All Forum Posts by: John Vietmeyer

I use Stessa to self manage 8 properties. Plenty of reports and they essentially pay me with 4+% interest on associate accounts. Free option available too.    

I hatted book keeping until I started using Stessa.  All expenses get imported automatically and I tag what it does not automatically categorize for me.  Takes a few min a week managing 8 rentals. 

Without a PM you can afford to pay top dollar for service professionals as needed.  Electrician, plumber, etc.  appliances are usually easier to replace.  Have contractors coordinate directly with tenant on repairs and do a few trips a year to catch all the loose ends.  

thanks for helping justify my decision to stay with Stessa.  Stessa is not perfect but I like the capability, love the %5 interest rate on my associate account and have found the support honest and effective.  I use it for expense tracking (which is great) and have been transitioning to rent collection/cash management.  

I’ve always used my smart move for background checks.  Guess it does not make sense to have a prospective tenant run their credit/background when it’s included in their Zillow application?   Anyone ever been scamed? 

Smart not putting all your trust in the flood map, they can be wrong and do change. Pine trees are a good indication of buildable land.  Not sure much is safe in Charleston though.  Good to build on highland and raise if needed.  

I’m pleased with stessa for expense tracking and more recently rent collection.  Getting over 5% return when using their banking partner so working to transition all my properties over for rent collection.  

I don’t need help often but have had good luck with customer service when needed.  

I’m using stesssa and am very happy.  It seems they are continuing to refine their processes but I’ve found their support responsive and have not had any issues since it was set up when they first offered the service ~2 years ago.   They are currently swapping g partners for banking which may create some hassles but the interest rate is exceptional and promised to stay sane or better.  Think I’m getting over 5% recently.  I’m also stuck on their expense tracking functionality, which I’ve used for 4-5 years, so it only makes sense for me to collect revenue on the same platform.  

Yes, i established an opp zone partnership and purchased the property 2-3 years ago for ~$135k.  I then put ~135k into renovations and rented it out. I used capital gains from another property and some of my own funds to do the deal.  I don’t have any financing, and get ~$3k a month in rent.

I know it's not big money for a segregation study but I could add another ADU and sell without capital gains in -8 years

I have a duplex held in an opportunity zone partnership established by my wife and I. While there is potential to add an ADU, we already hit the improvement thresholds and was going to ride out the 10 year period then decide what is next.

Questions:

1) should I be leaning forward and using bonus depreciation knowing the gain will be cleared at the end of 10 years?   can the loss on this opportunity zone partnership help my wife and I with other tax burdens? We do qualify for active/ real-estate professional.  

2) we own the property in cash now.  Would we jeopardize anything getting a mortgage and extracting capital to invest elsewhere?  

Appreciate your help, I don’t have confidence my CPA can operate at this level.  Perhaps my biggest issue :)