Roosevelt Archie
Starting a new life
2 September 2015 | 2 replies
I feel this would be a great opportunity for myself and family to sustain our financial future, and help to rebuild in many communities wherever needed.
Matthew Hicks
negligent accountant
3 September 2015 | 6 replies
All in all, it sounds like really bad customer service.
Troy Kerr
Rented too Low
4 September 2015 | 27 replies
I don't know if you took into account for maintenance, taxes, insurance and vacancy.Yes, you can raise the rents at every lease period. the question is if your market can sustain the higher rents.
Anthony Certonio
OEF Vet and RN from Georgia just starting out
11 November 2015 | 7 replies
Started learning about REI through my first company, but the leads weren't enough to sustain a decent income.
Peter Christiansen
Preselling a Flip
7 September 2015 | 7 replies
There are a lot of other threads on this topic...Generally speaking, the consensus is that you should get a very detailed scope of work for what the buyers want (and what you'll customize), collect a very large non-refundable deposit upfront to cover the cost of having to redo all their customizations should they back out (and also being compensated for the lost time), and then be prepared to have the buyer micro-manage you throughout the process and mess up your schedule with change-orders and last-minute issues.Personally, I think that unless you have a lot of experience in this business, trying to customize a house for an end-buyer is going to pose more headaches, risks and wasted time than it's worth.
Trevor Cross
advice on finding direct info on foreclosed home in Oregon
5 September 2015 | 5 replies
Just ask for their customer service department.
Chase Schmidt
Should I Sign "Exclusive Right to Represent Buyer Agreement"?
7 September 2015 | 22 replies
@Russell Brazil there is so much that you just wrote that I disagree with, that we'll have to just agree to disagree because as a customer I am looking to a realtor for their best judgement based on their experience to assist me with the best possible purchase taking in all the relevant considerations tied to the ever popular location, location, location mantra and financial criteria important to the client.
Seth Kitchka
New to Buildium, experienced PM software users come on in!
12 September 2015 | 20 replies
As for buildium - if you record the transactions correctly you will have an accurate Cash flow statement to look at - it will not take into account anything you have paid towards principal and subtract that from your noi provided you make the entries correctly and have the chart of accounts set up correctly.So the tricky part is recording the initial entries - I'd actually suggest if you plan on making the move "Officially" Jan 1 2016, start now and enter all transactions for 2015, and 2014 (if you can) into Buildium - it will make the flow go so much smoother and you can learn as you go, insuring you are setting up things correctly as you go along.To record a mortgage in place, just follow their tutorial - (customer service might even walk you through it as well)First you need to have the appropriate accounts set up on the "Chart of Accounts"You could do it any number of ways - one way I'm doing it is -- have a main account titled "Mortgage" under liabilities (long term liability)Then a sub account of Mortgage titled "US Bank Mortgage" "XYZ Bank Mortgage" -- or "Mortgage - US Bank" etc -- Then you will want an account for "Interest" under expenseThen under Assets you'll want an account titled Escrow - then if you want to further track things I'd suggest setting up a sub account titled "Escrow - US Bank" or "US Bank Escrow" or "XYZ Bank Escrow" etc (Escrow would be a current asset)After that you'll need your current mortgage statements -- to start the books you'll need to enter a general journal entry for Escrow, Interest, Principal (Mortgage)Once you have that you're off to the races and can enter the mortgage payment each month, however you'll need to know the breakdown of Principal, Interest, & Escrow - for example the entry in your bank account will look likePayee -- US Bank -- you'll enter the date etcThen below you'll have the breakdown of the total where you'll enter $400 Principal$300 Interest$150 Escrow-------------------------------At the bottom Buildium will automatically add up the totals to whatever your house payment is for the month -- in this case $850Hope this makes sense -- best thing is to just play around with it a bit and keep checking yourself on the entries and in the general ledger -- your mortgage payments have to be entered manually every month, however this takes little time if your mortgage company offers online account access and gives you the payment breakdown - can be done in a couple minutes.Get over the biggest hurdle which is setup and the rest will be SO much easier.
Edward Mitchell
Is wholesaling legal in Illinois? (Chicago Suburbs)
10 September 2015 | 7 replies
When I work with people on the "Real Estate Investing" process, I start by letting them all know one thing, "We may be starting as a wholesaler but wholesaling is not a sustainable business model".