All Forum Posts by: Jeffrey K.

I think it is the same for all of us in decent areas. If it were easy everyone would be doing it.

The problem that I see it professionals who have saved some extra money who hear it is the time to get into real estate buying one or two houses not understanding the market and driving prices up. This is why you want to look at 5-20 unit buildings that would keep away the first timers and are too small for the big guys.

Over the winter there were a few deals that were really good in my area that went over asking. As of late, many of the properties seem to be over priced and sitting.

Cali doesn't make sense Bryan. You see all these people on TV who work a few days a week and own 3mm houses. It is a dream land.

Stay away

I have a MGT company that is the agent for repairs and collections. It has two bank accounts. A General and an Escrow. When you have a lot of properties it makes no sense to have two bank acccounts for each property.

Make sure you file all of your papers by LLC/property (mine are all in their own LLC) for tax time.

I would contact a rep and they will send you info on it. I don't know many Pros who use anything else. It is just a matter of which product of theirs you buy and if you want to have servers or have it hosted in the cloud.

If you are going to be doing anything serious you want Yardi. If you are past Quickbooks the other stuff is a waste of time. We are about to make the switch and it will be expensive. Do as much as you can with Quickbooks and MS Office and then upgrade to Yardi. You want something in the cloud because you dont want to have to keep servers going and secure.

I am with Dionte. My market sucks for flips and I would not touch them. I am making a some money buying rentals. It is slow and there is a lot of crap, but from time to time I get one.

I often have to take the ones that others don't want and that need a lot of rehab. If you have cash and know how to run a construction site then there are deals for you.

If it is easy it is usually not a deal (unless you get really lucky on a SS).

Tell the agent that you want 5k off the price and why and have them submit it to the bank. Is it worth walking over this roof? If they say no will you?

Depends how you write it. I write it to start after bank approval.