All Forum Posts by: Simon W.

There's many ways to go about it.

When you say building a team, are you looking for 1099s or employees? Are you going to manage it or you mean a team of professionals that aren't really a team? 

Talk to some local PM company

Accounting - 1 size fit all or you can have multiple ones that handles the property level and the corporate level. Get a separate person for a CPA.

Get a legal advisor

go to meetup or just find them here. You can form a team just from the people on this forum.

 Yup Xero is a good choice. The only thing I don't like about it is the bank sync. Not all banks can be synced.

Go for the 30 day trial and see if it works for you.

@Courtney Duong unfortunately I do not have the answer to the QB Desktop. 

Every accounting platform is moving to subscription model sooner or later. It helps them make more money

you can get it from BP  - probably need to upgrade the membership. Or get an attorney to create it.

If you think you can create one, go for it. I wouldn't recommend you to do it. 

Welcome to BP

next step is keep reading more about it. Wholesaling isn't as easy as these books and gurus make it out to be.

My opinion: You're better off becoming an agent and making commissions that way. 

recommendations to what?

This isn't possible. 

There is no best landlord software. There's preferences.

If i have to choose, I would choose either AppFolio or Yardi Voyager, but these can cost anywhere from $14K to $150K. 

Here are some of the responsibilities.

Financial Management:

• Overseeing the HOA's budget and finances
• Collecting dues and managing delinquencies
• Maintaining financial records and generating reports

Communication and Administration:

• Acting as a liaison between the HOA board and residents
• Disseminating information through newsletters and notices
• Responding to homeowner inquiries and concerns
• Scheduling and facilitating HOA board meetings

Maintaining the Community:

• Overseeing maintenance and repairs of common areas
• Enforcing the HOA's Covenants, Conditions, and Restrictions (CC&Rs)
• Managing vendors and ensuring adherence to contracts
• Supervising common areas like pools, gyms, and landscaping

Other Responsibilities:

• Planning and organizing community events
• Helping to resolve disputes among residents
• Staying compliant with local and state laws

The PM doesn't go on-site is very weird, it's called Property Manager for a reason, to oversee the property. 

Rental Properties only have so many deductions, this is why your accountant is saying standard procedure. 

Are your 3 rentals all long-term? are you making improvements to the properties? are you getting a cost seg on these properties? 

There are plenty of accountants here in BP.