All Forum Posts by: Jim Workman

@Shane H.

Thanks Shane,

Terrific idea!

@Gita Faust  Hi Gita,

I just bought your Ebook, and I understand the reasoning.  However, my CPA would like all of the details in case he disagrees with a classification.   With recent IRS changes, repairs vs maintenance vs capital expenditures can make a difference.  

If I can easily import the details, it shouldn't be a lot more work, and it will allow me to drill down to the apartment of tenant if I want to.

My property manager uses Buildium. I have asked for a CSV file of all transactions so I can easily import them into my bookkeeping. The best he has been able to do is to export a report in xls format.  With some manipulation, I can create my needed columns, but there should be a better solution.

Does anyone using Buildium know how to create a simple CSV (or tab delimited) file that has columns for all (or most) transaction fields?

I would think that many property management customers would want this.

@Chris E.

"Luckily" my sale escrow took 3 months to close which gave me extra time to search for properties. I was looking for a 10% CAP to cover the high mortgage debt which came with my 1031. Due to the 10 loan Fanny rule, I bought 5 multifamilies in Missouri and 5 rehabbed SFRs in Birmingham. I have spent a lot of time wondering what I had gotten myself into, but as the 1st anniversary nears, it has begun to cash-flow.

Based on my experience before you go into escrow, I would recommend that you research what 1031 options you have, try to decide on a geographic market (or 3), and determine the type of property you would be comfortable owning. (Listening to the BP podcasts during rush hour is very helpful.)

Feel free to PM me. I'm not yet sure that I am a success story, but I can give you my thoughts.

Hi Brandon,

I did an exchange last year going from 1 Calif property to 10 cash-flow properties.

@Jie Li   Re: William Robison

I know William used to rehab & flip houses, and I know he has taken over a rehab-gone-bad for one of his clients, but I don't know if he does that normally.  You can call at

816-804-1226.  If nothing else, he may be able to advise you about the KC market.

@Jie Li  A couple of suggestions when buying turnkey:  Get a 1 year warranty because many of the houses have hidden problems that the rehabber doesn't know about.  Get an appraisal so you know its market value.

An alternative in KC is to use William Robison like I did.  As a RE broker that knows the KC suburbs, he helped me find an investment property from all that were available.  More importantly, he is a great property manager which is the most crucial aspect of remote investment.  As such, he will handle placing tenants.  Compare that to the turnkey paradigm.

@Steven To I have used William Robison of Kansas City Investment to buy and manage 4 multi-families.  I don't think you would call him a turn-key provider.  He helps you find a property and then does the property management.  He has experience with 'flipping', but feels that there is a conflict interest when selling to his clients.  

I know he has supervised a rehab for one of his clients after her 'turn-key provider' turned out to be a crook. 

If you buy from a turn-key, be sure to get a 1-year warranty.  They usually buy foreclosures which can have 'hidden' problems.  In a normal sale, the owner has to disclose all known problems, but neither the bank nor the rehabber knows about them.  Ignorance is bliss (and profitable).

I financed 4 multifamilies last summer through Stifel Bank, Brook Mullen

I got a good rate, and the process went very smoothly.

@Maria Mendoza You didn't mention a real estate agent.  Call 2 or 3 in the area you like.  They will bring you new listings as soon as they hit the market.