Accounting! Outsource it!

[Account Closed]

Guys! 

If you are just starting out---- build your team!!!! And most importantly- hire a dang accountant! As you grow and grow BRRR or doing whatever bs strategy you are doing make sure to keep detailed and accurate accounting for your properties, depreciation schedules, expenses etc! Do not rely solely on your PM- they are not CPA's! PM's only issue cashflow reports etc, not depreciation schedules! Build to Grow!

Don't ask me how I learned this... unless you want me to kick my neighbors Cat tonight! Best, Benjamin 

[Simon W.]

WOOT WOOT! Awesome post. 

One point to post out, Not all CPAs have real estate experience. CPAs won't do your daily operations accounting. Get a local or a virtual accountant to be your "in-house" accounting department.