All Forum Posts by: Joey Burstyne

I'm always interested in hearing about better ways to do things, so I appreciate your insight, John. Would you mind sharing with me about how much you pay for Buildium and the key benefits to using it from your experience? Also, how was the initial set-up experience? I tried QuickBooks a year ago and it about drove me crazy...I'm no idiot, but I'm not an accountant nor great with software.

I'd really appreciate hearing more from you on this. Thanks, John!

Soh, I've got 41 units and still use Excel. I tried QB for about 3 weeks last January before I gave up on it...way too advanced for a part-time investor (and software/accounting novice), in my opinion. I'd love to see your spreadsheet you've created...I'd be happy to share mine as well for feedback. Please PM me. Thanks! Joey

I have separate Lowe's LAR cards for both, which is the only credit card I usually need...then I write checks out of each account or pay cash for everything else.

Like you, I have two LLCs (one mine, other 50/50 with biz partner), and I have separate bank accounts for both. Also like you, I've always used excel to manage the accounting...until now. I have 28 properties and decided to make the move to QuickBooks 2016 for Mac starting January 1st. My CPA assisted me in the set up and I was able to create separate accounts in QB for both LLCs. I've still got a lot of work and learning to do with it, but pleased so far. Most importantly, it will allow me to run reports and analyze my RE business in ways I never dreamed of before. Hope this is helpful.

Camron Cottam I've been a RE investor for over 5 years now and I hear this sort of negativity a lot...mostly from people who are uneducated regarding RE or are simply way too conservative or lazy to get in the game. The reality is, the more people who think this way means lesser competition for you and I! Think of it that way. This sort of negativity doesn't deter me, it inspires me to continue building wealth by doing what most others will not or cannot.

thx guys! Very helpful.

thanks guys! I am likely going to buy one of the tutorial books for landlords discussed in these forums (not sure which one yet), but also think your advice about hiring someone to set it up would be well worth the $150-$200...would likely save me lots of time and frustration! Next step is just figuring out who that person might be!

I recently purchased this software to manage the accounting for my two LLCs. One LLC is solely owned by me (9 houses) and the other is owned by myself and my business partner (18 houses), so I would like to keep the accounting for these two LLCs separate for tax and reporting purposes.

Can I set up these LLCs separately in QuickBooks or would I need to buy separate QuickBooks software for both?