Debbie Rumsey
Organizing the stacks of papers!
I am in serious need of PAPERWORK help! We own 20 doors and I have no problem managing them myself, however, the paperwork is out of control! Does anyone have a system that they use that, for instance, when you need...
Jason Sung
Tax return cost: CPA vs Turbo Tax
Hi, I have a W2 job (my wife stays home and I have two kids) and owns a few SFH as rental. I did tax return last year (including buying two SFH houses, selling one house) through a CPA and he charged me ~$1000. Is thi...
Victor N.
Best Quickbooks ( Desktop Vs Online) for Landlords?
Im currently using a basic Excel spreadsheet to keep track of my properties and tenants. My file is detailed but not enough. Im looking for a software that can help me better manage the finances as well as tenants for...
Philip Hy
Are accountants are worth it? Change my mind.
While I greatly respect accountants, I want someone to explain why they're worth the fee for 90% of buy and hold investors. This year my refund was $3,800. My total tax prep fee was approx $4,200 (not unusual if you a...
Lance Neighbors
Separate accounts for each rental
Hey guys, I have a question! Should I open a separate bank account for each rental I own?
Kate Jones
Keeping track of taxes
Targeting all investors:
Taxes are important. You can write off a lunch conference and save lots. I’m targeting those who really keep track on the tiny expenses to the big ones on a daily basis. Even if you have a bo...
Brad Wood
Accounting and rent payment management
I have bought my first property, a duplex with a rental unit in the basement. Any guidance on the best way to manage rent income and receipts for the tenant? I know one property is fairly simple but I would like to tr...
Jorge Abreu
📄 Performing a Due Diligence
It typically involves the following steps:
1.Seller Deliverables. Request a detailed list of documents and information from the seller, including financials, leases, contracts, capital expenditures, surveys, environm...
Account Closed
Quickbooks Chart of Accounts for 'Ready To Rent' Expenses...
My CPA is asking to categorize the following:"Ready to rent""Repairs""Appliances" To be amortized im assuming, added to the basis of the house. Please let me know how you guys handle the chart of accounts?
Steve Olafson
So, you want to start a REIT?
I went to a convention that is geared toward putting the people with access to money (Broker/Dealers) with the people looking to raise money (sponsors). It turns out that the measly $4,000,000 that I have raised in th...