All Forum Posts by: Rachel Mazzanti

 thank u but i heard cpa have better credentials 

What software is everyone using for job costing on flips? I know quick books will work but I was curious if there is something out there that already has all the detailed costs input where I would only need to add the basics about the property. My accountant and bookkeeper have been dropping the ball and just seeing if there are sofware options available I may not be aware of. 

Hi everyone,

I appreciate the time taken by everybody to respond.

Apologies if I was not clear enough with what I am in search of.

Essentially, I would like to find somebody to work with ‘one on one’ on how my property is performing.

I would like to have a third-party consultant get into my personal specifics/goals/situations and 'the numbers' associated with my property.

I would like to analyze things like ROE, IRR, my projections for the future and how this all fits in fiscally to my 10-year plan.

I am happy with how I have things set up with the house currently.

But an impartial, 3rd party perspective is something that would be valuable to me.

It’s not always easy to take a 40,000-foot arial view at your own situation.

So, essentially, I am searching for a recommendation for a consultant that would break down my property with me and discuss whether I should sell it, keep it, discuss the numbers and how they look both short and long term.

My Question:

Does anybody have any recommendations for a professional consultant they have ALREADY worked with that can provide the services/expertise outlined above?

Thanking everybody in advance for any recommendations provided.

I am looking for an Accountant / CPA who can assist me with best practices as it relates to organizing my real estate business from a tracking/finance perspective. (what to do and what not to do) as I am buying in my name for now. Someone who would be open to sharing their experience with the correct way to organize finances for my portfolio. I am also seeking ongoing Tax planning and will need personal / business tax filing, eventually moving to an LLC. 

(Expense/Income) best practices - I am currently using spread sheets and do a good job of tracking dates/invoices..etc. 

If anyone has contacts / or offers these services, Let's connect as I would like to learn more. 

I do own a rental and plan on scaling! I live in CA and have rentals in Ohio. 

-Bret 

Hello, 

Does anyone have any good CPA recommendations in Chicago?

I use 1-800 accountant today, but want to switch over to Quickbooks and then work with a local CPA. 

Any recommendations would be appreciated. 

Hello, My husband and I are starting a property management company in the Jupiter, FL area. We have one owner and one tenant so far and we are currently setting up Buildium. I am just curious how most structure their payment process when receiving and paying rental payments, vender payments, etc. We do have a business checking and savings account setup, but do all rental payments go into the same account generally? I am wondering if some of you get the owners account info to setup in the software to have their rental payments go directly in and vender payments coming directly out? Or is it necessary to receive rental payments and pay vender payments out of our property management account?

I am interested in buying a two family house using seller financing. Any advice about how to find a list of deals?

Hey BP!

I'm diving into QuickBooks Online for the first time and could use some guidance. To give you a bit of background, I know very little about bookkeeping beyond managing my budget for the last three decades (ugh), so this is all pretty new to me.

Here’s my current setup:

I’ve had a property management company using AppFolio to handle the heavy lifting – rent collection, owner distributions, expenses, and the whole shebang. They give me an Owner Statement each month with all the details like Beginning Balance, Cash In, Cash Out, Owner Disbursements, Ending Cash Balance, Property Reserve, and Net Owner Funds.

It's super helpful, but it doesn't cover all expenses, and I need to get all this info into QuickBooks. I have a checking account and a credit card under my LLC. The loan for my property is in my name, but the deed is in the LLC. While I only have one LLC right now, I plan to expand to multiple LLCs (one for each property).

Here’s where I need your help:

1. How should I set up my account to reflect all the real estate activities like rental income, expenses, and distributions?
2. My Owner Disbursements aren’t the total rent amount because of the expenses the property management company handles. What’s the best way to track this in QuickBooks?
3. Has anyone successfully integrated AppFolio reports with QuickBooks? If yes, how did you do it?
4. What’s the best way to set up QuickBooks to make handling multiple LLCs easier in the future?

Any advice, templates, or resources you can share would be greatly appreciated! Thanks a ton in advance for your help!