All Forum Posts by: Christian Malesic

Question 2: This is a complicated Journal entry. First, you must classify each expense from the HUD-1 as to whether they are a "Loan Acquistion Cost" or not. IOW, if you were to pay hard cash (from a savings account), would you incur this fee? Some examples are:
- Loan Origination fee
- Bank Charge
- Appraisal
- Flood Certification
- Mortgage Recording fee with county, etc.

These all get combined and put under Loan Acq.

Then the entry would look something like this (C for Credit, D for Debit):

Building D
Land D
Loan Acq Costs D
County Tax D
School Tax D
City Tax D
Water & sewage C
Checking (Certified Check Fee) C
Checking (Cash at Settlement) C
Mortgages Payable C
Easnest Deposits C
Sec Dep Held C
Rental Income C

This is not really an "off Topic" post. It may serve better in "General Investing" forum.

We use QB Pro 2009. You ask 3 very complicated questions. I must assume you know your GAAP to answer, else your accountant should give you the journal entries.

Are you 'the buyer' or 'the seller' for question 1. I assume the buyer, but the wording of the question gives me pause.

This is more of a "Why We Do Not Think & Act Differently" then it is a "How to..."

I am expecting a Part II.

You have my attention.

I haven't gone to 'work' in a long time. I go to 'play' everyday. That is not to say I am retired, I just really enjoy my life and what I do each day.

Thus, "if I got rich" I would keep doing the same thing.

Not to go all philosophical on you, but I have never believed 'rich' or 'successful' to be defined by the amount of money in my pocket or bank account. To me it is family, health, happiness, and enjoying what one does.

And... how did you end up here?

However it was: Welcome

Most of us have found this site to be better than any book. Rarely do books debate within their own pages, though we do that here every day.

Dig in.

All of our buildings are multi-family (2-3 units). We mow all of our lawns every other week.

This also forces us to go by the property and have a look around - on the outside.

Hello David.

Welcome to BiggerPockets.

How did you hear about us?

Tell us a little about yourself.

Without giving us an advertisment, which is prohibited on this site (unless you pay for one, of course), please tell us what land listing sites are in general.

Kiwi,

I, too, am (partly) of Polish origin. Like a typical American, I am a mix of nationalities. Both of my grandparents on my mother's side came from Poland, making me 50% Polish.

What took you to New Zealand?

Shayne,

We are glad you found us. We are not the place to promote your site, but we are certainly the place to learn how to promote it better. Check out the various forums. In many cases your questions have already been answered in back posts.

Happy hunting!