All Forum Posts by: Ryan Mortti

Hello all!

I am currently rehabbing between 5-8 fix and flips at any given time. I feel there is a better software system to track costs and make it easier to do accounting. I have quickbooks but I feel there is a lot of unnecessary stuff so I wanted to know how most of you guys that are running multiple rehabs at one time, how are you collecting receipts, reconciling statements and tracking profit by project. Thanks in advance!

@Dave Foster

Dave thanks so much for the clarification. I am not too familiar with the tax side yet as I have not had to deal with taxes. The flips this year so far have been in my name so I will have to pay taxes coming soon. I purchased my second property 2 weeks after I closed on my first flip and it is on the market now. When does the 1031 come into play? Now or tax time? Also I have opened up a LLC and have heard getting s Corp status for the LLC can help some taxation as well. Thanks again for all !!

Ryan Mortti

hey Michael thanks for the awesome reply and I agree with your entire post. I have not sold my residence due to the fact I would like to stay put for life. 5 acres is a privacy level I can't give up. Also I agree with what your saying what about doing maybe 2 at a time I think 10 is too much but buying one every 30 days after I'm putting one on the market would increase volumes. Any early signs I can look for to slow down so I don't get stuck with multiple properties? If I did get stuck should I then rent those? Any best bets on rentals? I would like some kind of monthly cash flow. Thanks again

Good evening guys! So I wanted to share my story, first I have learned everything from this forum and want to thank this unique community for being so great! So I have been investing for 2 years and have mostly done house flipping. I purchased my residence and since flipped and have about 100k to invest. I've been doing houses around 50 and have made about 30k net on each on average. Due to me flipping full time and just starting my business I do not have a job per say, what is my best route to get financing for more deals and how can I start to implement multi unit rentals in my portfolio. I live in Wesley chapel Florida near Tampa and it is booming! Would love to learn about more deals and see how I can leverage my capital? Thanks for all!!

Ryan Mortti