Rich Weese
Finally!! An REO acquired
17 June 2011 | 35 replies
He had also done bookkeeping , const and mgmt.
Michael S.
5 Learnings From First 5 Rentals
6 February 2017 | 2 replies
Use portfolio to gain financial independence with cashflow.Keep process as hands-off as possible with property managers managing homes and a CPA and bookkeeper managing taxes.Consider apartment investing and fix & flips in the future.Here is what I am looking for with homes 5-10:Grow in my current markets with my current teams.Explore a couple of more markets (I'd like to get into Orlando).
Chris Wilkening
Expensive repair bill
21 April 2023 | 5 replies
My accountant recommended getting a bookkeeper at least to help a bit this year as I’m acquiring more properties.
Josue Vargas
Smart move? Would you withdraw from 401K to invest in RE?
3 March 2019 | 159 replies
One reason is that the bookkeeping can be a nightmare.
Rocky Verteramo
Rental Home Book Keeping Advice
22 January 2017 | 1 reply
It is relatively easy to use and as you scale, you will have no problem finding a cheap part-time bookkeeper who knows the program.With that being said, I advocate to my clients any approach that allows them to capture complete information in the manner that is most workable for them.
Vinson Lee
Is rent due date based on the start date of a lease?
19 February 2015 | 9 replies
Our bookkeeper was not impressed with us.
Ray Malave
RentRedi Software Program
8 June 2023 | 12 replies
I believe my tenants find it as a convenience, actually.I use many of the features that RentRedi provides, including: Unit listing services (can be free or paid), tenant screening, tenant background check (tenant paid), tenant payments and basic bookkeeping (but not maintenance and accounting).
Ken Klingler
LLC vs umbrella policy
5 July 2018 | 4 replies
If you have a 1 million dollar umbrella that is usually a bigger target for a lawyer go after than personal assets of under 1 million dollars.There are other things to think about as well.You can't get a convention mortgage with Fannie or Freddie under an LLCYou will have to transfer it into the llc name after purchasevery unlikely but could trigger the due on sale clause in a conventional mortgage on a single familyMake sure to have the liability, fire and title policies done correctly so you are covered after this moveAlso to make sure that you don't break the LLC protection you need to be very precise with your bookkeeping, and keeping up with the llc documentation.LLC also could up your expenses and complexity if you are doing separate ones for each propertyDon't let the LLC thing hold your back from purchasing your 1st rental property.
Account Closed
Why Most Single Family Property Managers Suck and What We Can Do About It
7 July 2022 | 53 replies
Which is what I personally did I had 350 of these I sold out last year actually a year ago to the day and my partner that took the portfolio decided to out source and it's been a challenge. and I see you have come to the same conclusion .I also own A class rentals in the same market and my bookkeeper manages them from our Oregon office no problem.
Scott Trench
Poll: Landlords - Were You Working Full-Time When you Started?
18 January 2017 | 72 replies
I also take accounting, book keeping and business theory courses whenever time allows.