All Forum Posts by: Zachery Hitchcox

 Sounds like you have a wealth of knowledge, I PM'd you!

After 5 properties, I'm about to jump into direct to seller marketing and trying to pick up deal flow that way. Theres a ton of softwares out there for lead generation, but it seems the 2 big boys is Propstream and Dealmachine. However, recently sat through some videos of Dr. Deal Junkie that Jamil puts out or sponsors. Seems good but anyone that actually has functional experience getting deals have some feedback with it? 

Thank you!

I would also say that there is a gap in the software world for the small investors with less than 10 rentals that has Quickbook like accounting and a focus on REI. The only software that I've tested and still use is Stessa. It has worked well to track our expenses throughout the various projects and maintenance of the properties.

Recently, Stessa added a "Projects" feature to the PRO version of Stessa (like $20 a month or something). This allows you to assign costs to certain projects so you can keep track of spend on identified projects like "Turnover renovation" or "Flip Renovation", etc. It honestly needs work, but its been working good enough without going all in on something like QBO and other software that is a time and learning commitment. Stessa gets the job done and produces Schedule E for my CPA. It also provides a dashboard for me and partner to see transactions and details, so it works out for us. 

Just as some others have said, I suggest Stessa as a person starting out. I have about 5 rentals now with a partnership in an LLC. I just created another "Portfolio" in Stessa and associated costs directly toward the portfoli. This allows me to keep money streams separate and tidey. With Stessa PRO, it can do Schedule E and a number of other very useful reports. I would say that it has its wierdness, don't get me wrong, but with enough playing with it, its very useful for a low cost. You got to play with the transactions, but what I do like is that it doesn't let me create categories. I say this because I like it standardized and aligned with what my CPA is looking for. Its not super fancy, but it gets the job done.

Perhaps one day I'll need to migrate over to QB, but not until the time invested is worth the return. Right now with a small portfolio, I don't see the need for QB, but I'm sure there will become a turning point as now I just closed on the first BRRRR with my LLC.

 Not at this moment, I just have it under contract so its not closed yet. If I can't find a good MTR PMC i'll just have to go LTR. But I do got some good LTR folks i know

Hey! I got a house under contract in east Evansville near Newburgh and my family has been there for a long time. I'm out of state investing though but I'm excited to get started in this market. Looking for a medium term rental operator at the moment though to manage this rental. 

Hi! I'm just breaking into the Evansville market and currently have a property undercontract on the east side. My family has deep roots in the city so I decided to give it a shot there from a Medium Term Rental perspective. Would love to connect with anyone out here doing the same!

Good luck @Johnathon Thompson ! I am in contract with a property in Evansville and I'm currently searching for a MTR PMC. I'll let you know if I come across any that are good. 

 @Chris Mignone would love to connect as I'm looking to shift into the Evansville market. My family has deep roots there and looking for MTR opportunities out in Newburgh area. Would love to chat with you as well as anyone else in that market. Thank you!