All Forum Posts by: Drew Wiard

Hey Chris....welcome!

I am a local investor (currently 11 rentals, done some flips, private money lending, etc...) here in Fort Wayne.  Am also a broker/realtor.

Happy to help however I can!

My financing has all been standard 25% down commercial loans to my LLC

These are OUTSTANDING answers....thank you!

BP Nation,

 I am curious to get your feedback. When is the right time to start hiring out the bookkeeping? Of course I realize that this answer is different for everyone depending on your goals and what you hope to achieve so I'll give just a little bit of background as to where I'm at and where I'm hoping to go. Maybe someone out there can relate and share your thoughts.

I am a working professional in Fort Wayne, Indiana who loves his day job. I invest on the side to generate additional passive income, but I do not want it to become or replace my full time job. Over the past 6 months I have grown from only two single family residences that I rent out, up to 11 SFR's currently. The growth has been great, but it's starting to wear on me a bit. I already have property managers, bankers, lawyers, laborers and mentors in place, and being a broker I can search for and purchase my own properties easily enough. That said the bookkeeping is getting old.

I'm curious to know from those who have hired a bookkeeper when they implemented the switch was it terribly costly and would you advise it for other Investor as we grow and scale up our business?  Would you advise using someone locally that I can meet with and work with or is it reasonable to use someone out of town or even overseas to help with this task?

Thx!

#AskBP

Yep.  I'm a realtor and investor here in the Fort.  I can give you some names.  Send me a message.

That's awesome man!  Congrats!  I've been using mine like crazy.  Absolutely no regrets!

Good stuff man.

Hey fellow BP'ers...

I've done some rehab work, but never cigarette smoke.

I have the potential for a VERY nice short sale deal on a duplex in a decent neighborhood.  It will need much rehab to begin with, but it's been smoked in for YEARS.  In all of my other units, I prohibit smoking (and cats) for the sake of unpleasant odors and allergens, etc...

How tough is it to remove smoke smell?  What considerations should I be taking aside from the obvious (carpet, curtains, wall paper removal, vent cleanings, etc...).  Is it possible to be rid of the stench?

Thanks!

@Dave Sanders

Welcome to the group man!  I'm a local guy - always happy to help.  Let me know what ya need!

The rental is in Fort Wayne?  Are you liking fit a property manager, or just a person on their own?

Any interest in selling?

Hey @Jeremy Tillotson - Thx for cluing me into this...I would have missed it entirely!

I'd LOVE to come!  I drove over to see @Ben Leybovich and @Brandon Turner last summer for Ben's all-day event. TOTALLY worth it, and I had a BLAST!  

It's pretty late in the evening though....I'll have to see what's shakin' that day.

As I recall, Ben's wife was CONSIDERABLY better looking than he was, and it would be nearly impossible for Brandon's wife not to be cuter than he is.  Maybe I'll grab my wife (who is FAR AND AWAY better looking than I am), and we can talk real estate while everyone just keeps thinking, "How'd those losers get with THOSE chicks?!?"