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Updated over 5 years ago on . Most recent reply

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Arty Fresh
11
Votes |
42
Posts

is this financial statement layout acceptable to banks

Arty Fresh
Posted

what do you guys think of rich dads financial statement ? this one --> https://www.richdad.com/MediaL...

I was thinking of hiring a bookkeeper for $5-10 month to do all this for me and I can just send them my emails of my paycheck deposits and my email alerts for each transaction and save time by having someone else do it for me.

I understand that you do your own financial statement etc but at this point I rather just pay someone $5 to do it for me. its only 5 lol. but I want to give them an example to follow.

I want to receive monthly statements. what you guys think of everything listed in that one?

I have 0 assets at the moment but looking to change that soon by getting two rental properties. I have a bi-weekly check, expenses and liabilities (credit cards) that I am working on paying off.

do I have to tell the bookkeeper all my credit cards and the balance I owe on them? probably more likely correct?

what other info should I give to the book keeper

I am 33yr and just learned about a "financial statement" from reading rich dads/Robert Kiyosaki books. where he says how he goes to a bank and ask for a 10-20million dollar loan and provides the financial statement, then he gets 20 million loan/debt to invest in real estate and then pays back the bank and himself. I want to achieve that type of level. I am at the bottom now. but want to work hard to do the something Robert Kiyosaki did

Most Popular Reply

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2,885
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Mary M.
  • Rental Property Investor
  • Portland OR
3,370
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2,885
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Mary M.
  • Rental Property Investor
  • Portland OR
Replied

What a bank requires will be dependent on what you are financing. 

They may need financials specific to a property and usually a personal financial statement which you can do yourself - just look on google for examples. 

This is why it is better to use someone that understands your business - so IMO ask your cpa for a local person to help you.  

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