All Forum Posts by: Paul Jones

Can anyone recommend inexpensive (or free) accounting software to track expenses & create P&Ls for my rental property. Normally I have each rental under a separate LLC (with separate bank accounts) and would like to have the financial statements for each LLC. The objective is to sell equity in various LLCs to investors after the property is fixed up and I have a decent rent roll. I really like quickbooks online but $15 per month is costly as each subscription would be for a single property.

Pls let me know if you have any recommendations...

thx!

Hello Donna.  Welcome to BP.  I have experience in southfield.  What are you looking to do?  flip? hold? 

Southfield is made up of various communities consisting of different school districts.  Its a very exciting place to invest.  Let me know if i can assist...

look in your backyard... southfield has some great opportunities in niche neighborhoods!

welcome and let me know if want to exchange more ideas on sfld

Hello Marina,  the inspection fee is $340 or $350 I believe and they are pretty quick about doing the inspection.  You can expect a wait time of less than a week; however the wait time may vary slightly during the holiday season.  I believe the inspectors concentrate on general safety and code (smoke detectors, hand railings, etc).  

$1,100 sound about right however EAST of greenfield puts you in Berkly not southfield. In any case thats an nice area because it gives you access to berkley.   Check the school district; berkley school district will demand higher rent than southfield...

hope that helps

Thanks for the reply Jessie. Very helpful!!

Dan, Thank you for sharing your story. I am a newbie looking for my first deal. Your story is very inspiring!

As I noted before I have been following the online auction sites held by Dade county. I see that many auctions are cancelled before the auction starts, does any one know why this is? Also, I see properties that are scheduled for auction in the future (say next week). Is it possible to contact the entity that owns the site and try to purchase before that auction starts? As always any feedback is greatly appreciated. If there is any one who actively buys from the auctioning sites I would really appreciate the opportunity to chat with you.

Thx in advance!!!

Thank you all for the great feedback!

I am new to real estate and have been following the forclosure auction online for Dade county. First I wanted to confirm some terminology... is the plaintiff the bank that owns the property?

Also I noticed that the plaintiff maximum bid is often hidden, why do they do that? Lastly, the majority of the properties are ultimately bought by the plaintiffs. What happens after that? Does the bank maintain control of the properties? Is that a good time contact the banks to purchase the property? Should I consider the bidding activity in my offer to the bank in an unsuccessful auction?

Please advise, looking for some help from an expert...