All Forum Posts by: Adam Jernow

Hi All,

I'm a long time Buildium user. Several hundred units.

The software is good overall but the accounting is week for institutions. There have been issues with auto reconciliation that take Buildium months to resolve. It's not a feature everyone uses but it's a real time saver. You should check that out if you haven't.

The bigger issue that I'm tackling now relates to trial balances. Buildium displays trial balances incorrectly and the bigger issue is that they seem resistant to repair their software code to remedy the problem.

So... I'm looking into other management software. I'll start a separate thread because although plenty of people are using Rentecdirect.com or Cozy, I need something more robust.

Is there anyone in the community that has experience using both Appfolio and Buildium and Yardi? Or other strong management software line Real page or MDS? I'd love some comparative opinions.

Hi Pat,

Welcome to BP. 

Yours sounds like a good business for someone willing to work.

I'd be interested in talking about your deals and investors. What areas of Jersey are you active in?

-Adam

Hi,

I have some money in my SEP and a potential investment in rental real estate (mixed use, cash flow positive multifamily to be specific). The question is, would there be any benefit to buying the property in my SEP or should I (because of depreciation, liquidity/accessability and cash flow) simply buy it outside of a tax sheltered account.  

SEPs, for those of you unfamiliar, are similar to IRAs but they seem focused on business owners.

Thanks for your input!

Hi All:

I'm looking over a list of tax liens for sale and seeing that plenty of the properties are listed as owned by various banks including FNMA.

Does that pretty much mean that these are REO properties? This is not a high income area in NJ.

Thanks,

Adam

Thanks, Nick. 

Buildertrend is geared towards builders, not property management so I'm not sure there's a fit but I appreciate you weighing in.

The Buildium feature is still a problem with Yodlee and they are taking well over a month to address it so if anyone else is experiencing this auto-reconciliation issue, let me know here.

-Adam 

Hi All:

Can you share what those price quotes for Yardi were?

I did a comprehensive analysis years ago between Appfolio, Rent Manager and Buildium. Buildium came out on top but they seem to have let many features fall or fail (auto reconciliation being one of them) and client service also has taken a hit.

Now I'm looking for better budgeting capabilities, report writing, bill payment. We manage several hundred units for demanding clients.

Hi All:

Is anyone else having a Buildium issue with the auto reconciliations? Multiple banks are not feeding as they should. Let me know if you're experiencing this too. It may be a partnership issue with Yodlee but the team at Buildium doesn't seem to be taking care of it.

-Adam

Hi

It's not so much that there is no REO. It's that REO is even slimmer inventory than the rest of the market and doesn't get discounted very much in NYC.

Let's see if 2016 is any different. 

hi Josh,

This is still an issue on iPad. Thanks for looking into it.

Hi All!

I'm looking for agents that focus on REO in Brooklyn.

Any recommendations would be appreciated.

Adam