This was a fantastic DIY landlord video. Thank you so much, Ashley! My takeaway was the part about having multiple lenders on hand. I would love to see a more in-depth video about your "unit information sheet." That would be so helpful in so many ways.
Happy New Year Ashley and BP Rookie community. This was a great video with incredible information. I would love to see a video on Unit Information Sheet. Thanks in advance!
Hey Ken! For the appliance data we do what @soflaceo8690 suggested and that is take a picture of the serial/model info and the exterior of appliance to save to the property folder (either in the pm software or the google drive folder). The information we want for each appliance is the following: Type of fixed asset, how its powered (i.e.gas or electric), make, model number, model year, serial number, cost, color, date placed in unit, any warranty information, and what unit it is in.
yes, please a detailed version of this video would be fantastic, especially "Unit Information Sheet" and how to screen the vendors (as opposed to learning a costly mistake when the vendor screws things up)
Oh my God I love this so much every time you talk about your processes and Systems from the first time I watched you on the BiggerPockets, but yes, you are so amazing my team and I have to implement these things effective immediately
Hey guys, I love your podcast! I listen to it every day, and when there isn’t a new episode, I go back and rewatch the older ones. I just wanted to let you know that I’ve been trying to find videos where you analyze a duplex for a family of four. Every time I search for similar content, it’s always about a single person renting out rooms, which makes sense. However, I haven’t come across any videos where you analyze a duplex purchase for a family of four-buying the duplex, renting out the other unit, and either breaking even or achieving apositive cash flow. Especially for families who are trying to get involved in real estate, already have kids, and are still renting while looking to use an FHA loan or a conventional loan. It would be great if you could create a video on this! Thanks!
Wishing great success to you entering into the world of apartment renting! I come from decades of working at the large, national and statewide Property Management organizations (overseeing the 300 unit / 500 unit apartment communities)…I teach small landlords all the tips and business practices that we train our leasing agents on over at that side of the industry. Class topics include fair housing, marketing and leasing, application processing procedures, leasing safety protocol, proper documentation practices to minimize fair housing issues, resident retention ideas, and more.
In the meantime post in our Real Estate Rookie Facebook group to ask the Rookie Community if they have had any experience doing this strategy. You should be able to get a lot of feedback from the amazing members!
I think this is great . But it would be a lot more helpful to mention who you are currently using for software, or at least the top 3 you would recommend looking into
Of course! 1-50 units Turbo tenant or Rentredi. 30 -500 units Buildium and then anything over 100 Appfolio. Buildium and Appfolio have minimum monthly payments that don't make sense unless you have a large portfolio.
This actually can be done right through quickbooks if your bank allows it. If you connect your bank account most times quickbooks can automatically pull your statements. I have two banks this works with and one it doesnt. You also have to have the online version of quickbooks.
But then you have two phones to carry around! I actually did this in beginning of being a pm. Every one thought i had to phones because one was for illegal activity haha. I did like the physical second phone for adding all unit pictures and keeping all my work data separate from my personal data. As in pictures of properties weren't mixed in with pictures of my kids.
This was a fantastic DIY landlord video. Thank you so much, Ashley! My takeaway was the part about having multiple lenders on hand.
I would love to see a more in-depth video about your "unit information sheet." That would be so helpful in so many ways.
Thank you so much for sharing your takeaway! I'll work on that video for you!
Happy New Year Ashley and BP Rookie community. This was a great video with incredible information. I would love to see a video on Unit Information Sheet. Thanks in advance!
A unit information sheet sounds great. I'd like to see a video that shares your example for recording appliance data by unit.
I would add taking pictures of the appliance and the serial / model numbers to archive in your google drive;
Hey Ken! For the appliance data we do what @soflaceo8690 suggested and that is take a picture of the serial/model info and the exterior of appliance to save to the property folder (either in the pm software or the google drive folder). The information we want for each appliance is the following: Type of fixed asset, how its powered (i.e.gas or electric), make, model number, model year, serial number, cost, color, date placed in unit, any warranty information, and what unit it is in.
You make it sound so easy. 😂
yes, please a detailed version of this video would be fantastic, especially "Unit Information Sheet" and how to screen the vendors (as opposed to learning a costly mistake when the vendor screws things up)
I am going to put a video together on that!
I would 100% love to see your unit maintenance sheet or hear a podcast on that!!
Oh my God I love this so much every time you talk about your processes and Systems from the first time I watched you on the BiggerPockets, but yes, you are so amazing my team and I have to implement these things effective immediately
I loved this comment just as much!
Great video. Lots of great info. Thanks
Thank you for watching!
Thank you so much for this video, starting my real estate investor journey, and this is so much insightful!
So glad to hear that and welcome to the Rookie Community!
Hey guys, I love your podcast! I listen to it every day, and when there isn’t a new episode, I go back and rewatch the older ones. I just wanted to let you know that I’ve been trying to find videos where you analyze a duplex for a family of four. Every time I search for similar content, it’s always about a single person renting out rooms, which makes sense. However, I haven’t come across any videos where you analyze a duplex purchase for a family of four-buying the duplex, renting out the other unit, and either breaking even or achieving apositive cash flow. Especially for families who are trying to get involved in real estate, already have kids, and are still renting while looking to use an FHA loan or a conventional loan. It would be great if you could create a video on this! Thanks!
Wishing great success to you entering into the world of apartment renting! I come from decades of working at the large, national and statewide Property Management organizations (overseeing the 300 unit / 500 unit apartment communities)…I teach small landlords all the tips and business practices that we train our leasing agents on over at that side of the industry. Class topics include fair housing, marketing and leasing, application processing procedures, leasing safety protocol, proper documentation practices to minimize fair housing issues, resident retention ideas, and more.
In the meantime post in our Real Estate Rookie Facebook group to ask the Rookie Community if they have had any experience doing this strategy. You should be able to get a lot of feedback from the amazing members!
Would love the unit information sheet video! Fantastic, thank you!
I'll work on creating that!
Thank You Ashley you the best.
And so are you Richard!!
I think this is great . But it would be a lot more helpful to mention who you are currently using for software, or at least the top 3 you would recommend looking into
Of course! 1-50 units Turbo tenant or Rentredi. 30 -500 units Buildium and then anything over 100 Appfolio. Buildium and Appfolio have minimum monthly payments that don't make sense unless you have a large portfolio.
Thanks for the cintent Ashley, I would really appreciate the opportunity to check out your "unit maitenance sheet" if possible
You got it!
I would love a deep dive for the unit information sheet 😊
Okay, I will work on a video for that!
Can you share what softwares you use/ recommend for property management?
Yes! For small portfolios I like Rentredi and TurboTenant. For mid size or large portfolios I like Buildium or Appfolio.
If you are already a BiggerPocket's pro member you get access to Rentredi! app.rentredi.com/loginWith/BiggerPockets?BP_A_LL-R&BestCS
Amazing, I didn't know a virtual mailbox was possible. Which services can you recommend?
Post scan mail is the one that Ashley uses! There are others such as Postal1 and Anytime Mailbox.
Can we get a video about the unit information sheet
Yes!!
Which software you use
Booking I use quick book
I have 24 units
do you have a spreadsheet on the unit info sheetthat you cold share?
Interested in the list
Do you know of a software or tech tool, that’ll automatically upload all your statements to the “QuickBooks“ platform ?
This actually can be done right through quickbooks if your bank allows it. If you connect your bank account most times quickbooks can automatically pull your statements. I have two banks this works with and one it doesnt. You also have to have the online version of quickbooks.
Just buy a simple phone with a cheap subscription for your work phone. Easy peasy :P
But then you have two phones to carry around! I actually did this in beginning of being a pm. Every one thought i had to phones because one was for illegal activity haha. I did like the physical second phone for adding all unit pictures and keeping all my work data separate from my personal data. As in pictures of properties weren't mixed in with pictures of my kids.
@@wealthfromrentals Then have a phone with 2 sims. Most modern phones can do that :P
@@dennisoestermann1880 Ok now you really have me thinking!