
17 January 2025 | 3 replies
Just know that it is a "no days off" kind of business and very mechanical.I would suggest documenting your process via video so that eventually you can bring people on to replace the different hats you will be wearing.Keep in mind of these 5 components of any wholesale business.lead generation, deal sourcing, underwriting, marketing, transaction coordination.

13 January 2025 | 1 reply
This transaction highlights our ability to identify and execute quick, profitable deals with minimal holding time.

14 January 2025 | 28 replies
I remember spending entire weekends crunching numbers, gathering receipts from random shoeboxes and backtracking through countless transactions in my bank account.

22 January 2025 | 5 replies
.- Cities like Toronto will levy another tax (Vacant Home tax) equivalent to 1% of the current assessed value of the property if the property is not occupied (rented, owner-occupied, family occupied, all count as occupied)- Land Transfer Tax: while the Province of Ontario charges anywhere between 0.5 - 2% of Land Transfer Tax when your transaction closes, you should expect to pay this amount twice if the property is in the City of Toronto .
15 January 2025 | 2 replies
Your brokerage is required to supervise you, and maintain all records of the transaction, just like any other client.

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

23 January 2025 | 39 replies
As you probably read through the comments on this thread, there are many moving pieces, costs, and folks involved in this transaction.

13 January 2025 | 6 replies
The biggest thing with this is if something major happens are you legally covered if the unit is illegally rented.

17 January 2025 | 3 replies
It's really important that you work with an experienced loan officer or broker, especially on a time sensitive purchase transaction.

15 January 2025 | 49 replies
My bank said no problems on their end, and I was never able to reconnect my bank for downloading transactions.