All Forum Posts by: Harry Williams

@J Scott Thanks for your reply. I am on the fence of whether or not to pay for quickbooks as this is my first project. With your experience in mind, would you suggest sticking to excel for now and upgrading to quickbooks down the road?

Do record expenses and organize receipts as they come in, at the end of the week or month? Currently, I am doing them in excel as they come in but this proves to eat up a lot of time, sporadically throughout the day. 

Couldn't agree more. Currently, I have been doing the record keeping myself. With one project, it's not too much. If I take on more projects I will have my CPA recommend a bookkeeper. Thanks! @Mitch Messer

I would expect 5 days per week. 

Shaun, I'm interested in knowing if you were tracking expenses throughout the project. Did you wait until the project was done to calculate the costs? I know it can be time-consuming but obviously crucial.

I am purchasing a house and funding the rehab and can be as hands off or on as I would like (I will be hands on). I have a partnered GC who is responsible for coordination and timeline, budgeting, sub-contractor hiring and management etc. What are investor best practices regarding managing the GC?

Hypothetically speaking. 3.9% interest rate. What would be your move to generate the biggest return?

@Paul Allen @Salman Abdulrahman @Daniel Sitler Thanks for the responses. The general concern is regarding taxes. Just want to make sure all is in line, playing by rules.

Single member LLC, income is expected to be taxed as ordinary income. Started a business credit card with the name of my LLC but did not provide my EIN as it wasn't required. My SSN is tied to my EIN, obviously. Will this be an issue?

@Audrey Ezeh My personal CC get's me the Delta sky lounge access that the Reserve would get me, so the $450/yr fee vs. the delta platinum skymiles$195/yr fee isn't advantageous. I went with the delta platinum skymiles.