All Forum Posts by: Shaun R.

It looks like the self-employed (and cheapest) version has the features that I need? Anybody have any experience with this one?

I just got my first tenants in my first rental and I want to do a better job than I've been doing of keeping the books. I got online last night to get quickbooks, but I got so caught up in picking out which version to get that I ended up not getting any. Do you go with the desktop version? If you go online version do you get self-employed, simple start, essentials, or plus? Which versions do accounts prefer to be handed over at tax time? Which versions to investors prefer to use? What do I really need? On this particular property I need to account for the home purchase, repairs, and now rental income and security deposits. I also plan on doing fix and flips in the near future. Where do I even start?

Makes sense. Paperback it is then. I'm reading the book on flipping houses now, and looking forward to the one on estimating.

I'm trying to pick out an audio book on audible to use my free monthly credit on.  I've been wanting E Myth, but it only costs 12.95 to buy, and the one specific to real estate investing is 26.95.  I can get either with the credit, so I lean toward the real estate investing one to get more "value".  The reviews for the more expensive book don't seem to be as good as the original.  Which would you recommend? 

@J Scott - is there going to be a kindle version of the book available?

I'm thinking about getting quickbooks to track income and expenses for my rental and future flips. Is QB the way to go or is there a better option?

As I've mentioned multiple times on the forum, I'm working getting my first rental ready to rent.  I just started listing it online a few days ago.  I've got a few e-mails and a few calls, but nothing serious yet.  Today a lady called while I was at the house painting, and asked if she could come see it.  I explained that we are still working on getting it ready, but I'd be ok if they came to take a look.  

So, the situation is that two sisters live together.  Each has one kid and one dog.  They loved the house and were good with the price.  They said they had the money to move in right now and wanted to know what to do next.  I explained how to go on-line to fill out an application and told them about some of my minimum renter standards.  They seemed a little concerned that they might not quite make the 3 x's monthly rent, and they said they've had problems finding a place because one of the dogs is a German Shepard and apparently landlords are not ok with that.  

After talking to them for a little while I found myself wanting to help them out and maybe bend a rule or two.  I did throw it out there that I my partner has to approve any decisions made, so I have that to fall back on if I have to reject them.

I tend to want to believe people and help them out when I can.  Maybe I'm too soft to make it as a landlord.  Property management may be the way to go?

This house in particular is a slab foundation

I'm getting ready to put my house up for sale and I need to replace some of the flooring. I'm pulling out carpet and going with either wood look tile or laminate. The material cost for each is pretty similar, but I'm not sure about installation. Is it very much more expensive to go with tile over laminate?

I'm just wondering if there is a general rule of thumb for the amount of time that has to go by before you can cash out refinance a conventional mortgage. I just closed on a property about a month ago and after some improvements the house should appraise for more now than when we originally bought it. I talked to my partner about possibly cashing him out and moving into the property myself if we can get it refinanced at 80% LTV of what it should be worth now. I'm assuming that we will not be able to refinance after this short period of time?