All Forum Posts by: Jake Kinoshita

@Sal San

If its a large property, Appfolio or Buildium is great.

If you file just schedule E, Beaver is good. 

Cozy is great for rent payment. It was easy to set up and free!

@Alex Tang

To be honest, if it is only one property, excel will be good enough.

A lot of people use Quickbooks or Quicken i guess but it was too complicated for me.

If your property is actually big, maybe Appfolio or Buildium are good choices. 

I use a property management software, Beaver as it is a good for me, an individual investor.

I am thinking of buying some properties to become AirBnB hosts and make money.

How hard is it manage AirBnB? It seems like there are some people or companies that help owners manage your AirBnB but how can i find them?

Please share your thoughts. 

Of course quickbooks is solid but I use a property management software called, Beaver. It is the best for independent real estate investors I think.

if you run large properties, appfolio or buildium is a good choice.

It depends on how many properties you manage I think.

If it is a large property, I think Appfolio is the best. I hear Buildium too. They cover pretty much everything about property management business.

If it is not too big, beaver is great. They are a property management software but accounting is like quickbooks.

To check my available money to invest, I use mint as it shows how much I have in each financial investment or banking accounts.

For Stock and Bond investment, I use Etrade.

I personally like Marcus. It is online banking but I like it a lot. 

For real estate investment, I use brokers but currently I am interested in biggerpockets, roofstoock, and cadre.

To manage my real estate investment, I started using this new property management software, Beaver. 

It is not the best as they just started but I like it.

Managing money is not easy but lately, there are many softwares that help you manage your money or asset easily.

You should check them out.

I see some other websites out there that are doing the similar things as Roofstock but is there any other good ones Biggerpockets community recommend?

This information is not about license but its more like a utilization of depreciation methodology. Usually accountants or special consultants who are experts in real estate taxation know how to do this properly. Regular accountant is not enough. Basically the idea is that if you calculate the depreciation with the common basis mentioned for 27.5 years, you have to depreciate your expense over the next 27.5 years no matter what. But if you think about it, your property is a group of assets. If you break things down such as some equipments, Kitchen appliances, or special roof or something, each asset has a different life term. You can depreciate each asset over different life term. The total amount of those broken down assets have to be the amount you purchased at for the entire property tho.  I think it is very rare to do this kind of method for normal residential home because it costs a lot of money (hiring the experts) the benefit simply does not cover the cost. The common practice is that large company hires these tax experts to break the assets down and calculate the depreciation expense for each separated asset to maximize the tax benefit. 

I wonder if there is any online resources for landlords to keep updated on the property management regulations or laws in the area. I guess this is one of the reasons why you hire a property manager but if you manage your properties by yourself, how do you keep track of the new regulation or law?  Maybe none of investor is 100% compliant but I wonder if there is any online resource I can keep checking once in a while. 

I am interested in Roofstock.  Are their calculations are accurate?

It is not so difficult to find buyers from any website but I wonder about the experiences after the purchase if whatever the post said was correct such as cap rate and stuff. You cant really tell the condition of houses. 

Anyone can comment here?