All Forum Posts by: Account Closed

Good question, checked around and don't see a date/edition anywhere. It says in the first few pages it was written for QB 2003-2005

Posting here since it's tax/accounting related - this isn't a review but figured I'd try to be helpful before getting to the reason of my post - I got the KISS Guide to Bookkeeping by John Hyre and have found it to be a good starting place for RE accounting/taxes. I learned accounting through free online sources a few years back and have been keeping other books since then, and the guide is useful as a confirmation of how to set up and maintain my books for RE, short and to the point. I couldn't find a ton about it online and searched for posts like this one before buying.

Now the reason for my post - I got a used copy a few months ago, before I had bought any property. Recently bought a couple of properties and went to read the guide, set up books etc. and found it has 3 main pages missing. If anyone happens to have a copy handy and is willing to scan the pages, I'd be happy to send you a cup of coffee!!

Funny - I did the same thing and was told "they don't keep track of that information". I'm out driving around for this info, have a fair sized list. Not sure how it will convert yet, but should be finding out soon.

@Michael K. Came across this while doing my own research, saw this is recent and that no one responded - I have not done it myself but have been looking at what others have paid - for flooring tiles in that amount, $4-6 dollars per sq/ft seems to be a consistent number quoted in various places around the country to remove and dispose, so a ballpark could be $5-7k. Just the possible ballpark I've found.

There are a lot of those in my area. It is likely someone looking for bird dogs - ie you go out and find property for them and receive commission if they close on the property - basically a commission-only sales job. The exaggerated marketing messaging meant to draw people in would be reason enough for me to ignore them. Or accidentally put them in the trash if I was walking by.

 https://www.biggerpockets.com/forums/52/topics/467183-mistake-lease-with-0-mo-can-i-get-my-tenant-to-pay?page=1#p2887095

Your call as you have spoken to her, know her history and demeanor etc. but my experience with people that have irrational beliefs to that level is that they don't have just one....I would guess that this won't be the only strange claim/complaint/demand you hear from that person.

@Andrew Michaud In addition to expenses possibly being under estimated (though you'd know better than me) I'd add that, while you may be willing to do/oversee all repairs yourself now and save big in that area, will you still in 5 years? 10 years etc? Will you be able to scale that if you end up getting x number of additional properties? The answer could be yes, again your call, but I'd say the same for property management expense - you are not factoring for it now, will that end up being an issue in 5-10 years? Just some things I'd be looking at as I'm in the same process now.

Let me share a little experience I had recently with shower tile - I removed some tile from a shower to replace a shower valve, thinking that new backerboard and tile could be set right back in and grouted, kind of like patching drywall - just remove the tile, then put it right back, grout etc, no problem right?! AFTER removing the tile I started looking at how to patch over the hole - spent some time looking through tile forums (frequented by people who do tile for a living) and found that once you break the waterproofing on a shower, there is no sure way to waterproof it again - you essentially would have to remove all tile and backer and start over from scratch. I am not an expert but this is what I was told by numerous people and read elsewhere - even called a couple local people to verify.

I don't have the money to redo the entire shower atm, so I actually went ahead and patched over the tile myself and it has not shown any signs of leaking yet for over 9 months (I have access to area behind the place I patched so I can see this - btw this is on my personal home) but again, it supposedly could start leaking at any time, and once water gets into the wall it will stay there. If it was me, I'd go with the encasing....lesson learned for me.

Just in case this isn't clear - if the contractor is saying he can simply remove the bottom row of tile, replace tub and then put a new bottom row back in, that is what I'm referring to - some people will do this, and it may work fine as a temporary fix (like mine has) but it will be much more prone to leaking. Assuming you have a shower with that tub I would just take out all tile and do the encasement, and not have to worry about a leak which could be much more expensive than the price difference.

I do video work professionally and came across something that not everyone may be aware of. I see a lot of new people asking about real estate guru programs and so forth - often, the gurus and people who jump in to back them up cite client testimonials as proof of their program's success.

Professional video costs money, but there are many places to get cheap (and low quality) video work. One of the cheap places is Fiverr, their pitch being that most services start at $5. Was on the site recently and found something interesting - they have an entire category dedicated to testimonials. Naturally this is not *supposed* to be full of people offering fake reviews, but of course it is. I saw a number of American sellers doing fake testimonials for anything from real estate, make money online, accident attorneys ("I was in a car wreck"), etc.

Fake testimonials are nothing new, but I wanted to point out that I could get TEN decent to high quality testimonials for my new "course" just by writing out the scripts and paying $50. How do the sellers make money? They can charge $5 because they get say 20 orders over the course of a week and then do them all at once, hence $100 for maybe an hour or so of work (they also try to upsell for various features etc.) If someone was willing to spend a bit more money, of course you could get even better testimonials/reviews.

Many of us probably disregard unverified testimonials anyways, but I personally had not realized how cheaply they could be obtained (from Americans) until I happened to see and figured I'd share. There are other sites that offer these services at similar prices. Be careful :)

edit: Forgot to add - often these reviews are justified as "someone left me that review on my site and I just wanted to have it converted into video form" ;)