All Forum Posts by: Garrett Ramela

Quote from @Rene Hosman:

Everyone's "favorite" time of year is upon us....  I'm talking about tax season! 

I’m curious about how much time you all spend prepping for tax season before your CPA (or tax preparer) officially files your returns?

I'm wondering what tools and resources you all use as rental owners and investors to get or keep your financial ducks in a row? Collecting rent statements, expense receipts, mortgage interest docs, and more—can sometimes feel like a full-time job in the weeks leading up to tax day. I'm really old fashioned and have been using spreadsheets for years. I know of other softwares, like Baselane that handle income and expenses all in one place. What is your take on these softwares that help with rent collection and expenses? 

What softwares are you using? How long are you usually spending on prep before you hand it all off to your CPA? A few hours? A couple of days? Multiple weekends? Do you have a particular system or software that’s been a game-changer for you? Drop your experiences below! I’d love to hear how you’re tackling tax prep and if tools like Baselane—or any other solutions—have made a difference in lightening the load.

 I've been using Baselane for over three years now and tax time is always easy. Everything is up-to-date in realtime so I could do my taxes any day of the week! Just download their tax package and you're done!

Baselane rolling out this feature was a game-changer! I immediately offered to pay the cost to my tenants to make it more accessible. Credit reporting is a no-brainer, and Baselane is excellent for releasing it!

Quote from @Rene Hosman:

Quote from @Saad D.:

I feel very strongly about this topic. To be transparent, I work at Baselane. In fact I joined the company to help build a product that can help everyday investors organize rental finances like the pros do. 

I have been use Baselane for the last three years and I like being able to login and at any moment get a very clear picture of my rental earnings for the month. 

Curious to learn from others. 

 Thanks for the transparency Saad! I'm curious if you can provide any links or direction that show instructions or guides on how to best start with Baselane in terms of transferring data you may already have from a spreadsheet to your system? I think that particular hurdle is what is holding me back from a software solution at the moment because it seems like a daunting task. 

Secondly, because we're almost at the end of the year, is this something you recommend people look at starting soon so they can start fresh for the new year? Or is is pretty easy to transfer this years data into Baselane to get started at any point in the year?

It's simple to get up and running with Baselane. A little over three years ago, I was managing everything in Excel and simply got tired of it. Excel is incredibly manual and error-prone, so I went to find a better solution. I looked at various tools but ultimately picked Baselane due to its ease of use and scalability. This was over three years ago, and I've been a Baselane fan ever since.

Let me know if you ever want to discuss things to consider when moving tools! Depending on your portfolio, a few approaches are easier to get up and running quickly!

I’ve been using Baselane for roughly three years now and think it’s great! If you’re looking to get off Excel and don’t want to pay a bunch of money for a tool like Buildium, it’s great! I have three addresses with 12 units and it handles everything well! I’m happy to even hop on the phone with you and give you a walk through if it makes sense. You can also join the Baselane User Group on Facebook to get more insights.

Hi @Shannon Erickson, would you be open to a split gender room? My friend and I are interested but would like 1-2 other folks to get the pricing down. I was based in DC up until three months ago, and she's in DC now!

In any case though, we should connect! I have a condo in Alexandria and one in the National Harbor!

Quote from @Michael Paywala:

Quote from @Emil Gonzalez:

Quote from @Nikhil Mascarenhas:

Hey,

Please reach out to me if you still looking for a 2 nights room mate. 

Thank you,

 @Emil Gonzalez

Howdy I’ll be attending BPCON and looking for a roommate. Are you still attending?

 Hi Michael! Are you still looking for a roommate?

Hi all!

Considering attending BPCon this year, but would like to room with someone. Is anyone interested?

Thanks!

Garrett

Thank you for welcoming me Andrew! Best of luck to you as well!

Hello everyone! Is anyone interested in going through the "Free Course" under the "Education" tab and discussing it among each other? It can be a great way to learn and build relationships!

Hello BiggerPockets, my name is Garrett Ramela. I just found out about BiggerPockets and I must say I'm very impressed so far. I look forward to sharing ideas and learning from one another. I'm still new to the real estate world so please don't hesitate to give me any tips if you can, it will be greatly appreciated!