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All Forum Posts by: Cliff Benner

Cliff Benner has started 12 posts and replied 270 times.

Post: Real Estate / business Accountant

Cliff Benner
Tax & Financial Services
Pro Member
Posted
  • Accountant
  • Denver, CO
  • Posts 272
  • Votes 137

@Juan Serrano have you been able to find someone or are you still looking? 

I would be interested in helping you out, if you are still looking. Feel free to check out my website for more information, bennerstride.com.

Post: Looking for Bookkeeper / Accountant for our Small Business

Cliff Benner
Tax & Financial Services
Pro Member
Posted
  • Accountant
  • Denver, CO
  • Posts 272
  • Votes 137

@Alain Haug Have you been able to find someone?

I would be interested in helping you out as your bookkeeper, but this was three months ago so I understand if you found someone already.

If you are interested please check out my website at BennerStride.com 

Post: Is investing in a partnership preferrable? What are some things to look out for?

Cliff Benner
Tax & Financial Services
Pro Member
Posted
  • Accountant
  • Denver, CO
  • Posts 272
  • Votes 137
Quote from @Conner Olsen:
Quote from @Andrew Fudge:

Hello BP Community!

I recently got to come to an agreement with a friend to create a partnership to allow us to more easily invest. I wanted to reach out and ask if a partnership has any unforeseen problems that could arise? My partner and I have very good communication and are on the same page when it comes to investing strategies, so we both assume this is a great path to follow. Will a partnership cause variations in the route we would take to finance a property? As in, would a bank treat us differently as a partnership rather than just a singular person? Also in terms of financing, if one party is funding more than another, is there a way to dictate that when closing a deal? I just had these questions running my mind while trying to formulate a good partnership agreement for us, and wanted to try at least hearing from others before I finished!

To follow that up, when going through the process of our first deal, would it be smarter to open a new line of credit or checking between the two of us? I know this sounds like a ridiculously "google-able" question, however I'm asking here because google doesn't have the human touch to it's answers! What does including extra investors add to the workload? Is it smarter to onboard whatever investors you have prior to acquiring the property or is it safe to still gather investors in to the first few months of owning a property?

Last question, I promise! Are there any recommended softwares or websites for virtually tracking investments, income/expenses, etc. It's completely fine if those aren't recommended as well, I just need a quick way to for my partner and I to have access to the property data without crunching tons of numbers.

Thank you for your time and help,

Andrew


 I don't know about the lending side. I suggest opening a business bank account and tracking all transactions through there, until things get complicated and then branching out to a software.


 Definitely get a business bank account, I use Relay for 2 out of three of my businesses and will one day get all my businesses moved to Relay. It is very helpful and has the ability to send checks for your for free.

But I suggest having a Bookkeeping software rather then Excel. It will be very important to track Equity and all expenses properly. For my Bookkeeping clients I suggest QuickBooks Online and we set them up with a Box Account to save all paperwork. I will be researching a Ledger Software made for Real Estate more but QBO is very versatile for all business types to start with.

Post: Seller/Owner Financing -- Spreadsheet and Presentation

Cliff Benner
Tax & Financial Services
Pro Member
Posted
  • Accountant
  • Denver, CO
  • Posts 272
  • Votes 137

@David Jorgensen

I put one together with three different seller financed options when I was purchasing my candle business back in May.

It really helped to show the seller the interest they will get, payment, and balloon payment.

Our third option was a step up payment too so they saw that every 12 months we increase the monthly payment too and with our conversation we brought up inflation and that helped to show we were going to keep up with it too.

Post: Pocono Mountain Real Estate Agent Needed

Cliff Benner
Tax & Financial Services
Pro Member
Posted
  • Accountant
  • Denver, CO
  • Posts 272
  • Votes 137

@Tyler Winget if I am not mistaken, aren't you in the Pocono area?

Post: Sourcing a loan for my flip

Cliff Benner
Tax & Financial Services
Pro Member
Posted
  • Accountant
  • Denver, CO
  • Posts 272
  • Votes 137

What kind of Loan have you found for just the repairs?

Post: Buy land to rent to RV’s

Cliff Benner
Tax & Financial Services
Pro Member
Posted
  • Accountant
  • Denver, CO
  • Posts 272
  • Votes 137

@Michelle Verdugo Following. I have been slowly researching more and more on my little free time.

I have been watching on Youtube a bit for those same exact items. Keep It Tiny has lots of info on Zoning and permitting, DEN touches on it, Robuilt has some info, airbnbgirllaura has some info as well. 

Then looks into it a bit more, I would start with looking at a County Zoning requirements, start with short term rentals and camping info they have, then go to the zones and do your best to link them up. Then I hear you call that Counties planning division with your researched info and tell them what you want to do and how it will benefit that County to see if it would work.

I would love to hear how this goes for you!

Post: Bank accounts for multiple LLCs

Cliff Benner
Tax & Financial Services
Pro Member
Posted
  • Accountant
  • Denver, CO
  • Posts 272
  • Votes 137

I agree with Relay, it is friendly and easy to pay from the account with no fees.

Post: Thoughts on Dave Ramsey?

Cliff Benner
Tax & Financial Services
Pro Member
Posted
  • Accountant
  • Denver, CO
  • Posts 272
  • Votes 137

@Jeremiah Dunakin DO IT!!! 

Post: Thoughts on Dave Ramsey?

Cliff Benner
Tax & Financial Services
Pro Member
Posted
  • Accountant
  • Denver, CO
  • Posts 272
  • Votes 137

 @Jeremiah Dunakin Thanks!