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All Forum Posts by: William J Anderson

William J Anderson has started 3 posts and replied 22 times.

Post: Introduction and Seeking Advice on T-12s

William J Anderson
Posted
  • Portsmouth, Va
  • Posts 22
  • Votes 19
Quote from @Drew Sygit:

@William J Anderson you want assistance in analyzing T-12s for the purpose of purchasing a property?

If so, as @Brandon Weis mentioned, they come in all "shapes & sizes".

You'll get more assistance if you post an example here and ask more specific questions about it:)

Thank you, Drew, for your thoughtful response! To clarify, my focus isn’t on analyzing T-12s for purchasing a property but rather on developing a solid T-12 for managing my property effectively and for use when I eventually sell my investment property in the future.


I want to ensure the T-12 I create is both accurate and straightforward, serving as a reliable tool for tracking performance over time and presenting the property’s financials to potential buyers down the road.


If you have any advice on key elements to include or how to structure it for these purposes, I’d greatly appreciate your insights. Thank you again for pointing me in the right direction—I’m looking forward to learning from this process!



Post: Introduction and Seeking Advice on T-12s

William J Anderson
Posted
  • Portsmouth, Va
  • Posts 22
  • Votes 19
Quote from @Brandon Weis:

How your T12 will look will come down to your accounting software and how it has it formatted. I would spend some time working on the formatting to make it as simple as possible to understand for a banker or buyer. It should clearly state the operating income, operating expenses, and net operating income. Do not make the mistake of including non-operating expenses in your NOI. It is incorrect, but it will also lower your value!

We use Yardi for our accounting, which leaves much to be desired at times, but we have spent a lot of time working on our financials to get them to look the way we want. A T12 will be an income statement/P&L from any software you pull it from.

Thank you so much for sharing your insights, Brandon! I really appreciate the emphasis on simplicity and clarity—especially the advice about keeping non-operating expenses separate from NOI. That's a great reminder of how even small details can significantly impact the way a property's value is perceived.

I’ll definitely keep this in mind as I work on formatting my T-12s and ensure they’re straightforward and professional. It’s also helpful to know that a T-12 is essentially an income statement or P&L, which gives me a clearer sense of how to approach it.

Your feedback on Yardi is interesting too—it’s good to hear that while it has its limitations, with some effort, you’ve been able to tailor the reports to suit your needs. I’m curious, have you found any specific tweaks or adjustments in Yardi that have been especially useful for presenting your T-12s to bankers or buyers?

Thanks again for the detailed response—it’s incredibly helpful!



Post: Introduction and Seeking Advice on T-12s

William J Anderson
Posted
  • Portsmouth, Va
  • Posts 22
  • Votes 19

Hi Everyone,

I’m new to the BiggerPockets community and excited to connect with all of you! A little about me: I’m a new real estate investor diving into the world of property management and eager to learn as much as I can. I’ve already realized how much there is to know, and I’m grateful for spaces like this where experienced investors share their wisdom.

Right now, I’m working on getting a better understanding of T-12s (Trailing Twelve-Month Financial Statements). I know they’re an essential tool for analyzing a property’s financial performance, but I want to ensure I’m approaching them correctly.

Could anyone share examples of what a good T-12 looks like or highlight key items I should make sure are always included? Are there any specific tips or insights you’ve found helpful when reviewing or creating a T-12?

I’m here to learn and grow, so any advice or resources you’re willing to share would be incredibly appreciated. Thank you in advance for your time and for welcoming me into this community!

Looking forward to connecting and learning from all of you.

Best regards,

Post: Expensive lesson by leaving one clause out of rental agreement

William J Anderson
Posted
  • Portsmouth, Va
  • Posts 22
  • Votes 19

@StephanieMenard, thank you for sharing your experience and for being so open about what happened. I’m so sorry you had to go through this—what a difficult and frustrating situation. As a new investor, your story is a powerful reminder of how important it is for me to be meticulous in protecting my investments. I’ll certainly take this as a lesson to leave no detail overlooked and to approach every aspect of my agreements with care. Your insight has been invaluable, and I truly appreciate it.

Post: Rookie Realestate Investor learning the craft

William J Anderson
Posted
  • Portsmouth, Va
  • Posts 22
  • Votes 19

Hi Noah,

Thank you for your kind words about our mission at GenAlpha3 LLC! We truly believe in fostering community and providing affordable housing while maintaining a high standard of ethical management and resident well-being.

We are definitely looking into growth opportunities for our properties here in Norfolk, but we're taking a careful and steady approach to ensure we can continue delivering quality for our residents. A DSCR loan is an intriguing option, and when the time is right, I'd be happy to reach out and explore how it might align with our goals.

I appreciate your offer to chat and exchange ideas—it’s always great to connect with others who share a similar vision. I'll keep your contact handy for when we’re ready to take the next step!

Warm regards,
William Anderson
GenAlpha3 LLC

Thank you Noah. WE are certainly 

Post: Rookie Realestate Investor learning the craft

William J Anderson
Posted
  • Portsmouth, Va
  • Posts 22
  • Votes 19

At GenAlpha3 LLC, our mission is to provide quality, affordable housing through ethical management, ensuring safety, comfort, and fairness for all residents. We aim to create a harmonious living environment by adhering to all relevant laws and fostering a community based on respect, transparency, and continuous improvement.

Post: One Down More to go

William J Anderson
Posted
  • Portsmouth, Va
  • Posts 22
  • Votes 19
Quote from @Jacob Sloop:

Congrats William !


 Thanks Jacob 

Post: One Down More to go

William J Anderson
Posted
  • Portsmouth, Va
  • Posts 22
  • Votes 19
Quote from @Alfonso Partida:

Hi William, congratulations! It's great to see investors like you take the leap of faith and have such a successful outcome. Looking forward to seeing more of your recent closings!


 Thank you so much Alphonso much appreciated. 

Post: One Down More to go

William J Anderson
Posted
  • Portsmouth, Va
  • Posts 22
  • Votes 19
Quote from @Dina Nicasio:

Congratulations, William! Impressive work. Keep it up!


 Thank you much appreciated

Post: One Down More to go

William J Anderson
Posted
  • Portsmouth, Va
  • Posts 22
  • Votes 19
Quote from @Gino Barbaro:

@William J Anderson

What are rents for the units? Looks like a nice deal, unit mix, vintage, locaton

Congrats

Gino


 The Rents are well below Market value at the moment. However, We plan to rehab each unit and market accordingly as tenants leave. In the area 1300.00 for a two-bedroom is the Median rent.