All Forum Posts by: Jim Walters

@Kwun Ho. I use LandlordStudio. It’s cheap and easy to use. Plus it’s easy to add new units if you keep growing.

You can track all expenses and take pictures of your receipts that get stored on the cloud.

You can use it for single units, multi-units, or apartment complexes.

Organizing receipts and mileage information used to be challenging, not anymore. I buy something and the expense is in there before I get to the car.

Good luck!

@Carrie A. I use LandlordStudio. It’s cheap and it makes it easy to keep track of all your expenses including mileage. Plus you can take pictures of your receipts and they store them on the cloud.

Also when you get a new property, it’s easy to add it.

@Johnny Weekend

At the beginning of the year you can ask for an adjustment. They did adjust (lower) the value of a house I bought by $15000. However, even with the adjustment, the price they have it valued at, is still more than I paid for it.

I also own properties outside of Dayton in Piqua Ohio. It’s in Miami County. If you provide proper documentation, they will lower the value of the property to the price you paid for it, which has saved me lots of money.

@Khemraj Singh I looked at your post, hoping to find additional brokers in the Dayton Area.

However, a good one in Dayton is Dayton Capital.

There current minimums /programs have not worked for me yet, but the company is ran by top notch people.

@Ben To answer your most recent questIon, Buildium does have full general ledger accounting. On the fIrst questIon, a App I have used is Landlord Studio. It provides easy tracking of income and expenses. It does not have general ledger accountIng, but does have a free 30 day trial and it’s cost is much cheaper than Buildium.

@Neri Bermas. My bias opinion is Dayton Ohio. I do hear a lot about Cleveland, but my research shows the returns in Dayton are competitive and good areas to invest in are not as hard to find. Indiana is another market talked a lot about, but there is a lot of competition from other investors when good deals show up. Pittsburgh has good returns. It is one of those markets you need to choose your area carefully. There are also good deals to be found in the Suburbs of most of the areas mentioned.

@Frank Boet I would say it depends on the deal and not what the over market is doing. I was lucky enough to buy some great deals in 2012 and 2013. Now looking for deals, I remember those and a lot of properties seem pricey. But I am a serial looker of real estate I believe I found deals recently that would still be good deals if the housing market does go down. It’s like looking for a new TV now and thinking that for the best deals maybe you should wait till Black Friday. But you keep looking just in case you find a great deal that you believe would be similar or possibly better than what’s offered if you waited.

@Tom R. I can understand your frustration. I have experience in paint. Sometimes the color in the paint tinted might be lighter or darker, but it should pretty much match. Did they put a small amount on a paper or lid so you could compare it? In the future, I would recommend insisting on this and not checking out with any paint you are not happy with. Also, tips to getting a refund. 1st insist on talking to the store manager. If they are not responsive, ask for the district managers name and number or ask to have them call you. The higher you go up, the more likely they are going to refund your money, as they should, if for no other reason that is not worth having a person making 200k a year argue about a $15 refund.

@Ashley Bieniek Your welcome. And to answer a question you asked in your original post, yes the washer hookups not working should definitely been disclosed. I would say there is a less than one percent chance the seller did not know this if they rented out the property and zero percent chance if they lived there I would call your realtor and tell them of the situation and have him ask the seller about this. A lot of people immediately say I am calling a lawyer, but I would not suggest doing this, as it dIgs people Into a defensIve posItIon. I would be nice, but firm that your concerned it was not disclosed to you. See what happens. It may take a few days, maybe even longer, but you may get a call that the seller is willing to pay for it to be fixed or a portion of the cost to be fIxed. If you don’t get resolution that way and don’t believe whatever excuse you were given, you can consIder calling the broker the agent is wIth. If that does not help, then you may think about using social media to pressure your agent. But save this as a last resort. Also, Jay mentioned when you had an inspection, they missed a lot of stuff. I thought maybe you didn’t have it inspected. If you did, who recommended them? I would call the Inspector as well. I have received concessions from both sellers and inspectors for things not disclosed or missed when inspected.

Ashley, congratulations on your first purchase. Don’t give up just yet! I can see how this seems overwhelming, but don’t get down on yourself. Instead, kick into high gear. Get as many estimates and opinions (from professionals) as possible. Things may not be as bad as you think. Plus when you do repairs, like the kitchen flooring, you can try going to a flooring outlet. I often fInd great deals Remember, the house needs to be ready to rent, not to sell. You always learn the most from your 1st rental. Stay steadfast to your goals. You will learn so much about what you can accomplish over time with this property. And, when all is said and done, you will be ready to continue your investing career that much smarter. Remember the saying, what doesn’t kill you, makes you stronger (and smarter). Good Luck.