17 November 2014 | 2 replies
Get some bookkeeping software like Quickbooks or the equivalent and start using it.
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15 August 2020 | 41 replies
I like LLCs better for my passive commercial holds only, personally.My reasons for having the mgt corp were for anonymity (it has a very generic name) to pay rents to, credibility (new applicants are more ok giving my corp holding monies), having a 'bad guy' I have to check with for tenant requests, ease of p&l/bookkeeping, 1 place to receive all 1099s for HUD and agency pays, one mileage platform to record on (not every property), retirement account options, a way to obtain health insurance if needed, etc.
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21 March 2022 | 98 replies
You'll learn timeframes, and costs for specific items, you will learn how to deal with tenants, bookkeeping, etc.
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8 February 2016 | 49 replies
I don't think it is uncommon for owners of PM companies to turn their own properties over to their business and treat them exactly the same as any client property (bookkeeping wise).
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25 September 2020 | 17 replies
I use both for several clients of mine as I’m a virtual bookkeeper specializing in property accounting.