All Forum Posts by: Maxwell Anyimah-mensah

can you please update on how using quickbooks is going for you? 

Allan Brooks We visited during the 3rd quarter of last year to consider investing in a few small multi properties in Columbus, But decided to buy in Washington with that capital... We should be coming back in the second quarter of 2016, I would really like to meet and a talk about exploring the market over there... Best of luck!

Michael Conrad So let's assume that the other unit of the duplex pays $1000.00 a month rent, And your room mate pays $600 a month to live with you in the unit you live in... What I would advice you do is to add $400 a month from your own bank account into the savings account you have for that duplex... After you pay the mortgage from that account, just leave the remaining balance in there as your RESERVES. Rent from renter---------------$1000.00 Rent from roommate-$600.00 Money from you-----$400.00 Total from your unit------------$1000.00 Total Rent from your duplex----$2000.00 Less: Mortgage-----------------$1500.00 Money for Reserves-------------$500.00. If this numbers work every month for about 3/4months, You will have enough money in your reserves to pay your mortgage each month as your wait for the Rents to come in... And that's how I built enough capital from my other down payments as well.

Michael Conrad I hope this will simplify the process for you... I have a room share roommate in my current house, and I also have another rental property... So what I have set up is another savings account linked to my current bank account... That is where I deposit all the checks that come in from both the roommates and the Renters. This makes it very easy for you as a beginner to track and have proof of where all that extra checks are coming from monthly... I then have it set up for all expenses and mortgage payment to come out of that same saving account.. This process enables me to keep all the real estate money separate from my personal finances.. I have two other rentals apart from this property, And those have their own separate bank account at a different bank.. Because it is not part of my personal residence... I hope this simplifies it, or let me know if you do have any other question. Congratulations on your purchase!

I just posted on a similar topic seeking an investor friendly handy man in the south Snohomish county area... Will be interested to find out if there is any referrals out there!

I am a buy and hold investor in the south snohomish county area of Washington state... As I grow in my journey and assets as an investor, it's come time for me to stop doing the repairs and focus on running a business... And right now I have the need for a HANDY MAN who I can call when the need does arise... I will appreciate any recommendation from fellow investors.

It was very heavy on 401K and how to invest, it was merely to bring attention to people who do not really have any thoughts on investing or where to start....

Austin Shuster , I have always had to explain to other newbie investors like myself that, Never consider how much your financier makes on the deal, But how much YOU MAKE ON THE DEAL... And if you leverage your money and combine it with someone's money...You can actually go in on a larger deal...

Bryanna Pavlish I was in the same situation a couple of years back...had been working for lumber yard that paid me well enough but felt like I had hit a dead end and the monotony was almost unbearable... Well, it I found Brandon Turner and his podcast school on bigger podcast... And I call it a school because I dedicated four hours a day on learning from the BP podcast (even replays)... Last year I bought two very cash flow positive properties in the Snohomish county market, And I plan on using the BRRR METHOD to obtain 2properties a year... You are at the right place Bryanna Pavlish , Brandon Turner and Joshua Dorkin are a blessing unto us dreamers...

Jack B. I own a couple of properties in the greater Seattle area too, including an MIL in a class B+ neighborhood... I absolutely do not accept any evictions, and the renter has to make 3x the rent for me to be comfortable... It's your property, take charge politely!