All Forum Posts by: Mary Ciccarelli

@Kristen Ambrose this was extremely helpful!! Thank you so much!

@Abel Curiel thanks!! Appreciate the feedback.

So having a joint account makes sense BUT my team and I will also have separate deals outside of this partnership with this other person. So we’d need two QB accounts then?

My team and I recently created an LLC and are in the process of securing 2 deals that will be owned 50% by our LLC and 50% my our partners' LLC. How should we go about recording data in QuickBooks. Do we both record 50% in our own separate QuickBook accounts or do we need a joint account now??

(It’s also on the docket to create a QB account so please excuse me if this is a silly question as I’m not knowledgeable on the platform yet!)

@David M. Good points. I may stick to excel for now then. Thanks for your insight!

@KC Pake this was extremely helpful! Thank you for taking the time to provide all that info!!

I’m looking for a way to document all basic and financial details of each deal we purchase (downpayment, how we funded it, lenders used, mortgage, interest rate, rent, cash flow, when it was purchased, partners included, etc). I was going to create an Excel spreadsheet but now I’m wondering if there is a software system I can use, or is this something Quickbooks would be good for?

I’m looking to rent a ROOM out as a MTR. It’s a 3 bed / 1 bath. Does anyone think sharing one bathroom with (say a traveling nurse) would be an issue for a MTR?

Looking at my first property and there is a severely intense odor in the basement (concrete) and some slight orders on the other levels of the house as well (hardwood floors and carpet). We suspect the odor might be cat urine as the owner lets a stray cat into his home. I know cat urine can be extremely tough to get rid of and will have to possibly sand and deep clean floors and then seal them.

Main question: Is it possible to fully remove the smell of cat urine? My RE agent told me there is no guarantee and you might have a lingering smell forever.

So, is all this work worth it, being it probably doesn’t force much appreciation?

@Craig Osborn thanks Craig! That is actually the website I started using thanks to my agent’s suggestion! :)

I’m looking at a property in the Lehigh Valley, PA area that needs a lot of TLC. It’s a 3 bed / 2 ba at 1,760 sqft.

I’m looking to renovate the kitchen and 2 bathrooms completely (which includes new appliances) replace the carpet throughout the house (with hardwood flooring possibly), and will have to remove wood paneling from walls and replace with sheet rock and paint. Not sure how easy it is to remove that old school wood paneling?

Also, there are drop ceilings ... I hear those can be a nightmare as you never know what you will uncover underneath. So not sure how costly that could end up being?

Just looking for estimate reno costs as this would be my first time!