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All Forum Posts by: Pran Bhavsar

Pran Bhavsar has started 6 posts and replied 10 times.

Post: Short term rental management needed in Berwick, La

Pran BhavsarPosted
  • Rental Property Investor
  • San Diego, CA
  • Posts 10
  • Votes 0

Secured a great property and I need a manager to handle short term rentals in that market. Please reach out if you have any recommendations.

Post: Heloc on investment properties

Pran BhavsarPosted
  • Rental Property Investor
  • San Diego, CA
  • Posts 10
  • Votes 0

Looking for a Heloc product on a couple of my investment properties.

Any suggestions on banks or lenders that provide it?

Post: Property manager in Morgan City, LA

Pran BhavsarPosted
  • Rental Property Investor
  • San Diego, CA
  • Posts 10
  • Votes 0

Hello Bigger Pockets Community!

Looking at properties in Morgan city and Berwick Louisiana areas. Would like to link up with a property managers so I can make the best decision possible.

Looking forward to hearing any of your suggestions.

Thanks

Post: Seeking a great property manager

Pran BhavsarPosted
  • Rental Property Investor
  • San Diego, CA
  • Posts 10
  • Votes 0

Trying to help my mom who owns a place in Riverside California. Looking for a great property manager. Looking forward to hearing from you all. 

Thanks

Post: Software suggestion for managed Rental Property

Pran BhavsarPosted
  • Rental Property Investor
  • San Diego, CA
  • Posts 10
  • Votes 0
Quote from @Joe Martella:

I currently manage 4 SFH rentals in addition to having a very demanding full time job. There are many free resources out there for smaller investors. I am going to list them:

  • TurboTenant
    • It is completely free to advertise your rental, screen your tenants.
    • You upload your pictures, write a description and it posts to 20+ websites for free
    • Takes about 24-48 hours for leads to come in.
    • Once you select a tenant, they pay for the background check, upload documents (paystubs, ID, W2) and it is all set to you.
    • It even helps you build a lease after you select a tenant (there is a $30+ fee for the lease)
    • My referral code .disclosure. I do not get any money from TurboTenant, nor am I an owner or investor in the company.
    • They have a referral program where they will send me a $25 home depot gift card for a referral - you don't have to use the referral code
  • Stessa
    • Stessa is a website that I use to track all my expenses.
    • It is another free site and you can pull reports
    • You even can upload receipts.
    • Roofstock recently purchased Stessa
    • Completely free
  • Zillow Rental Manager
    • I use this to collect rent.
    • Free for the landlord
    • Tenant only pays a fee if they use a credit card to pay rent. ACH is free
    • Takes about 5-7 days for the funds to hit your bank account
  • Excel
    • I use an excel spreadsheet to track my check register. You can download a free template online

Other free websites I haven't used.

  • Avail.co
    • This is another free website that I learned about this week listening to a podcast (may have been a BP podcast). I haven't used it and cannot speak to it.
  • Zibo.com
    • This is another free website where you can collect rent electronically and have an interest checking account.
    • I am still looking at this, because not all my tenants pay electronically. 2 like to mail checks. I haven't looked at how to deposit those - I don't like mobile deposits.

There are many free resources to use before you start paying for services. Out of my 4 rentals, I have placed 2 tenants with TurboTenant - one tenant is on year 3 and the other tenant is on year 2. I listed the properties, took some pictures (they weren't the greatest pictures) and had it rented in a week. I was able to recycle the leases upon renewal and didn't pay any commissions for the rental, which is a savings of over $4,000 if you consider the rental commission to be 1 month rent. I highly recommend it.

Here are some threads you may want to take a read of:

https://www.biggerpockets.com/...

https://www.biggerpockets.com/...

Joe thank you very much. Very insightful. I am trying out Stessa right now. 

Post: Software suggestion for managed Rental Property

Pran BhavsarPosted
  • Rental Property Investor
  • San Diego, CA
  • Posts 10
  • Votes 0

I have 5 rental properties and 1 Airbnb. All properties are managed by a PM and I am looking for software that can do some specific things.

I am very open to any kind of solution. I currently am using spreadsheets and it is getting difficult to manage and while refinancing properties I noticed I take a lot of time to gather my mortgage statements. Wish there was a simpler solution.

I would like to address these features

  • Take pictures of expenses
  • Manage expenses
  • Break down cash flow for each property
  • My PMs statement are directly imported
  • Can break out the expenses and revenue for each property from the PM Statement and keeping a running list.
  • Import my bank account info
  • Import my credit card info
  • Import mortgage statements
  • Import insurance stmt
  • Import personal w2
  • Import my completed taxes

Post: Would you install Solar? Any tips?

Pran BhavsarPosted
  • Rental Property Investor
  • San Diego, CA
  • Posts 10
  • Votes 0

@Rafael Ro

Well I rented my house out and I believe solar was an attraction to the Tennant. We did price high to see what the market would bring and I don’t think they came for the solar but it attracted these great tenants. Great income and 800+ credit score!!!!

So my take is that people will not pay an extra fee but build it in the price and see if there are takers.

Post: Recomendations for Property managers

Pran BhavsarPosted
  • Rental Property Investor
  • San Diego, CA
  • Posts 10
  • Votes 0

I have a property in north county San Diego. Any recommendations for a PM?

Post: Would you install Solar? Any tips?

Pran BhavsarPosted
  • Rental Property Investor
  • San Diego, CA
  • Posts 10
  • Votes 0

@Rafael Ro

I say keep it in your portfolio and rent it out when you are ready.

I am in a similar situation near Oceanside. My rational is that the depreciation would be totally worth holding on to this property and see if I can increase rent in the next five years to create some really healthy cash flow.

I feel blessed to be in this situation so I may as well see how my strategy works out.

I am going to have a conversation with my new property manager soon about the effects of solar on rental income or the type of tenant it can bring in. I will let you know what he says and how I execute.

I’m glad you asked the question tho, it is an interesting concept.

I have this wild idea to put solar on one of my other properties if this pans out. I wonder if there is a way to send the energy produced straight to the electric company and keep the profit (if it is worth it)

Post: Software, Software, Software

Pran BhavsarPosted
  • Rental Property Investor
  • San Diego, CA
  • Posts 10
  • Votes 0

Good day folks. I am new to bigger pockets and a novice to investment properties.

I am looking for software to manage my properties that are under property management.

I would just like a place where all my rents come in, expenses tracked, and leases are stored. It would be great if it can also communicate with my property managers across the country.

I have a total of 3 properties spread out across the country (looking for a new 4th) and they are all. managed.

Is there something like this out there?

Look forward to your advice.