All Forum Posts by: Soh Tanaka

@Lily Chen "Best area" means different things for different people. I personally like NWI because of the availabilities of properties, cash flow, appreciation, and favorable laws. That said, I don't think I'm smart enough to predict the future, so I like to buy in different areas. 

I bought some off-market SFRs in Northwest Indiana. I was thinking like you, but they appreciated it quite a bit.

@Bethany Crawford If you check out youtube, there's a lot of videos there. 

My guess is you are using a lower price online plan. If you use the higher price online plan or desktop version, it should support multiple entities.

@CL Ziegler I don't know how small you are, but I use Buildium to manage other people's properties. It is web-based software.

If you subscribed to the right plan, you should be able to assign a class per unit. I would do that way so that you know what is going on per unit financially. So it'll go into one account but a separate class, if that makes sense. 

Using one turnkey company that works in different markets sounds like a good option, and it might be. While it's a bit more work, I prefer to work with different companies. One is to diversify, and another reason is to learn different perspectives. You don't know what you don't know. No 2 turnkey companies run the business the same way. 

That said, you should focus on finding the right turnkey company for you, regardless of how many markets they serve. More likely you'll buy a few properties in one market initially anyway.

@Brie Schmidt ...and before 2019. It feels like this comes back every year. 

@David Levin The best thing to do is to participate in politics and voice your opinion. It takes a minute to file a witness slip. 

I think Lodestar Tax & Consulting in IN does it.

@Jean-Paul E. Gagnon First of all, congratulation on your rapid growth! There are many youtube videos online where you can learn about QB. I think "Income Digs" and "The QuickBooks Dude" are pretty good. Regarding receipts, you just have to organize them or at least save them to your cloud. I try to have digital receipts as much as possible, so that I don't have to scan them. For example, if you buy things from Home Depot, you have an option to receive receipts by email. A lot of people talk about Stessa, but someone said it doesn't have a journal entry, and that is a deal killer to me. While I'm not an accountant, all the accountants who saw my QB are pretty happy, so if you have a specific question, I'll be happy to give you an unofficial answer.