All Forum Posts by: Bill P.

@Mike Jones

In my part of the country, double pane windows are the standard. Usually filled with argon gas for better energy efficiency. However, you have to make sure that the mfg. is reputable as the quality of windows  has a great range.

@Daria B.

We price our rates on a mark-to-market basis when we are originally showing it and then increase it by 2.5% annually. Most of our leases are for three years which helps us cut down on vacancy and all of the associated costs. Our entire portfolio is made up of SFHs. Last property that became vacant was there 7 years and she only moved because she lost her job and couldn't afford it after a few months of unemployment.

@Aaron Mikottis

How about changing your business cards to: Aaron "Pongo" Mikottis as a way to introduce the Pongo portion of your identity?

@Byron Bohlsen

As @Wayne Brooks said

It's your bill, pay it.

  Nothing more needs to be said.

@Shane H.

I don't like the way that chart of accounts show up on the Balance sheet. I don't like the way that an accurate cash flow statement cannot be produced. I don't like the way that owners' equity cannot be automatically divided in regards to YTD profit. I don't like the owner's portal process as it is not specific enough for members of an LLC to see their portion only. I don't like the lack of diversity on printing checks from multiple accounts, pay employees or issue 1099/W2s. I don't like the lack of consolidation of the P/L.

But, in all honesty, for most people with a singular basic need, Buildium was the most robust system out there that I tested. My needs are just a little too complex for it to work perfectly without the integration of another accounting program.

I'm not an attorney but if you have PROOF and not just suspicion, then take your proof to the FBI. I have also heard that it is important to make sure you have clean hands as the first level of conduct is for them to assume you are involved as well and are reporting because of some "falling out" with the target. So properly reflect on your conduct as some things have unintended consequences.

@Christian Martinez

Don't know about TX because it has so much land and the laws in rural areas could be different than OH. But in OH, there is so much more that goes into getting approval for building a home. Zoning, health dept. permits, land restrictions, building permits to meet code (garages aren't the same as dwellings), etc. You need to research this a whole lot more in your local area before you get on this bus.

@Account Closed

Accepting suspicious money from anyone and investing in real estate. Accepting known money from illegal sources. Feds will use "common man" theory to convict you for doing either. (Would a common man understand that the $1,000,000 wasn't from selling lemonade on the corner) Biggest defense is to know your customer or investor, have them source their funds, and document discussions with investors regarding their transfers. Hope this helps.

 I used to own a public accounting firm and we were taught thru continuing education by the local BAR Association what to do and not to do. Of course, we didn't have client privilege either so we had to be careful on what we learned. Did not want to be involved with an after the fact "conspiracy to commit" violation. Easy to do if you focus on the money and not on the character of the person with the money.

@Alex M.

 I think that Buildium is a great product. My biggest concern is that it does not have the advanced function as a full accounting system (especially if you are an accountant by schooling) But with that said, I feel for most people this is a very capable way to go. I only miss the accounting functions because I am use to them. You won't miss them if you never had them. I wish the cost was lower for the "up to 10" crowd, but that was a corporate decision to raise the pricing a few years ago and nothing can be done about it. All told, my reason to walk away from Buildium after the trial period was a personal decision and not based on the poor performance of the software. I still want to try Rent Manager but haven't had the time to do so due to all of the activity I have been doing with my company. I hope to do it soon but quite honestly I don't know when that will happen

@John Cohen

I agree. Great program.

@Sue Deng

Yes, but never overpromise and always deliver on your promise. Understand how to do wholesaling legally and don't cross state real estate laws. Remember you are selling your interest in a contract and not selling a house.