All Forum Posts by: Gary Pilkington

Elk Grove is growing and has been/continues to be good.

For appreciation, single family have been better than multi though.

I'm looking for recommendations for a CPA who is familiar and comfortable with real estate investing as well as business entities preferably in the north eastern Sacramento County area (Fair Oaks, Orangevale, Folsom etc.). 

If anyone has someone they are happy with please let me know. 

Thank you.

I'm looking for recommendations for a CPA/tax professional who is familiar and comfortable with real estate investing as well as business entities preferably in the north eastern Sacramento County area (Fair Oaks, Orangevale, Folsom etc.). 

If anyone has someone they are happy with please let me know. 

Thank you.

(Since you asked specifically about bookkeeping) For us, we use one tool for rent collection only (currently apartments.com because of the cozy acquisition) and another (QuickBooks online) for keeping the business books. Two reasons for separating the two (for us) - 1 it’s an actual bookkeeping system - we track more than just rental properties and includes better reporting, invoicing and bill paying for all our needs and 2 our accountant can go in, get what he needs for taxes and lets us know when they are done.

@John Matarazzo Very good. Thanks for sharing. I've only ever used Cozy (which migrated to Apartments.com) and my needs are basic. Sounds like it will do the job. I'm also intrigued by the maintenance option which can be initiated by tenant or landlord.

@John Matarazzo, would you mind replying back once you have decided? I'm looking at Avail as well and would like to know how it worked for you. Thanks.

I've seen Azibo and was considering Turbo Tenant until I saw this:
https://www.capterra.com/renta...
Compares Turbo Tenant to Avail

I think this is only the beginning of this and soon, it wont matter how you receive the money. If you receive the income, you should have a way to offset the income with expenses or, its just (taxable) income.

For me personally, this is one reason I keep my rental properties in a separate entity (a Family Limited Partnership in my case) with separate bookkeeping, checking accounts and expenses to offset the income. This is just how I do it and it keeps everything separate and clean.

I'm on Apartments.com due to the purchase of Cozy. Currently looking at other options.

Take a look at this:
https://www.capterra.com/real-...
for information about what's out there.
I'm currently leaning towards Avail

@Karen O.

Thank you for the info. I would have thought that the official EIN assignment form from the IRS would be the correct Full Legal name but, by dropping the "LP" it worked. Very Clunky.