All Forum Posts by: Tarcizio Goncalves

Hi everyone,

So I just purchased 2 properties and it is part of a portfolio loan. Its 2 properties in 1 single loan. I use Stessa only for the tracking feature (transactions). I have no need for the rent collection or tenant screening as this is a function my property manager does for me.

As I was inputting the properties, I noticed that Stessa does not support Portfolio loans (https://support.stessa.com/en/articles/2423581-mortgages-loa...)

This will become very difficult to keep track going forward. I wanted to reach out and ask what other alternatives to Stessa are out there. Maybe a free option like I have with Stessa now? Just looking for the automated transaction piece so that I don't have to go back to Excel.

Any advice would be extremely appreciated. Thank you

Hi everyone, 

So I just purchased 2 properties and it is part of a portfolio loan. Its 2 properties in 1 single loan. I use Stessa only for the tracking feature (transactions). I have no need for the rent collection or tenant screening as this is a function my property manager does for me. 

As I was inputting the properties, I noticed that Stessa does not support Portfolio loans (https://support.stessa.com/en/articles/2423581-mortgages-loa...)

This will become very difficult to keep track going forward. I wanted to reach out and ask what other alternatives to Stessa are out there. Maybe a free option like I have with Stessa now? Just looking for the automated transaction piece so that I don't have to go back to Excel. 

Any advice would be extremely appreciated. Thank you

What do you mean?

Hi everyone, 

I am selling a property that I own now for almost 6 years to 1031 into another property. 

The buyer had an inspection and has requested for some cap ex repairs (new roof and new sewer pipe).

I'm debating to just giving the buyer a discount or money back so that he can address these repairs after closing but I just thought if I did these repairs prior to closing, if that would benefit me tax wise.

If I put in a new roof and add a new sewer pipe to the property would that have any tax advantages even though I am selling the property in the same year?

Basically, just looking to see if there is any tax advantage in fixing these cap ex issues vs giving seller credit to fix after closing.

Thanks

 Thank you Nathan. Appreciate the context here. This is awesome

 Thank you Randy. Appreciate the reply here. 

This is awesome, thanks Allan

Hi everyone, 

I inherited a tenant when I purchased a property 6 years ago and this tenant moved out. Tenant has been there for over 20 years so the unit has a ton of updating that it needs so that the unit is brought back to life. 

The software I use to keep track of income/expense for this property has a category for renovations under capital expense. All the improvements I am doing is going under this category (new bathroom, new plumbling, new kitchen cabinets, new tile, new flooring, appliances, etc...)

I dont know how classify my labor expense. There is two guys who is doing this turnover for me. One is my bro in law and the other is a friend. Could their labor expense be classified under capital expense as well because they are doing work under a capital expense category or is this just labor expense? Thank you everyone

Thank you all :) 

Hi everyone my daughter just turned 8 years old and I wanted to start to introduce her to business books and wanted to know what options of books you all implemented with your kids that worked. I am not looking for a book with just text in it because that will not interest her. Any fun books out there that can teach young kids the concept of business ownership, real estate investing, and entrepreneurship? Is 8 years old too young to start going down this path? Thank you everyone