30 July 2020 | 1 reply
This is my version year to year and I would appreciate any feedback.Overview: - End Goal: 100 tenants and thrive with FIRE so I can spend more time with my Son-Strategy: BRRR House Hack - Use Multifamily Properties and buy Apartment buildings- Financing: FHA LoansYear 1: Knowledge and Resources-Obtain 3.5% down payment ($10,500 of 300,000) from job (UPS)-Gather knowledge: Read/Listen to Real estate books, Listen to Podcasts, Look at properties and practice 2% test and math-Build the real estate Dream Team -Big 5: Real Estate Agent, Lender, Contractor, CPA, Lawyer -Bookkeeper (Optional), Insurance Agent, Property Manager (Optional at first)-Give team a better nameYear 2: Buy-Buy First Property (3-4) units that need simple cosmetic repairs and force equity-Move in (house hack) and rent out other units.
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4 June 2019 | 36 replies
However, if you're in growth mode and planning on picking up more properties, it's not a bad idea to get into good bookkeeping habits now.
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11 September 2023 | 4 replies
We are always looking for more investor friendly accountants bookkeepers to work with.
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23 January 2021 | 3 replies
Bookkeepers can also help with maintaining your books as an investor.
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16 July 2022 | 4 replies
Please double check my thinking to be sure I've got it right. I'm setting up a syndicate for apartment purchase. The amount needed for the 25% equity and closing costs will be $550,000. There will be $50,000 needed to...
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25 March 2021 | 21 replies
But you can also have a good bookkeeping software to keep track of all expenses.
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29 November 2020 | 4 replies
Depending on how you are doing your bookkeeping, I'd say make "accounts" in your system so that you can get whatever metrics you want.
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27 March 2020 | 6 replies
Decisions that balance your risk tolerance against possible profits (or losses).The math is a grain of sand on the beach.If you are not good at record keeping use a book keeper in addition to a CPA.And this video outlines something very important to know also: https://www.youtube.com/watch?
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2 August 2020 | 5 replies
Offer to review documents, bookkeep, general research, etc.