I am a disaster with the financial accounting for investing

[Courtney Oldrin]

Hello from cold and windy mid-coast Maine!

I'm a newbie in the landlording business and I desperately need help figuring out how to set up a system to track the finances for the properties we have.  My strength is identifying great fixer upper properties, scooping them up and rehabbing them.  I now own one commercial property and 4 residential properties -- all rented by GREAT tenants, but I have no clue how to handle the finances for them.  There's a zillion articles on how much money you can save through deductions etc, but I have no idea how to track this stuff or what to track.   I have a lot of financial insecurity and IMHO I suck at budgeting.  

The articles, podcast hosts and guests make it seem like ya'll were born with innate knowledge on and love of forecasting financial goals, building and employing sophisticated processes to collect data and analyze results and are all financially brilliant. And I am a financial knucklehead.

Would love recommendations for coaches, classes, mentors (human assistance may help stop my self doubt), software programs, how you have set up your systems, step by step guidance, anything.  I have an excellent long time personal accountant -- but I have tracked nothing this year in terms of my expenses, because I dont know what to track or how to track it.  And i dont think he's the guy who can help me learn how to account for my finances and budget.  

And I just passed my real estate exam -- so I'm going to pivot my career to a long time passion. So I'll be self employed...

I am so grateful for BP - because I am pulling my head out of the sand, swallowing my pride and throw out an SOS.   eeeekkkkk!

Courtney

[Daniel Hyman]

@Courtney Oldrin

It sounds to me like you need some coaching on bookkeeping and taxes. Most newbies could benefit greatly from an hour or two from a CPA that can set you up on a DIY system and be there for you for tax time.