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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
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27 December 2024 | 4 replies
Not sure why that happen, however the best way to screen a potential tenant is to see how they have performed in the past.
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30 January 2025 | 24 replies
Hopefully kept good records of improvements / anything to increase the basis2.
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30 December 2024 | 4 replies
Hello BP Community,Unless I am mistaken, Maricopa County (Phoenix, AZ) does not post their probate court records online, unless you can provide specific names or case numbers.
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15 January 2025 | 2 replies
Your brokerage is required to supervise you, and maintain all records of the transaction, just like any other client.
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10 January 2025 | 5 replies
Quote from @Reed Rickenbach: John - as long as you are still following strict screening criteria I agree for single family.
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23 January 2025 | 10 replies
Managing property can either be a lot of work or fairly hands-off—it largely depends on the property’s condition and how well you screen potential tenants.As for deciding between the two property types, it really comes down to your long-term goals.
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14 January 2025 | 4 replies
You also need a leasing agent, unless you are going to advertise and screen tenants yourself.
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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.
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7 February 2025 | 41 replies
I feel like a broken record how often I say this lol but we have cashflow, affordability, growth, and appreciation.