Since I am very new and green, I'll continue to crowdsource insights/ideas. How do you keep track of your expenses for each property? I want to be able to have separate P&L statements for each property. I am think...
For some, the easiest way to do this is to go through the past 3 months of bank and credit card statements and mark each expense with a letter or highlight them. I got this method from the Profit First system. (They m...
OK, probably NEVER a "quick" question and answer concerning tax, $, etc. But I will try to make it simple. What is the simplest way to compensate one member (of a 2 member-mamged 50/50 LLC that has a couple rentals) f...
Hi All, My Wife, @Sarah Stamper is a flipper starting on her second property now. She does all her flips in a single member LLC to keep our taxes nice and simple. I was planning to get her set up with QuickBooks a...
We have a duplex and a PM taking care of both sides while we work over the road. What software/spreadsheet do you use to track expenses and income? We don't have a LLC or anything, but want to take advantage of tax sa...
Hello, We are a property managing company that rehabs and rents our own properties. I am confused when I comes to the categorization of some items. First Repairs/Maintenance and capital expense, from what I found arou...
Hi all...I'm looking to build my own rental template that's very general to help me quickly run numbers on potential properties. FilePlace has some great forms... though all a bit more advanced and as far as I can see...
BP's, I've searched the documents section and there doesn't appear (or I can't find) a simple excel document for "tracking". I simply want to keep track of the deals submitted where they are (i.e. rejected, waiting f...
Hi, I was wondering what people used to track the income, expenses, late fees, etc for their rental properties. I have 5 units currently and am using a word document I created to track everything, but it is getting q...
What is your biggest pain point with STRs right now? We are working on more resources to help new and experienced hosts here at BiggerPockets. Real feedback of struggles or topics people want to dive in further helps ...