All Forum Posts by: Mark B.

@Isaac Johnson  keep in mind that although the numbers (that ive seen at least) tend to favor real estate, its not "better" for everyone.  some people dont have the desire/capacity/drive/mindset to do real estate and stocks are 100% a better choice for them

Thank you everyone for the ideas!  I think since I'm still starting out and have the time, I'll keep adding the statements.  My current system allows me to match dollar for dollar my starting/ending balances with my PM.  I am working on a small website (mainly for myself atm) to convert owner statements from appfolio into csv and/or qbo files that can be easily imported.  I'll share it when im done if anyone is interested or would find it useful 

Good morning all - I've been using a property manager for 2 years now. They use appfolio, and on the 15th of the month, i get my owner payout as well as the owners statement (pdf). I go through the statement line by line adding transactions to quickbooks. My quickbooks then holds everything about the properties financials (no leases, marketing, etc).

I'm curious how other owners who use property managers manage their finances/accounting. Everytime i search for property owner accounting, I end up with 10 links to the best property management software sites. I dont think i need appfolio, or any of the other management software solutions because i am not managing it myself. I just like to track my own expenses so i can run my reports. 

Save 10k , buy a 90k duplex :D

I think if you start buying lotto tickets sometime next week, you should be able to raise 10k within a few months or so

Good morning all - Not sure if this is the right forum for this but I had to share.  

My PM found me a tenant for one of my garages on Monday.  I had a guy go in this morning to clean the garage next to the garage being discussed (last tenant left it a mess with all his trash in there).  He calls me (with one of my tenants standing next to him) and says that there are dogs in the other garage...  I immediately call my PM who is surprised as i was. She calls the garage tenant and the tenant says something along the lines of "well i put a space heater in there.... i didn't want to go to the garage alone, so I left my dogs there".  The PM pretty much says no.... and that shes out.  The tenant then says she'll move out, she'll come pick up the money she paid and get her dogs and leave... Are you kidding me?????  There is 0 chance shes getting any money back from me and I hope they send her to jail

My PM is now calling animal control (or the proper authorities) on this woman. 

Also - My tenant then tells me that she's been hearing dogs barking for a few days but just assumed it was the neighbors dogs.  

I guess the two lessons to be learned here are that there are f@#$ing TERRIBLE people out there, and to make sure your (or the PM's) inspection rounds include the garages.  I think I will start knocking on garages as I make my rounds from now on

Update as im writing this - Animal control and my PM made it to the garage before the tenant did. Hopefully these dogs find a better home (although even on the streets would be better than this woman)

Was going to mention water/sewer but that already was.  Not sure if you included trash in the number.  I believe trash is 375/year per door (not an issue with this sfh, but good to know either way)

@Mindy Jensen Thank you!

Would signing up for Plus now lock in the Pro pricing too? I don't quite need Pro yet, however Plus could be useful.  If I got plus today, would i be able to switch later on for 290 to pro? or would I lose my grandfather pricing at that point?

@Account Closed - i dont think anyone was attacking the poor or blaming them.  However, you do have to admit that there are people who have ample opportunity to better themselves and succeed but instead waste their time blaming the rich for their problems.  Not everyone of course! but there are plenty. I know this is the case for the majority of the people i interact with. These are the people i know with good/decent jobs who instead of saving money or investing, spend it all on things like bar tabs and vacations.  Then they complain that they couldnt succeed because they dont make enough to be able to save

Good evening all!

i was hoping to get some advice on a property im looking at.  Its a duplex with current rents of 1950 that should be able to be increased to closer to 2200-2400 with the correct upgrades.  The owner doesnt want to be a landlord anymore and is looking to sell, but he does still have a mortgage.  

I've read a bit about wraps, and subject to's, but I'm not sure if this fits in.  He would be open to a structure where he is able to keep a bit of cash flow coming in.  

Would anyone be able to give me some advice on what kind of structure I could use? (I'm about to buy the book on low and no money down but havent just yet).  Even just naming the type of deal would be greatly appreciated and i'll go research it!

Thank you !