All Forum Posts by: Robert Cummings

@David Doyle

I just found out that my former tenant did not pay his water bill.  So the city has turned the water off.  I let them know he has moved out.  I have to pay that bill, with the water off (and it will be off till they get someone out to turn it on) should i shut down the water heater?  I don't think there is much water in the tank.

@Account Closed

 OK Grant, I will keep Buildium in mind.

@Michele FischerI have a friend that recommends the WA Landlord Association.  I have not joined yet as I have Cozy.com and the free forms I downloaded and edited.  

I think i have the tagging now.  For some reason it did not pop up immediately, I had to wait a few seconds to see the tags after typing @.

I think i will stick with Excel for the short term but keep in mind the other options you all presented.

 Thanks Loren, I'll do that.

Thanks @Mike Sumsky I will check out Buildium!

Hello @Larry Fried; I responded to your reply but am uncertain if I did it correctly.  Thanks for the articles @Brandon Turner.  Saw your podcast on what you would do differently.  The point that really hit me was you would NOT quit your job yet.  I was thinking to be fully committed you would need to throw as much time into this as a person possibly could.  You explained it well and helped me see how I could work full time in the industry.  

Thanks for the replies @Michele Fischer and @Al Williamson :  Michele are you in any RE groups and what are the duplexes valued at over in Longview?  Al are you moving from Shoeboxed because it isn't robust enough to keep detailed tracking of expenses per property or some other reason.  Now I hope i did this correctly so you all can see i appreciated your replies.

I read Keith Boley's short article "So you're new to this" and I really appreciated the useful ideas, things I did not think of or do when i started.  To me I am 'still' starting.  But what actually made me purchase my first property after years of talking about it?  It was a game called Cashflow.  Some friends invited my wife and I over for dinner.  After which they pulled out this game.  The premise is that you are in the rat race, just going around the board and accepting whatever life throws at you until you buy that first property or start that business.  Then you seem to be on a roller coaster but you are out of the rat race. There are high and low points but the game changes (at least mine) your thinking.  Shortly after I found and purchased my first duplex that provided cashflow.  So what was your catalyst to 'just do it'?  

I supposed you are an investor with more than 10 properties? When you first began what did you use? have you always used Quicken and property managers? I am not a sales person. I own property that I self manage. So my questions regard what worked when you were had a smaller footprint. I also want to know where other investors reached the cutoff from self managing to having some other entity manage the bills and expenses. I have friends that own 8 to 10 duplexes and SFR and they still self manage.

Thanks for the "welcome" Dimitrly and the replies from Al and Michele. I think Excel is great for me as I am operating at a tighter margin, at the moment.  

Is Quicken a free, or GNU, application?  I believe i had it once but left off using it about 12 years ago.  

Hello Loren

Here's a question: I did not check the outside rear electrical boxes when i purchased my duplex in Orting.  Both outside boxes (one each side) are not working but they have some power, I know because i have one of those special cords that light up when they are plugged into an outlet.  It lights somewhat but there must be a ground issue.  How should i go about testing and could these be off because the crawl space water pumps are off?

Thanks for letting me know.

Hello!  I have been a BP member for almost a month now and this is this the first time i have introduced myself although I do have one post.  I started as a owner occupied single duplex.  Now i own 2 duplexes.  I still live in one unit but since the entire mortgage is paid by the renter where i live (Orting) and I only pay the escrow and my utilities.  The other duplex cashflows about $300 per door.  I am a landlord, not really an investor yet and i realize that.  Here's a question to those landlords, beginning investors and investors out there.  What do you use to keep your books?  I currently use Excel.  Nice to meet you all!!

Robert