All Forum Posts by: Sanjay Patel

How many loans were you thinking? If it is under 5, I would consider just tracking them in smartsheets. You get a mobile app so you can find info on the go, and attach documents to rows. Reports may be a bit of a challenge but still doable. Also inexpensive.

landlord123.com is decent

love this post. yes index investing over large chunks of time (ie 20 plus yrs) will beat most real estate investing esp. when you factor in your time spent. However over the shorter term, how can you invest in a stock market that is clearly overvalued and getting close to a top, imho. That's where RE comes in. RE can provide diversification benefits, when you find undervalued properties to flip, rent or loan on. each person is different but I could see doing a 30 to 40 % of your portfolio in RE and the rest in low cost index funds is an excellent strategy.

I own a small business and we have been renting space in various buildings for over 20 years.  I also have exp. with residential real estate a bit. While I think it would be great to own a building, I would definitely look at the potential growth of commercial space demand in your area before committing to buying.  For example, my building and the one next door is about 40-50% vacant, because demand is soft... EVEN in a city which is strong economically (I dont understand it.).

After doing your DD, if you determine that there will be demand, I would go with the buy option... It's nice to pay yourself rather than paying your landlord. Commercial is an entirely different animal than residential and you really have to know your stuff.

For me it comes down to - do I want to be a commercial landlord or do I want to put that time into running my business. Everyone has a different plan.

I use 123landlord.com and have been pretty happy w it. I use it more for operations as opposed to financials... Good luck!

Can someone recommend a bank or portfolio lender that will refinance rental properties in MD. Not looking for hard money / private lending, but rather competitive standard rates  with competitive fees with my strong credit and track record. I took a look at b2r finance but am wary after reading reviews.... thank you for your help. 

I reccommend Xero.com - relatively simple to use once you learn their lingo. QB will lock you in forever and if you get the desktop version, it is subscription based (force you to upgrade every 2 years or so to keep the features) so you might as well go cloud for basic busineses, imho.

If you want to spend a lot of time, $ and effort without a lot of bang for your dollar, go with Salesforce. otherwise there are a lot of good products out there (some mentioned above). i really like Insightly - because it is easy to use, lots of great simple reports and followup features, and you can link different people to to each other so you know who knows who...  also free for the first 2k contacts doesnt hurt. I think the real question should be what is the best CRM specifically for the real estate market (e.g. rentals, lending, etc.) - and that one I am still waiting for someone to come up with on.

thank you everyone! I have an attorney but he says there isnt much that can be done when bankruptcy is filed.

The scenario is the following:

as a private lender, I have a 1st lien on a property (in washington dc) to a borrower who is an LLC - and unable to make payments. I am going thru the non-judicial foreclosure process to recover the property. The LLC filed for bankruptcy and the owner is blocking recovery of the property. Is there any recourse to reduce the risk for this type of scenario in the future - i.e. thru other protections (e.g. personal guarantees, cross collateralization, etc.) Thank you in advance for your replies.