If you paid the mortgage using an account not set up in Quickbooks (ie. personal account) then you will book the transaction as journal entry debit to principal, interest, escrow accounts, and credit to owner's contribution (equity) account. 

I wish someone had told me about that concept when I was just getting started.

Whether you are selling cars or selling someone on a deal, the same concept applies.All these books are classic with lost of good ideas @Darian Norris so you can't go wrong.

It’s a great way to get a grasp on the jargon, concepts, strategies, etc.

I would be interested if anyone has had their LLC format challenged, I have a Master that is then the agent my other LLC's im only speculating the concept would hold up, I would love to see some case law and how the different structures have been challenged and the outcome. 

I used to think it would be a good idea, but after reading several books on the topic of financial freedom, I don’t think it would be a good idea at all.To continue with the concepts taught by Robert Kiyosaki, most teachers are in the employee quadrant and they teach from the employee mindset, which tends to fear risk and seek security.

@Mark Ainley, that is a very interesting concept, and i am going to follow this post, i have some student rentals in a market that has down turned a little, and i think that would give my PM a competitive edge in getting these rented. i am going to run that by them. so you would purchase the bond and any damage you would put a claim against while the bonding co. goes after the tenant ?

I now take time to journal each day, mediate, exercise more often, and eat slightly better (Need to still be better here)!

@Michelle Harley Not familiar with the concept...if a bank won't touch it and you can't insure the title, there is a strong likelihood this is not a good deal...I suppose you could research title to make sure it's clear...and if there is no lien then ask the seller to carry a note/mortgage...the only cash you need is what you agree to with the seller as a down payment...

The career path of the founder reveals how she parlayed her experience as a Wall Street analyst and reporter for the Wall Street Journal into her present role as the executive producer and managing editor of her own TV show.Back in the 2000s, a real estate investor who had done a couple of successful real estate deals decided she wanted to meet other locals doing real estate and started the San Jose Real Estate Investors Club (the club still exists, but the founder has moved on).