All Forum Posts by: Mitchell Witkes

I will of course need to set up interest bearing accounts for security deposits. Recommendations for those are welcome as well!

Hi everyone,

I'm closing on my first multi-family property in a couple weeks (Christmas present to myself!). I'm looking for some advice from some of the real estate vets on here. Let me go into some of the details of my situation. Any advice is welcome and appreciated!

I need to set up a checking and savings account for the property. I want a checking account to handle the inflow of rent and outflow of PITI/maintenance. I want the savings account to hold capital for improvements to the property. The property needs significant repairs, but I have money in an investment account that I will be liquidating for this purpose. I think that setting up the banking for the property in this way will make it easier for a tax professional to save me money come tax season. Anyone in MA use a specific bank for these accounts? Do you recommend setting up banking this way? If not, how do you do it?

As I said, any advice is welcome and appreciated. Thank you all in advance!

@Mark Ainley @Brie Schmidt

Thank you so much for the advice! I'll pass along the info.

Hi all,

A friend of mine is having issues with their property management company in the south side area of Chicago and I offered to ask the forums here for advice. He currently only pays 6% which is pretty low, but he is discouraged by their performance. Does anyone have any recommendations for property management companies in Chicago? Which companies have given you quality service?

Thank you!

Thanks for the support, @Justin Dossey. That's the vibe I've been getting on the sidelines of BP. There definitely seems to be a market for a great property management company. I'd like to start by managing my own properties and learning from that end, then hopefully adding properties from other investors. And BP seems like the best way to network!

@Steve DellaPelle

Thanks for the warm welcome! I'd definitely be interested in discussing financing and house hacking. I'll send you a collegue request

Hey everyone!

My name is Mitchell Witkes, and I'm new to Bigger Pockets. I joined BP to network and learn from seasoned pros and beginners alike. The forums, blog, and podcast are all so informative and I'm excited to be a part of this community! 

I currently work for AvalonBay as a leasing consultant in Somerville, MA. Working in this industry has given me a passion for real estate and taught me about tenant management and screening. 

In the short-term, I want to get started in buy and hold investing with MFRs. I'm specifically looking in Worcester, Plymouth, and Bristol counties. Longer-term, I want to use my knowledge base in property management to begin my own property management company. I'm looking forward to making contacts and learning from everyone here. I'm specifically interested in meeting local investors in my area, so feel free to shoot me a message!

@Kyle Joseph Count me in!