Baseline
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Baseline (by Nancy [IL]) Nov 28, 2023 5:15 PM
       Baseline (by Richard [MI]) Nov 28, 2023 5:54 PM
       Baseline (by Jim in O C [CA]) Nov 28, 2023 6:07 PM
       Baseline (by Nancy [IL]) Nov 28, 2023 6:39 PM
       Baseline (by Ray-N-Pa [PA]) Nov 28, 2023 8:21 PM
       Baseline (by Robin [WI]) Nov 28, 2023 8:46 PM
       Baseline (by WMH [NC]) Nov 28, 2023 9:28 PM
       Baseline (by MikeA [TX]) Nov 28, 2023 9:32 PM
       Baseline (by Ray-N-Pa [PA]) Nov 28, 2023 10:08 PM
       Baseline (by zero [IN]) Nov 29, 2023 8:05 AM
       Baseline (by S i d [MO]) Nov 29, 2023 10:28 AM


Baseline (by Nancy [IL]) Posted on: Nov 28, 2023 5:15 PM
Message:

Not ready to retire but taking on a business partner, our son. Yay! He's interested in a system more efficient than my paper and pencil. We are looking at Baseline. Anyone have any experience with Baseline? I had never heard of it and didn't see any reference to it on this site. --96.35.x.xx




Baseline (by Richard [MI]) Posted on: Nov 28, 2023 5:54 PM
Message:

As a backup, just in case something goes down for whatever reason, maybe get him used to doing it on paper. That way, he will still be able to do it no matter what happens. Systems crash and get hacked. --75.7.xx.xx




Baseline (by Jim in O C [CA]) Posted on: Nov 28, 2023 6:07 PM
Message:

Have a back up to any computer program. My computer crashed and i had to enter everything from my paper copies. --99.23.xxx.x




Baseline (by Nancy [IL]) Posted on: Nov 28, 2023 6:39 PM
Message:

I will definitely continue paper and pencil for for awhile. Was mostly interested if anyone had used it or knows anything about it. Thanks for the back up reminder.

--96.35.x.xx




Baseline (by Ray-N-Pa [PA]) Posted on: Nov 28, 2023 8:21 PM
Message:

I do like the idea of helping your son out

I would suggest you get a Disillusion agreement created and signed before you too much JV or combined programs. It is good that there an agreed upon path ahead of time that everyone can agree on BEFORE the deal when all parties are still happy with one another.

--24.101.xxx.xxx




Baseline (by Robin [WI]) Posted on: Nov 28, 2023 8:46 PM
Message:

I think Ray means "dissolution agreement." But disillusion agreement may be a better word for it! --65.28.xxx.xxx




Baseline (by WMH [NC]) Posted on: Nov 28, 2023 9:28 PM
Message:

We are using Buildium, as are a few others here. We combine it with Quicken desktop because that's what I know.

My son joined the business in 2023 - part-time - and is learning both my side (money and paper) and his dad's side (tenants and toilets.) --173.18.xx.xxx




Baseline (by MikeA [TX]) Posted on: Nov 28, 2023 9:32 PM
Message:

A quick internet search reveals that baseline is a software product used by hard money lenders to manage their business. If you lease properties and manage tenants, I would certainly ask some questions to make sure it does those features. I would bet it doesn't. --209.205.xxx.xx




Baseline (by Ray-N-Pa [PA]) Posted on: Nov 28, 2023 10:08 PM
Message:

Thanks Robin,

You have to love auto correct --24.101.xxx.xxx




Baseline (by zero [IN]) Posted on: Nov 29, 2023 8:05 AM
Message:

Congrats on getting the next generation involved! Neither of mine care for the biz, just the money.

We started using Innago. Checked into Builduium and Rentec Direct. More money for subscription than this small biz needed. Innago is free. We are using it for the ACH portion mostly. They charge the tenant $2. They send reminders via email as well. Just getting it started so not much info as of yet.

We use excel and store the file on a google drive. We make back ups and store on HDD and flash as well. --107.147.xx.xxx




Baseline (by S i d [MO]) Posted on: Nov 29, 2023 10:28 AM
Message:

Never tried Baseline. Just Buildium. I keep duplicate books in Quicken.

Regarding the partnership agreement. Every partnership needs a written agreement for how to handle the 7 "Ds".

Death

Divorce

Disability

Disinterest

Dissolution

Drug Addiction

Default

Not all of these may apply to your son now, but they could in the future, so it's best to address them all now. A competent business partnership attorney should have a boiler plate form that you can get filled out for a nominal cost.

Yes, some weighty topics to discuss there, but expensive legal messes are created, feelings get hurt, and relationships are destroyed when people fail to cover these bases. And even if you do cover them, some feelings and relationships might still get hurt, but at least you minimize the litigation costs.

--184.4.xx.xx





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