Help!!! I have created an accounting nightmare.

[Dustin S.]

I have been investing in real estate for 11 years now and have 11 rental properties. I didn't listen to the advice in rich dad poor dad to hire a book keeper early when things are small. Now I am paying the price. Tax time is a nightmare. I have 7 property managers, 8 different mortgage companies and 1 to 3 rehabs a year I am going to loose my mind. I have been trying to stream line and organize everything I can but it still seems like a huge chore and I want to focus my mind on growing. I have interviewed several books keepers both local and virtual assistants. It seems that amount of bookkeeping work I have is too small for larger firms. The smaller guys just don't seem reliable and I am worried about my personal info getting into the wrong hands. Any suggestions or recommendations would be much appreciated as I don't think I can survive another tax season like this.

[Nathan Gesner]

Your property managers should already be tracking your income and expenses. All you need is a CPA to piece things together. I have 20 units. My bookkeeping is handled by the Property Manager's software and I just hand everything over to my CPA. My CPA also educated me on how to keep records, what to turn in, changes to the law, etc.