All Forum Posts by: Bob Bates

Any recommendation for a good preferably open source rental management software that primarily handles back end accounting?  I've used Quickbooks for years but it isn't really tailored for rentals and has become very expensive.

I need to build more commercial broker relationships.  I've got a commercial broker who is in the process of retiring an a residential broker who has helped with a couple of commercial properties I found on the MLS.

I think you are dead on.  Of the properties I do see, margins are razor thin and a lot don't cash flow even based on a quick $5000 per month per million rule of thumb.  I'm guessing a lot miss that.  The other obstacle are the non-investor high wage earners looking for depreciation to offset their income who aren't overly concerned with the cash flow side of the equation.

I'm located in Salem, Oregon and am finding it difficult to locate multifamily properties particularly ones that cashflow. The MLS has only a few overpriced properties that roost for months. I've considered direct mail but my family property has been inundated with letters and cold calls which leaves me at a loss as to how to appear different than everone else.

Another question, should I be looking in other parts of the country with better value to rent ratios?  In this area the average multifamily is running $135k-$175k per door for rents of $1200/mo for a two bedroom.

It's definitely an issue.


It's good to meet a fellow pilot.  I haven't been active for a few years but that was the first trip through college.  Commercial Single/Multi Land, IFR, CFI, CFII, MEI, AGI, IGI, A&P

No luck on the warm market front.  Is it possible to borrow the equity from a third party and then chase down a lender for the majority of the loan?

I have a development property under contract for a tiny home park which operates like an RV park but my equity is currently tied up in two other projects and I'm finding it difficult to secure financing primarily because people are unfamiliar with tiny homes.  My thought is an equity partner but I'm still looking and time is running short.  I'm looking for additional ideas.

I'm looking at a property that can purchased for a great price due to costs associated with bringing in city services that can be developed into an 80 space mobile park.  After doing some research the cost of adding city services can be eliminated with STC credits that can be collected when the spaces are filled.  This cost along with the site development costs will be financed.  The difficulty comes in the fact that the mobile manufacturers have an approximate backlog of 40 weeks.  What would be the best play on this considering the slow absorption?

Has anyone come up with a spreadsheet to show a potential seller the benefits of carrying a note rather than a cash out in terms of total value of the note and more importantly the tax savings?

That's pretty tame compared to some farm panels with 480 3 phase and a $100 budget to "fix" it