how we could help. We don't push you onto a calendar. We are always available to help with any questions that you may have as we always put our customers first. 

Best,

Markus

If the numbers make sense do it. If I were looking to buy now I would be looking to house hack as long as the numbers make sense.