
14 January 2025 | 7 replies
@Brice Alef-Torrisi To manage finances for multiple properties, maintain separate bank accounts for each property if held under different LLCs to avoid commingling, which could jeopardize liability protection and complicate tax deductions.If properties are under one LLC, using a single account is fine but requires detailed record-keeping for each property.

14 January 2025 | 8 replies
Buildim has a general ledger so you can record credit card transactions the same as in any other bookkeeping software 1- add to chart of accounts a current liability called for example capital one credit card2- when you want to record a credit card transaction go to general ledger create a journal entry, for example if you swiped your card for a maintenance expense in the amount of 1,000 youshould debit maintenance 1,000 and credit your liability account called capital one credit card for 1,000so your liability account balnce is always the same amount as your credit card balance 3- if you pay intrest on your credit card add to charts of accounts an expense account called capital one intrest fees and when you got charged intrest create a journal entry debiting capital one intrest expense account and crediting your liability account 4- to record a payment to your credit card you can record a check from your bank account payable to capital one you should add them as a vendor or you can do a journal entry It simple for anyone with a little bookeeping knowledge and btw thats how its also done in quickbooks or anywhere else And thats the correct way doing it although there are a few other workaround ways for exemple creating a contra asset or as paying a vendor So i dont know why you blame buildium it would be the same with any other software

15 January 2025 | 2 replies
Your brokerage is required to supervise you, and maintain all records of the transaction, just like any other client.

25 January 2025 | 12 replies
I just like to keep the record straight.

14 January 2025 | 3 replies
Right now, you may be looking at it as scalable, but assembling a team without a track record is hard because some may end up being leeches.

30 January 2025 | 24 replies
Hopefully kept good records of improvements / anything to increase the basis2.

14 January 2025 | 5 replies
However, it’s important to ensure that the deed is properly recorded with the county recorder’s office to make the transfer official.

2 February 2025 | 20 replies
It does not appear that many newbies (or experienced) investors are buying much (transaction levels are at record lows).

15 January 2025 | 8 replies
Not only that most of ours we saved within 1 to 3 days of the sale so it was hair on fire getting the reinstatement back to the trustee.. total risk on our part.. give the seller some money we always did.. and then record the deed WE did our own deeds in house.. buy without title insurance etc etc.

23 January 2025 | 26 replies
Making money in real estate requires experience and starting with no or little money makes you study harder.As much as most of us probably wished for it, getting started with a lot of money in your pocket is a recipe for disaster: the temptation is to make the deal work by throwing money at it.If you want to go into real estate go with a syndicator with a good track record.