All Forum Posts by: Channing Brand

below market value + value add opp. has to be both

Due To/From accounts as assets/liabilites on the balance sheet.

Glamping sounds like it can be easily done here

I agree with @Joe Splitrock that depreciation is not just a blessing. The recapture of the depreciation on the sale of the property as a gain (unless a 1031 is done) is something most investors do not consider.

@Jeff Cantrell It is really about how well your non-cash period expenses are maximized. Most users on here already mentioned depreciation and amortization, that is the best example of noncash expenses. 

A cash out refinance to implement the mortgage interest (which is deductible) will provide another expense but is certainly a cash transaction so dollars leave your pocket for that deduction.

Hi @David Calixte:

If you are already knowledgeable of the industry and have a good grasp on real estate, using a course like CEshop would eliminate the need to commute to a course somewhere in Atlanta. @Brenden Mitchum made a good point about the value in getting the license if you aren't going to be doing any type of deals with it. 

Shooters shoot. Do your thing.

In your position, I believe it is less about the software and more about the systems you have in place to properly record activity. I have seen equally butchered Excel spreadsheets and QuickBooks files that make it challenging to take a third-person view of your financial snapshot. 

As a CPA, I can do more with a QuickBooks file than an Excel file, in theory. This is simply because I can examine documented transactions and make necessary capitalization & depreciation adjustments, then send you an adjusted copy. I don't know what I don't know in an Excel "cell" and must ask questions on any unusual numbers. However, with one property it is simple enough to communicate that with your CPA and Excel should work just fine.   

For deals on multi-family properties in Atlanta, the best bet is to work with a local realtor that have off-market connections. Inventory is low in Atlanta and multi-family properties are few and far between on MLS or Zillow.

Is the $200k net of capital gains taxes?