All Forum Posts by: Dean Dubach

Hi All,   I have several notes I self-service, and I was wondering if anyone has set up chart of accounts for dealing with notes that they wouldn't mind sharing?  Thanks, Dean

Austin,   As the others have indicated, notes are front loaded, and capital intensive investments.   I switched to notes due to the lack of inventory in the Denver area, so I feel your pain.    

Based on your picture, it looks like you might be a young couple, so even if you don't need or cannot use the deductions today, I believe they carry forward.  You can let them build for a bright sunny day when your situation changes,  consult with a tax professional, I am not.

If you are a tired landlord, figure out a way to hand that work off to others.  Get a good property manager to take over the day to day operations.  Let them take the middle of the night calls, finding contractors to service what ever broke Friday night, etc..

Expect to pay 10% of the rent for a good manager, but mine are worth their weight in gold.  I'm in the Denver area, so my property manager that I love doesn't service Sterling (I assume the properties are local). 

Check Craigslist for rental listings, see if you can find a couple of property managers in the area, don't be surprised if they are part of a real estate agency.   Check references, with other RE investors, etc.   Bad property managers cost you money, just like bad tenants.

DenverDean