All Forum Posts by: Ray Chambers

@Brett Aguiar

Understand taxes and the management of your money.

The BiggerPockets textbook is a good start.

Learn you legal rights as a landlord and the rights of the tenant. Keep a nice amount of money ready for repairs caused by "Murphy's law"..

Be a good landlord, and take good care of your tenants.

@Sinil Kim

You can do that.

@Lindsey Spivey

Emerson once wrote, "If a person should offer to do me good at no cost, I should run in fear for my life." (Roughly quoted as memory fails to recall the exact quote, but you get the point)

While the honesty may be genuine, I would still make sure I keep my eyes wide open and myself protected.

Reading this not knowing the full story, I would be a little bit in (hummm.... why are you so friendly) mode...

While there is no harm in a simple cutting grass initially, it can turn into a legal issue...

Whatever your choice...

Just be careful.

@Daniel Gibbons

Why do think there is some correction coming?

@Michael Plaks

This was a very good suggestion.

I actually went with the accounting version.(I have more than one company)

While a big learning curve, this looks to be exactly what I was looking for.

@Michael Plaks

I can handle the 60..

And Thanks.

I have started an LLC, bought 1 property, and converted my house into a rental.

I have a w2 income job as well.

I am looking for Tax software to help me manage my finances and plan.

I bought quicken, but that doesn't do 1099s from what I can tell, nor does it do a slew of other things like quickbooks which, as I understand, is the superior product.

I don't know the difference between desktop, premier, and online...

I was curious what people here use and why.

Figure this would help a great given my lack of knowledge on all the different stuff available.

With my limited knowledge, I am feeling a bit overwhelmed by the ocean of choices.

Thanks in advanced for any help/suggestions anyone offers.

@Joe Brisindi

Laying hardwood floors is pretty straightforward.

One of the people above suggested makingsire the floor is level.

That is great advice, but your question may be,

How do I find out if it isn't, and how do I fix it if it is?

Home Depot and Lowes sell "self leveling" concrete. I highly suggest it to level your floor if required.

Another great suggestion was Google search.

I can add...

Lowes and Home Depot also have clinics that show you how to lay flooring. If clinics are not scheduled, asking the folks in the flooring department is also a great way to learn.

@Elliott Stern

Fear is what keeps you alive...

Logic and practicality is what makes you brave.

sample:

someone says....

There is a ghost over there...

myself...

Having not known anyone who has seen one, and having not seen myself...

I go look..... even though I am a little worried I am wrong and the booger is gonna eat me

:)

You will make mistakes... Don’t worry or be afraid... it WILL happen..

learn from the mistakes of others (read and study).

try to understand how to avoid making the same mistakes...

history is a wonderful teacher for the wise...

Its lesson was taught once... and some are smart enough to know that...

Stupidity happens when we need another lesson on the same topic.

:)

@Heidi Kenefick

I would do as someone above mentioned.

I would total all projected cost and add a buffer...

Subtract that from the old offer and resend it.

I would do this if my numbers worked...

you sound like you found something with huge potential that satisfies 1 hugely important requirement I have...

Location,location, location... and sellers who want to run away. That kind of motivation is awesome.

You can buy perfection, or take the risk... both come at some cost always...

Just be very smart about it.

One mans trash is another’s treasure...

If you did move forward,

I wouldn’t “live” in it because of tax reasons...

I would also have my plan WITH numbers and a inflated budget, just in case....