All Forum Posts by: Pavlos Kasselouris

 Obviously the cost is too much to be able to afford a software like Yardi. The accounting nightmare refers mostly to the rehab projects rather than the rental managing.

The past days I'm researching ways to better systemize better my REI. So far since I have only 4 rentals the free version of RentecDirect works just fine, and if I decide to get the very affordable pro version I will be able to use more of their automated features. This will make my accounting pretty easy.

What I dont understand is why start using Quickbooks (with the added cost and the hassle of setting it up and learning it) in addition to the property management software when the software itself is capable to produce all necessary reports for your CPA and it provides you everything you need to run your PM business . In addition to that it cant be synchronized with Quickbooks, but again I dont understand the benefit...

Now as far as my fix and hold or sell there I do have an accounting nightmare and thats the reason I'm exploring QB...too many expenses in different categories plus the difference between improvement and repair that you need to have separated when you buy fix and hold...

Any hybrid investors out there that can help me with this??

 Thanks for the reply, are you using something else instead?

 Hi Elizabeth! I was researching about Buildium and read this thread. Are using the Core or Pro version? I have only 4 properties but I wanted a better accounting system, but at the same time to set good foundation for later...(think BIG they say!)

Currently I'm using the free version of rentecdirect, but I dont want to have this as I scale up.

Do you think I will be able to use only Buildium for my rehabs too? Or will I have to get Quickbooks?

I'm trying to avoid too many tools...and keep it simple with all in one software. 

 Good scouting (condition as much as you can see, neighborhood, etc ) and title search

 You are getting a property without proper inspection, so you have to consider the unknown factor, as well as legal issues, other liens, if its occupied, etc...

 I used to practise real estate at that area, I have all my contacts and know the market pretty well. So I feel more comfortable there. 

 It all depends how your state/county conducts auctions. I dont know at your state county but here everything is online. 

 There are so many auctions every day there's always something for everyone... 

 lol, yeah, since we decided to keep it as a rental we didnt change that piece of the garage door.

Definitely keep in touch and maybe meet in person. I dont know if I want to continue with this contractor, but I never burn bridges. Pm your contact info.