All Forum Posts by: Miguel Rubio

Hi Patrick, Welcome to BP. Seamed like you started out the right way, getting as much knowledge as possible. Have you decided in which type of investment to focus on? Also, the local Reias and meet ups are a great source of local connection. Good luck

@Jeff B. Thank you!

Hi, all,

Just bought a 6-unit rental and about to purchase a 9-unit rental, both under the same LLC.

Would like to set up QB 2014 and am looking for details such as Chart of Accounts, how to keep track of each property and their tenants. I'm using a 3rd party property management company for both. 

I saw mentioned landlordaccounting.com which has a sample company file, but it seems inactive.

Mylandlordsbookkeeper.com looks good, too, but seems to be for landlords who are managing their properties, so not me.

Any recommendation for a basic user of QB to get the set up correct would be very welcome.

Thanks so much in advance; this community is such a great resource.

Hi Christopher, Capital City REIA is free to attend, Also Traction Reia in Tyson has a small fee to get in. There are some other free meet ups around the area. All good places to connect with other investors. The most important thing is to get as much knowledge as possible. Good luck.

Hi Dan, One place that you or your friend can find good information about the best ways to use retirement money is mysolo401k.net. He needs to set up a self directed IRA (there are a few options). The one that I have is the check book control. He can just loan you the money or partner up with you in the deal. There are may rules to fallow. But is not that difficult. Good luck.

Phil, welcome to the site. I think your strategy is a good one and probably safer. As always , a good education and some mentoring can help you reach your goals faster. This sit is full of great knowledge. Also some of the local Reias are a good source of education and connections. There is one in Tyson Corner that meets every moth. Also Capital City Reia is a good one. Good luck and keep learning.

Hello fellow BP members , I will be closing soon on a couple of multifamily buildings in Hagerstown MD, and need to renovate some of the kitchens and baths, floors, paint, etc.

I was hopping to get a few recommendations for local contractors to do this. I will greatly appreciate it.

thanks    

The local REIA is always a good place to meet potential investors. We have one here in Tyson Corner.

Good luck 

Thank you everyone, 

Sims like I need to talk to a few commercial lenders. 

I will put a list of question together . @Upen Patel if you don't mind, I would like to call you next week . 

thanks 

Hello fellow BP members,

I am in the early process of developing a 24 apartment building. I bought the land, (it's already approved for 24 condominiums), there are some original plans that the architect is modifying and will be done in a couple of months. 

 I am planing to keep them as rentals, so I would like to get a construction/permanent loan. I was looking into the many different types: conventional, FHA, fannie/freddie etc. 

I briefly talked to a mortgage person today and we will have a formal conversation next week. He was suggesting an FHA loan since it has better rates and terms. The rules of the loan requires a qualified GC and union shop wages. I'm an HVAC contractor and have worked with a few GCs/developers that I am hoping to approach, but I'm not sure if they'd be considered 'qualified' by the FHA definition.

Would a conventional loan be better than an FHA loan due to the restrictions? Any insight would be welcome!