Jason Barnett
GL structure for RE investors?
I'm trying to set up my accounting General Ledger (GL) for my rental company (I manage / operate a 4-unit apartment building). Could some other folks here give me some feedback and let me know how you set up your cha...
Todd Groom
No record of rental income, accountant refusing to accept income.
I have a friend who owns one rental property and rents out a few rooms in his home. He is allowed to rent at least one room in his home legally per county rules. When he tried to report the income to his accountant wh...
Roman Stefaniw
Managing bills, income & accounts
Hello all! Im new to the real estate game and am excited to get started. I am in the midst of negotiations for my first duplex. I do not have an incorporation yet and do not know if its necessary to get one for my fir...
Kulin Dakwala
Bank account for rental income
Hello,With the help of BP community, I am going to close my first SFR soon.This is my first rental and purchasing on my name (not LLC). I do not want to mingle personal account with this rental income & expenses. ...
Bobby Kohler
Rental Income taken into account
Hi, newbie here...I read in a blog somewhere about when banks will consider your future rental income in the loan decision, and now I can't find it. Can someone please tell me when this is the case, what type of loan...
Tracie Van
Quickbooks Online and Bounced Checks
Hope this is the correct forum to post it.I've used QB online for a few years now and like it. But just recently I had 4 bounced checks from tenants. (Two tenants, bounced checks twice - ugh) I use the method of each ...
Brandon Ellis
Personal Loan to LLC
Just curious, how would you do a personal loan to your LLC? What paperwork is required?
Account Closed
Buy assets not liabilities
When you buy assets that produce positive cash flow, you begin to create true wealth for yourself.
When your assets produce positive cash flow than covers all your expenses, you will never have to work again.
Corey Duran
Suggestions for custom income/expense accounts for accounting software
Most software (I use Buildium) comes with standard income/expense accounts. Are there any custom accounts or subcategories you would recommend for write-off purposes or just a general overview of a property at the end...
Larry Flanagan
Quickbooks reports
How can I get quickbooks to show me all the cash in and out of a property that I bought, fixed, refi'd, rented, refixed, and sold? I am trying to come up with some IRR calculations on some deals I have completed.