All Forum Posts by: Benjamin Knight

 Unless you love accounting, I have one piece of advice: hire someone. When we got to 7 properties or so, we couldn't handle the books anymore, even with one of these programs. I even dropped down to part time in my job to manage the houses with repairs and bookkeeping, and we still couldn't do it. My wife and I absolutely HATE accounting, and when it came to tax time, because we didn't know what we were doing, our accountants at the time (who also didn't know what they were doing) took our crappy reports and probably cost us a lot of money. 

There are bookkeepers out there that will simply manage your books for you, it doesn't have to be a CPA that costs twice as much. They will give your tax professional all of the reports they need to make sure you get all the RE deductions you should be getting. But, you have to be diligent in giving your bookkeepers ALL of your information. You don't simply hand them a box of receipts and say do your thing. Yes, it costs money, but it's being done right and I'll pay for that piece of mind. 

Ben, I live in waconia! I think right now is a bit slower time as people try and figure out what the housing market is doing. Especially at the price you are asking. While it's not high priced for 4 bedrooms int he area it is high for what else is in the market. You are basically looking for a family that needs 4 bedrooms. In a time of uncertainty I think many will not splurge on this unless they need to. Have you tried finding short or mod term tenants? I might have someone that needs a place due to a house fire. Or lower price by a few hundred to get more bites if you need it rented asap.