All Forum Posts by: Noah Bacon

Are you looking for more resources on how to self manage your rental properties? I know as a rookie investor one of my biggest fears was in my confidence on how to effectively manage my portfolio, and any tips or advice from experienced property managers was gold. I know this book will be a crucial guide for those starting out and for experienced investors that are looking for a way to save money with the right systems in play, so please let us know what you think the best book title would be!

Of the following book titles, which do you find most compelling for a book that teaches you to be a landlord who self-manages their properties?

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Hey Claudia!

I'd fill out your profile fully before you do anything else! As that will at least help folks that you reach out to know that you are a real person, with a picture and professional bio. Particularly be sure to include your goals for real estate investing so that folks can help you.

I would highly recommend listening to the the On the Market Podcast to help you select the right market for you next rental property, especially if you are looking to invest out of state. I would check out one of the recent releases 153: HousingWire CEO: This Inventory Shortage Could Last Decades w/Clayton Collins as I think this episode would provide insight on what markets may see the biggest price reductions!

I hope this helps, and please let me know if I can help answer any of you forum questions!

 Hi Brandon,

Please email [email protected] the email address associated with your Stessa account and we can work with Stessa directly to get you set up.

Hi Courtney,

BiggerPockets Pro members get access to all Stessa core (free tier) functionality – plus unlock exclusive access to advanced features, like unlimited portfolios and Schedule of Real Estate Owned (SREO), all at no additional cost.

BiggerPockets Pro members have free access to all Stessa’s featured benefits as well as advanced features, like unlimited portfolios and Schedule of Real Estate Owned (SREO) – giving Pro members exclusive value not offered to Stessa Free members.

• Simplify tax time and help maximize deductions
• Organize financial data and accounting
• Easily track key property metrics to optimize and boost ROI.

When I was saving up a down payment for my first house hack, utilizing a Financial Advisor's services was one of the most beneficial things I could've done to start off my real estate investing journey. Once I closed on my primary and essentially used every last dollar to make it work, I have not used a financial advisor since and am considering utilizing their services again. I now have much more clear goals in mind and a consistent personal budget than when I was starting off, yet I am by no means saying I am better equipped to yield the best return on an investment portfolio. But, I am wondering if any other investors have found value using an advisors services with the short term goal of saving a down payment? 

I have found massive value in adding an investor friendly CPA to my team after owning real estate, and will never consider filing my taxes on my own after some eye opening meetings! 

What financial services professionals do you have on your team? 
How did you find them?

If you have more than one poll selection, please reply with your answer!🗣️

The easiest solution to combine your two Stessa accounts would be for you to add the email address you have associated with BiggerPockets as a collaborator to your already active Stessa account.

Then log in with your BiggerPockets credentials (as that collaborator) and it should upgrade your Stessa account.Here are some easy steps to follow: https://support.stessa.com/en/articles/2105533-the-power-of-portfolio-collaborators

If this does not work, please message [email protected] and we can work with Stessa directly to get you set up.

I would analyze the rental rates in your market annually at a minimum to get a feel for where you compare to other rentals. This doesn't mean you should raise rent every year as you need to factor in your tenants track record. 

If you are under market value even with a good tenant, I would look to increase rent to catch up to the market. Thinking from both the landlord and tenant perspectives, a gradual increase annually would be preferred instead of a 10%+ increase the following year to further try and catch up with the market. 

Great job, Leonardo and congrats on your second home that is very impressive!

Are you going to be house hacking this home to try and offset the higher mortgage payment than you were expecting? 6.75 seems like a really great rate in today's market, and gives you the option of refinancing sooner if you are paying down with additional principle payments. 

Hi Deb!

Do you use the same email address for your BiggerPockets Pro account as your Stessa account?

If so, you can log into Stessa using your BiggerPockets Pro credentials and it will access your Stessa account with the additional Pro features. If not, please message [email protected] the email address associated with your Stessa account and we can work with Stessa directly to get you set up.