All Forum Posts by: Travis Lewing

Hello Bigger Pockets!

I just closed on my first rental property and need to begin tracking expenses.  I only have the one duplex at the moment so it should be fairly simple at this point.  Any tips on an easy to use excel format to track this stuff?  Should i do a running tally on one sheet or break the sheets into months to track rent in and expenses out for the property?

Any help is welcome, and TIA.

@Scott Mac I am only going to jump them by about 50 or 65 bucks a month. This will still be below market value but with tenants in there I am not doing any rehab at the moment, just making sure the units are profitable.

@Karl B. I did the final walkthrough last night and everything was fixed that we asked for. I have the paperwork in for the lease assignments and the tenants have signed the estoppel paperwork.

Hi everyone!

I am closing on my first deal tomorrow (Thursday 3/5) and am wanting to get any tips I can to make this transition as smooth as possible. The duplex I am purchasing is already rented so I will need to get these tenants to sign my lease as soon as their lease with the current owner is up. One lease is up currently and the other at the end of April. I am going to be raising rents to make the comparable to the market and so that they are profitable with the reasoning for this being that I got the seller to fix some things for the tenants. Any advice or steps that I need to take care of will be appreciated. It's just all becoming real and I want to be ready.

Thanks.

Thanks for the responses guys. I had a realtor set me up with a MLS portal so it auto filters for me based on the criteria I set with her. So I have my leads setup. Now I need to get to work on analyzing these deals before I start pursuing. Any tips or pointers to analyzing deals accurately?

Hello Everyone!

My name is Travis and I am beginning this exhilarating and nerve racking new life path. I currently work full time and I am looking to begin doing buy and hold real estate investing to hopefully be able to leave my day job in the next 9-10 years. I am in Springfield Missouri and will be investing in this and the surrounding markets. Please reach out if you are local to the area and we can get together and talk shop. I am talking with a real estate agent and getting ideas of what is available in my market. I will most likely be doing conventional financing. I own my primary residence with some decent equity so I could also potentially HELOC my down payments. Please reach out and lets go through this journey together!

Travis