All Forum Posts by: Megan King

@Account Closed it was $5,639 as of 3/31/2021

I'm a part of a few women investor meet ups in DFW I can introduce you to when you move! 

I have partnered via private lending. In Texas, you need a promissory note and Deed of Trust if you are giving a first lien position, which I definitely encourage you to give, to your investor. I have had these documents drawn up by the attorney at the title company where closing takes place. All of the document fees are passed to the borrower via their Closing Disclosure. In my private lending deals, I get monthly interest paid. The interest is high and I charge points of 2.5%. I am very happy with the returns. If you want to keep your investor happy, it's easy, they will be happy with the high interest and fees! Just be trustworthy, pay on time, that's what keeps your investor doing deals with you! 

@Yitzchok Carmen Hi, I have the Plus version which includes "class" tracking. This is important if you'd like to easily run report by location. The lower versions do not have this. I pay annually, the last time I paid was in January 2020 which was $793 for the Plus version. Well worth it to me! 

Justin, Just to clarify my QuickBooks reply is the same as Daniel Hyman's QBO reply, I use QuickBooks Online... Regarding your multiple properties question, there is a "locations" tracker in QBO where you can track different addresses so you can have them all in one QBO file. This does cost more than the basic version. Personally, I have several rentals so I use the "location" and "class" trackers. My real estate agent business is class "Schedule C" and my rentals are class "Schedule E". Then, my schedule E is further broken down by location. So, I can run p&l reports for each of my rentals by location or as a combined group by "schedule e". You can make the class tracker whatever applies to your business, but this is how I do mine, just to give an example. 

The web based QuickBooks is my recommendation. You can link your credit card and bank account. Classify transactions as they come in and can run reports (sounds like most of your transactions will be Building Improvements and added to the cost of house, not expensed). Although for just one property, QuickBooks may be too expensive. It’s great, though! 

I recommend @Tyler Hodgson

He is an investor as well and I have worked with him on several deals, as an agent, and highly recommend him! Always on top of things, very responsive and knows his stuff. 

That’s great and I hope to have a Sub 2 as well someday soon. Really like this strategy 

I have taken a few subject to classes but have not (yet) purchased one. In both classes, the instructors said as long as the mortgage keeps getting paid its very rare for them to call the due on sale clause. 

I’m pretty sure Kensington Vanguard Does these