All Forum Posts by: Arty Fresh

real estate related / a financial statement I can provide to a bank when they require one in order to provide me with a loan

its an example of a financial statement that I was going to show to the book keeper so they have an example of what type of service I would like from them.

 I found a lot of people who will do it for $5-20. so going with the professional $5 from Pakistan. its $5 for 6hrs of work. so the 6 hours should cover the whole month. he's only going to receive my bank alert emails that I will forward to his emails and then he'll log it into the financial statement. each transaction should take like 2-3 minutes to put it in. 

so Mary what did you think of the financial statement in the link I provided? from Robert Kiyosaki 

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

@Mark S.

This is very helpful. What does "PITI" in front of mortgage mean?

@Aaron K.

But subscriptions are recurring every month so doesn’t that count as something to pay in the future

@Aaron K.

Ok great thank you. Expenses are now and one time only fee

Can liabilities also be my monthly recurring fees/subscriptions ?

I have been reading rich dad poor dad and he seems to separate expenses and liabilities into two different columns. I guess they are two different things ? For some reason I see them as the same thing since they both take money out from your pocket

But the way he has it set up is as follows

1. Income/cash flow

2. Expenses

3. Assets

4. Liabilities

So my goal is to acquire assets that generate cash flow so I can be financially free.

But anyhow what is the difference between 2 & 4 ?

sounds fair enough

I attached the letter that all the apartments received today. It says that they need to come inside all our apartments this week only to look around. I want to know what are they going to look for? they never done this before in the past 15 years I lived here.

should I hide any cash, credit cards or jewelry that is laying around the house and electronics as well that can possibly become stolen?

I am sure they are going to check everyones apartment to see if anyone is growing drugs, weapons, and what ever other illegal activities there could be going. I think this is a cover up scheme and possibly home invasion to ezzz drop on people.

what do you guys think