All Forum Posts by: Chris Walters

@Bob Collett Hi Bob! Thanks for all that information. It will be veey usedul. Can you please tell me if hou use difeerent software for your property managment and your company's book keeping? Can you please tell me which ones you use.

Thanks

@Roy N. i haven't purchased a property yet (still looking), therefore, it will have to be cash on hand. When putting up colleteral, do you know if the ratio has to be 1:1?

@Brandon Battle and i am trying to avoid mixing personal and business expenses

@Brandon Battle Oh yes, I fully understand that. My only concern is when purchasing online products or services such as my book keeping/ property management software or website creation/hosting... all those require credit cards.

His initial solution was to use my new personal credit card which they sent to me. Why would I use my personal for business? Like, how will they evaluate my company's paying capabilities if I use my personal card? It's a bit frustrating

Yes, that's exactly what I was thinking but the banker is not responding to my email asking him what the process would be. Not sure if he thinks I don't have the money or that I am a tire kicker. He will be up for quite a surprise if I decide to take the mortgage with another bank when comes time to purchase my first property

Good day,

I recently opened a business bank account and mention to the banker that I would like to obtain a business credit card in order to avoid using my personal credit card for online business expenses. The agent got back to me a few days later stating that it was refused because my business must be over 2 years old. The only way of getting a corporate credit card would be to provide collateral and apparently that would be extra charges.

That being said, has anyone encountered similar road blocks and if so, can you please advise how I can counter this obstacle? I am located in Canada, therefore if anyone can  provide advise me on getting a Canadian credit card. I want to also build my business credit score, therefore, any tips will be appreciated.

Thanks,

Chris

Good day, 

I recently opened a business bank account and mention to the banker that I would like to obtain a business credit card in order to avoid using my personal credit card for online business expenses. The agent got back to me a few days later stating that it was refused because my business must be over 2 years old. The only way of getting a corporate credit card would be to provide collateral and apparently that would be extra charges.

That being said, has anyone encountered similar road blocks and if so, can you please advise how I can counter this obstacle?

Thanks,

Chris

@Doug Matthews What is the main difference. What does Quicken have over Quickbooks if less than 10 units?

Hi everyone, 

I am seeking your opinion about the most efficient software brands that can be used for book keeping and other software brands that are know for property management. This would be  for 3 or 4 units to start off. If anyone from Montreal or anyone else in the province of Quebec can also indicate what would make it easier for most real estate accountants in the region to work with. I have no ideas if some of these types of software take in account certain aspects or constraints regarding law of legalities in Quebec. I would not want to purchase something that might complicate things when I need to turn over paper work to accountants. The easier it is for the accountant, the less I have to pay for him/her to fill out my income tax statements.

Thanks in advance

For book keeping I heard of:

1-Quickbooks
2-Sage

For property management:

1-Buildium

2-Propertyware

3-Cozy

4-Rentec Direct

5-Rent Manager