All Forum Posts by: Account Closed

@Nelson Ellingham

Each property its own account, one cc specifically and ONLY for property expenses. Pay the cc from appropriate property account. Never mix personal and deductible in same account, you’ll just be making more work for yourself or your accountant. Doing this properly means you’re monthly statement is your book keeping.

@Ray B.

Pics can be improved with some attention to detail. Body copy can be drastically improved with some effort. Overall house looks nice enough.

@Rachel Conlee

Pro tip: don’t take advice / instruction from folks who haven’t completed the task you wish to tackle. So asking your agent was likely as useful as asking your old math teacher. And if your agent IS an investor, I’d be hoping they’re better at spotting deals than managing them. Cheers

@Theresa Harris

Could be. Looks like a phone call was made to politely say “don’t put your stuff in my can” and then it went south. Which was 100% predictable.

@Michael Gabin

I think you should likely grow up and act like a genuine neighbour instead of an entitled tenant. “My can” was a bad idea. Make sure the garbage gets in ANY can and the cans get out. Beyond that who gives a rip? Just my thoughts

@Jeremy Anan

You bought a property whose only resident has been generations of mice the last decade,.. this is to be expected. If you think it’s out of line try calling a few structural repair specialists, then you’ll know what a reliable perfectionist will charge. My guess is you’ll be sticking with your guy. While you’re gutting the joint, run the numbers for building that out to have 2 bedroom units instead of 1. Where I’m at, 1 bedrooms are absolute dogs to rent.

@Casey Crites

Too many cooks in the kitchen. No matter how clear it is on paper someone will interpret differently which ultimately leads to a 2 against 1 situation and someone ends up disappointed/ frustrated / insert other negative adjective here. Avoid 3 partners or more unless you’re doing a syndication. 1 partner per deal with managing partner having final say is ideal.

@Christian Walker

You: “Dad, what do YOU think is fair?”

Dad: “______”

You: “done. Thank you for having continued confidence in me and helping make me the man/ woman I am today. I’m happy to do that split right now because you are family. I’m sure you remember my goals are lofty so once we’ve got you set up and financial secure we can always reevaluate our split. Does that seem reasonable to you?”

Dad: “where did you learn to negotiate like that?”

You: “from mom, she runs the show”

@Chris Habets

What Roy said. This is 100% doable as you desire and I have my business set up this way currently with my last purchase being April 2020. Zero issues with this from multiple lenders so far.

@Stephanie Barthelemy

That’s fair. You’d be surprised the number of people who want to shop long distance because they read it worked good in a book.. even though they may be in the absolute ideal market for their chosen asset class.