My partner and I are contemplating the idea of offering small, short term loan opportunities to investors in our network e.g. family, friends, colleagues to help build trust and a track record.

I track all of our expenses each month so I know what we need to live on.

I keep track using a spreadsheet what was where.

Fellow landlords, do you use Quickbooks for bookkeeping purposes or is there another quality program out there that let's you track, record, maintain income and expenses related to your rentals?

And if you know anyone in the town hall, building inspector, water dept etc, my phone is ringing and I'm getting E-mails, the hard part is tracking down the owner!!

With the type of profit I figured (about 20k annually) I just don't see the downfall other than the 'headache' that goes along with it.Thanks Jennifer,Thanks for your reply and question.Although I don't know the area you mentioned I have had experience with hundreds of deals in lower class areas (mostly SFH).It was difficult enough managing and collecting rents in these SFH and I couldn't even imagine what it would be like managing a multifamily in such an area.I have personally never owned such a property so I can't speak with full confidence but I can say that I have witnessed many similar complexes become revolving doors over and over again.Investors get attracted to the cashflow potential but end up loosing 6-12 months down the track.

Also, he has his CPA and being an accountant, in my opinion, is very valuable in this business as keeping track/managing costs and what have you is the difference between being profitable or in the negative. 2) He has been doing this for a long time, simply put: he knows how to renovate a property and then manage the property.Side Note:For those of you out there who are looking for properties in nicer areas I do know that Jay is planning to expand into these areas of Philadelphia.

You are definitely on the right track!

If you still have a copy of that I'd like to get my hands on it so I can try and track down where it may have came from. 

Do you have a good track record of performance?