All Forum Posts by: Adam Wigdorski

Anyone have experience on which software has the most accurate data. Propstream vs Reonomy?

My main focus is loan balance, transaction history, and owners address

Any thoughts on additional platforms that may work better?

@Joel O.

Commercial banks allow you to place commercial mortgages in your name not just an llc

@Steven Barr

Forget the whole 1% rule. Do the true math

And with todays interest rate you can still cashflow. Easy answer- put more down or buy at a lower cost

@Nicholas Burch

If you have 80k laying around don’t by a dump of a house for 75k. You can buy up to 400k of multifamily that cash flows day one for the same cost.

If it’s a 50/50 split your going to walk away with only like 10k in after tax profits for a lot of work and cash

@Nicholas Burch

What’s your question?

Are you flipping this?

And not a lot of profit after commission , closing cost, partner share , and taxes.

@Puett Willcox

Put it in a Delaware statutory trust. When the manager sells take those proceeds and 1031 into another trust or into a bigger multifamily.

@Jay Abdallah

Personally I would have kept the properties and fired the management company. Who in buffalo did you use by the way?

Everyone will make mistakes. I think your biggest mistake was noticing what the managers were doing and either not calling them out or moving on from them. So lesson learned. Jump back up on that horse

@Mackenzie Grate

So looks like your from ny. The way you do things how did you find the loophole around nys law not being allowed to charge a late fee of 5% rent not to exceed $50?

Or you just don’t care lol

@Sean Kehoe

Congrats !!!!

Not down playing your one property but it’s simple enough to log on an old school ledger format. You can tweek it up in excel and label your debts appropriately to match what your accountant will put on your schedule e.

Definitely don’t pay for any “software”

You can collect the rent online for free with Zillow or apartments.com.

Then just use the ledger for your bookkeeping.

@Melissa Sao

Start using commercial loans and get an llc.