All Forum Posts by: Jaret Walker

@Christopher Sanchez @Connie Chan

Thank you for the input! I am self managing 16 units and I am growing fast. I am using old school spread sheets and I am out growing that fast. I would like whatever program I go with to allow online payments, maintenance requests, basic accounting, online applications, and reasonable priced. I have looked at other programs and they are either more than I need right now or does not offer enough. Are there any other software companies that you would recommend looking into? I need it to scale with me and I don’t want to out grow it but I also am only managing my properties so I don’t really need a program that is more designed for property managers with 1,000 units.

Has anyone used Buildium landlord software? What do like like and dislike about the software? I am considering switching over to the software and would like to hear everyone’s input!

@William Frankel

I have 2/1 and 2/2 both stay full but I have lost a lot of renters moving to 3/2 so that will be what I move to next. It’s hard to compare my 2/1 and 2/2 though because they are very different in price so they attract different tenants. For reference my 2/1 are $700 a month, $86 per square foot to build (without land). My 2/2 are $900 a month, $95 per square foot to build (without land).

@Mike Jacovelli

People fear what they don’t understand. I get this all the time and it will never stop. Don’t waste your time trying to make people understand what you are doing. Surround yourself with people that you don’t have to explain it to. You will still have those people that you come in contact with that won’t understand what you are doing no matter how much you try to explain it. In those times you are best just to smile and talk about something else. Keep doing you and don’t get caught up or discouraged about what people think!

@Grant Cardone

Good information!

@Timothy Hero

At the I am at 11 doors and in the process of building 6 more units at the moment. I would really like to have 150 units in the next ten years. I also am wanting to get my feet wet in some Short term vacation rentals as well and see how that works out.

@Mike S.

Thank you for the info very helpful to hear from someone in the area!

@Mike S. @Sherin Sunny

I agree with Mike as well. I live in a very landlord friendly area with a very landlord friendly judge. If my property was in say California or New Jersey I would definitely put them in an LLC just as an extra layer of protection. Also Mike I see you are in Florida. I have been looking at property in Florida and I am wondering how landlord friendly the state is?

@Sherin Sunny

Yes your standard policy will not cover things like someone suing you. Your standard policy will only cover problems on the property itself not lawsuits that you may get into with your tenants. For instance I have a $1.5 million policy on mine and I am building another $400,000 at the moment and will add another $500,000 to my umbrella policy once they are finished before any tenants move in.

@Sherin Sunny

As long as they are smaller Multi-Fam you should be fine with a umbrella policy from your insurance provider. I would talk with your agent and see what they offer. That should be all you need, I do not use an LLC because a umbrella policy does everything that I need it to. Hope this helps!