All Forum Posts by: Bryan Hylenski

Yes, this includes my own living space. It's a 5 bedroom 5 bath house. One wing has a main room and small office, that is the living space for my wife and I.  the other rooms in the other wing is the B&B.   I have started looking for lenders, but they all require me to fill out applicatiions with business info, but I don't own the business now, the seller does. Is there a particular type of lender I should look for?  Is it better to finance thru the seller or a bank?

Hello All,

I have found my dream property and investment. It's a small B&B, that has positive cash flow and has opened their books to us, everything looks great and we would live on the property and run the business.  But, I have only every worked in residential mortgages.  My business owns 4 other properties, but these are passive income rentals. 

This business would be purchased Turnkey style, they are fully operatiional and net approximately 60,000$ a year.  The property costs 700K.  I have 20% to put down, but I don't know how to secure the rest of the financing thru a lender.   The owner is also willing to help with some of the financing, but since I will be buying the property, don't i have to finance 100% of the property thru a lender or can I do some thru a bank and some privately thru the current owner.

Can someone point me in the right direction? Help me ask the right questions, etc.

Well, everyone in case your curious. I chose Nancy's book and I am up and running less then 48 hours later. Not only was her book spot on, but when I had questions she was there to answer them.  I never used quickbooks 48 hours ago and now I have 4 properties setup and all of my bank accounts reconciled, invoices setup and even security deposits from past years up to date and ready to go! Well done on the Book! I never tried the other, it may be great as well, but this was exactly what I needed!  Good luck to anyone who wants to learn QuickBooks without Nancy! I sure wouldn't want to do it!

Ryan, is it updated for 2014 and 2015 quickbooks. I'm using the 2015 version. Nancy's is updated, but I'm not sure if landlord accounting is?

Hello All,

I've read thru this thread and could really use some advice on choosing which book would be most helpful. Nancy's site looks informative and her books are updated.  While landlord accounting seems to be talked a lot about in positive and negative ways. I would love to know which one is best for my situation.

I own 4 homes and currently have them all in their own LLC's with a management company acting as the operating company. I have lived overseas for the last 5 years and have been doing this all via spreadsheets. Now I need to learn quickbooks, as we will be purchasing a few more homes and units in the coming weeks/months. I have QB Accounting 2015. So, with the basics here, which book would get me up and running as quick as possible as well as with a solid foundation so I can grow...I really like the feel of Nancy's site and how she updates it every year. But Landlord accounting seems to have so many people supporting it...what would you recommend and why. I'm giving myself 24 hours to decide, then I've just got to get to work on this. Do they both teach the same strategies with setup, or are they completely different?

Thank you!!!