All Forum Posts by: Ryan Spath

@Massiel Pezzino 

We manage our own bookkeeping in-house using an Excel spreadsheet system tailored to our rental portfolio. Each property has its own dedicated tab, where we meticulously track income and itemized expenses. This allows us to clearly see the financial performance of each unit.

At the end of the spreadsheet, we maintain a consolidated summary tab that provides a high-level view across all properties — ideal for reviewing overall cash flow and portfolio health.

We currently own a dozen long-term rental properties, and classifying monthly expenses typically takes about an hour. To keep things clean and organized, we use a separate business credit card and bank account solely for our rental operations, ensuring there’s no co-mingling of personal and business funds.

For tax purposes, we partner with a CPA who handles all of our filings and provides guidance on deductions, depreciation, and compliance.

Hope this helps!

Absolutely — that’s a great observation. Right now, tools like ChatGPT are incredibly useful for high-level insights into the real estate market: trends in a city, popular neighborhoods, or general investment strategies. But the current limitation is in accessing granular, property-specific data — like comps, rent estimates, or historical sales data — in real time.

That’s where AI agents with live data integration will be a massive game changer. Imagine being able to ask about a specific property and instantly get a breakdown of:

• Nearby rent comps

• Neighborhood appreciation trends

• Estimated cap rates and cash flow projections

• School zone data, walkability, and even local zoning details

This kind of insight would streamline the decision-making process for investors, homebuyers, and even realtors. It essentially compresses hours of manual research into seconds. Once AI can tap directly into MLS data, local rental databases, and market forecasting tools, it won't just be a research assistant — it'll be a full-blown investment advisor.

The potential to democratize and accelerate real estate decisions is huge.

@Jonah Slove 

I went through the photos, and the property looks fantastic—great job! I'm really fond of this part of Nampa; it's seeing a lot of gentrification. You’re about 2 miles from NNU and the same distance from downtown, which is a prime location. Given the steady population growth of around 3% annually over the last decade and the current housing shortage, I think holding onto this property could really pay off in the long term. It’s likely to appreciate a bit faster than average.

It sounds like you've got a solid strategy in place. If you're considering a cash-out refinance at 75% LTV based on your current asking price, you could pocket around $285k. Does that align with your calculations? With a DSCR of 7%, your monthly payment would come in around $2,500.

I don’t have experience selling on terms, so I can’t offer much input there. But with you being listed with KW, I’m sure you’re in good hands. If you ever want to connect and chat about real estate investing, I’m based in the Boise area and would be happy to meet up sometime.

@Sam Zawatsky 

Great question! One of our duplex properties in Florida does not have a dishwasher. Interestingly, many of the comparable rentals in that area also lack dishwashers, and we haven’t seen any impact on rental income because of it.

That said, all of our single-family homes do have dishwashers—just like the competing properties in those neighborhoods.

At the end of the day, it really comes down to what’s standard in your target market. If you're investing in a property type or area where dishwashers are expected, it’s probably smart to include one to stay competitive. Matching what similar properties offer can make a big difference in attracting and retaining tenants.

@Jonah Slove curious what did you end up doing with this property? Flip or BRRRR?

I would simply issue a 30-day notice for Tenant B to vacate and handle any issues that arise as they come. Based on the details you've shared, it seems that this tenant is not adhering to the agreed-upon rent-by-room terms.

Looking ahead, would it be possible to include a clause in the lease that specifies any emotional support animal (ESA) that causes a disturbance or engages in a fight with another tenant or animal would be grounds for immediate eviction? This could help prevent future conflicts and clarify expectations regarding animal behavior.

@Gustavo Visalli 

Deal with Your Dad via Real Estate Attorney

Working directly with a real estate attorney is a great idea, especially given the complexity of seller financing and the family dynamic. Here’s why:

• Legal Documentation: A real estate attorney can draft the seller-financing agreement and ensure that all the terms are clear, enforceable, and fair. This helps protect both of you legally in case there are any misunderstandings down the road.
• Clarity on Rent vs. Loan Terms: The attorney can help draw the line between rent payments and loan repayment, ensuring the IRS sees it as a proper transaction rather than just a gift.
• Trust and Family Security: Having a professional involved can help ensure that both you and your father are protected, even if family relationships are involved. This adds a layer of formalism that may prevent potential issues later on.

You’re right—this is a fairly common issue when selling rental properties, especially with the security deposits already in play. It sounds like you're in a tricky position, balancing the fairness to the tenants, your past expenses, and the new owner’s interests. Here’s how you can approach it:

1. Security Deposit Allocation: The primary purpose of the security deposit is to cover any damages, unpaid rent, or costs related to tenant turnover, so you’ve already accounted for the expenses where the deposit would have been applied. If the deposit has already been used (for repairs or unpaid rent), then you're right to feel that you're not obligated to hand over the full amount to the new owner. Essentially, the deposit has already been "spent" in your case, even if the tenant hasn't been officially informed about the exact balance used.
2. Documenting and Adjusting the Deposit: What you could do is adjust the deposit amount to reflect the remaining balance owed to the tenant, after accounting for any damages or missed rent. This would be a fair way to pass on the deposit to the new owner without either you or the tenant feeling unfairly treated. You can present the new owner with an updated ledger showing the tenant’s current deposit balance, which should include any deductions for damages or rent arrears.
3. Liability Agreement: A liability clause, like the one you suggested, is a solid idea. You could draft an agreement that the new owner assumes the deposit but you remain liable for any disputes that arise related to the deposit, especially if the tenant claims they should have received more. This way, you're protected in case the tenant challenges the amount or you’re asked to cover the full deposit in the future. The agreement should also clarify that you're not transferring the liability for pre-existing issues, only the remaining balance of the security deposit.
4. Communicating with Tenants: It's always a good idea to be transparent with tenants. If you're planning to reduce the deposit based on repairs or unpaid rent, they should know. In some cases, tenants may be willing to negotiate or pay outstanding amounts, which could resolve the issue before the transfer to the new owner.
5. Legal Considerations: Double-check the state or local laws around the transfer of security deposits during a property sale. In many places, sellers are legally required to provide an accounting of the security deposit to both the new owner and the tenant. You might also want to ensure that the tenant is properly notified about the transfer of their deposit to the new owner, which is typically required by law in many jurisdictions.

@Sunny Burns 

Congratulations! What an incredible achievement!

You've accomplished something that many only dream of, and that in itself is truly inspiring. I really admire how openly and vulnerably you’re sharing your journey—it takes courage to put your story out there and invite conversation and perspective from others.

From my view, you’ve absolutely made the right move. Life is short, and you've found a way to align your priorities with what matters most—being present with your family. That’s powerful.

I also think it's smart how you've intentionally kept your portfolio at a manageable size. That kind of clarity and control means you're not constantly putting out fires, which gives you both peace of mind and flexibility.

And let’s not forget—you’re only 35! If life throws a curveball or something doesn’t go quite as planned, you’ve got plenty of time and energy to pivot, adapt, and continue moving toward your goals. You're playing the long game—and doing it well.

@Bruce Marshall You're very welcome, and I’m glad the feedback was helpful! It’s great to hear that you’re putting together a list of potential agents to interview—being thorough in your search is key. I completely understand why working with an agent who is also an investor might be a high priority for you, as their experience and perspective can bring valuable insights to the table. It’s definitely worth exploring this option. Wishing you the best of luck with your interviews, and I'm confident you'll find the right fit for your needs! Keep up the great work!