All Forum Posts by: Hussain Harun

I"m a big fan of Xero as an alternative QuickBooks for rentals mainly due to much lower cost and still having a robust accounting software. In my opinion, anything that's not QuickBooks or Xero is just a watered down accounting software.

I made a video about this on my YouTube channel, BP isn't letting me share it but PM me and I can send you the link

I am a big fan of calling previous and current landlords. The only reason not to do it is if you're lazy or trying to save time. They have been extremely helpful for me, I think it all depends on what questions you ask. I definitely put more weight into the previous than current landlord. As far as fake references, you can tell in about 10 secs if you're talking to a legit landlord or not. Again, it all depends on the questions your asking. Make sure they are open ended objective questions.

It's just another data point to add to credit score, background check, income, etc etc

I can share the question I ask if you want.

Yea a second on “How to buy Mobile Homes” by Adrian Smude. I just got through it a second time. Lots of gold nuggets.

 Awesome! Thanks for the info! :)

@Moshe Mindick, ah interesting! I appreciate the perspective. I had a QBO intro discount for 12 months then it went away :( 

Do you mind me asking what are the reports you need? Is it just a detailed P&L for the year, balance sheet as of Dec 31st, and general ledger?

Hi,

I was wondering if any investor or CPA can chime in on their thoughts about switching away from Quickbooks to another accounting software?

I have been using Quickbooks online for years and love that it's the industry standard and robust software. However, since I need the Plus version for class tracking since I have multiple properties I'm paying $85/mo. I have been using Xero and Quickbooks online side by side for a few months and Xero seems just as robust. Xero is only $13/mo. Xero is wildly popular outside the USA. 

I'm wondering if anyone made the switch away from Quickbooks and how it's affected their relationship with their CPA? Specifically, has it changed their tax preparation bill since they can't just send their Quickbooks file over to their CPA?

I appreciate and welcome any thoughts, concerns, or ideas!

I’m excited you’re hosting this event! Loved it when you came to Wisconsin to speak.

@Rachel H., @Paul Moore, I appreciate everyone's response! Lots of good info out there. I actually just got done reading How to Buy Mobile Homes by Adrian Smude, I think it's a fairly new book but had lots of good info!

I think the biggest thing for me is to start taking action and getting around other investors.

I have a few residential rentals (mostly duplexes and 4 units), I'm looking to get into buying mobile homes. All the info online is pretty overwhelming. Does anyone know any good books or resources they would recommend for buying mobile homes?

Thanks!

@Colin G Murphy and @Brenden Mitchum,

Thank you you both for your responses. I think I'm going to start by focuses on evictions and tax defaults in my area and see how that goes with my VA.

Thank you guys again for the advice :)