All Forum Posts by: Tony Davis

Hi, @Tony Davis! This all depends on what your business looks like. Different business activities, number of accounts, number of transactions, number of entities, number of properties, partnerships, just bookkeeping or add-on advisory services, etc etc.

95%+ of the transactions that flow through a real estate investor's bank and credit card accounts have to be coded to a specific property within a specific entity. Flip property transactions are coded differently than rental property transactions. Every HUD statement and property management statement has to be manually "translated" onto your books. Every loan payment has to be split between principal, interest, and escrow (if applicable). There's a ton of manual journal entries involved on a monthly basis.

That being said, $100/mo to maintain a REI's books is too good to be true. You get what you pay for in the financial industry just like most other industries.

I would go with a reputable, real estate investing-savvy service from the get-go to avoid a large clean-up job in the future.

Hope this helps!

What ver you two negotiate. Depends on who found the deal and how much work each party put into it. I pay 1% 

Almost no deals already listed on the market are going to be open to creative financing. I can't really tell if you have experience, but my guess would be you do not and are using things people told you to do in order to get a deal for low or no money down. If I had a first-time investor ask me to check on an MLS property for creative financing just because it was 4 months old, I wouldn't work with them because I would think they don't have the money for a traditional down payment and would be a lot of work for very little opportunity. That's more likely what is happening. A realtor has no obligation to present verbal "offers" when not backed by consideration and verbal offers are tantamount to nothing anyway.