
12 July 2024 | 5 replies
I've been in the real estate accounting field for almost 20 years, and in my experience, it's helpful to think of the software you use in two distinct levels:Property Management (PM) Software: This handles the property-level operations.Dedicated Accounting Software (like QuickBooks): This is used for corporate-level accounting.Not all PM platforms come with robust accounting modules.

12 July 2024 | 6 replies
Quote from @Scott Morris: It appears as if he runs one of those programs where they hook you on a low/free cost training and then hit you non-stop with "upgrades", and "higher levels of coaching".

13 July 2024 | 13 replies
David, do you have any sources that can speak to this level of investment?

16 July 2024 | 41 replies
If you want to email me directly, great.I can also discuss management fees but that is a very big topic because professional management companies can provide different levels of service (we are just rolling a new one out right now) so the management fee (and other fees) can be different even in the same company let alone compared to another management company.Let me know how I can help you further.

13 July 2024 | 6 replies
And that is good insight regarding the level of effort and ROI.

13 July 2024 | 7 replies
It has been interesting to see prices come down in places like Florida, Texas and Idaho and inventory in those places return to pre-pandemic levels.

12 July 2024 | 14 replies
An up to date tenant quality map would really help me make better decisions as I expand; I'm 100% remote from several states away.I plan on expanding my Akron and Canton holdings, but I might be convinced to start picking up properties in Cleveland too if the numbers work better with similar levels of managed risk.

12 July 2024 | 5 replies
Assess if you have enough time for tasks like tenant screening and maintenance.Expertise: Professional managers know landlord-tenant laws and property maintenance best practices.Cost vs. benefit: Weigh management fees against potential savings and efficiencies professionals might offer.Property location: Distance from your home to the property matters.Number of units: More properties increase management complexity.Stress tolerance: Consider your comfort level with tenant interactions and problem-solving.Long-term goals: Professional management can free you to focus on expanding your real estate portfolio.

13 July 2024 | 5 replies
FWIW, a CPA indicated single entity LLCs don't provide the same level of legal protection as multi-member LLCs provide.

12 July 2024 | 23 replies
When I say low risk I guess I am more trying to say I don't want to risk losing the house, at the end of the day I will evaluate the risk level of any options and make my decision based on comfort levels.