This 6 minute ODV shows you in simple, step by step with handholding, how to properly enter a Bad Check from a Tenant or customer.
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QuickBooks For Real Estate Investors
QuickBooks For Investors America's Only Complete System For Real Estate Investors using Quick Books Pro
This 6 minute ODV shows you in simple, step by step with handholding, how to properly enter a Bad Check from a Tenant or customer.
This Short Video shows real estate investors how to enter the Sale of one of your properties, including a wholesale deal.
Short Video shows you how to set up a new loan customer in Investor Books Pro using QuickBooks Pro
12 min video
QUESTION from Steve:
Hello Mike,
I understand your reply of repair versus capital expense so my question must not have been clear...
When I buy a house to resell that will need some repairs, these repairs are a capital expense as the property is not in "service".
To properly see my cash flow in Investor Books PRO when I do a report, I put these fix up costs as an expense (initially). I do this under "repairs and maintenance"
The fix ups will eventually be transferred and re-characterized as a capital expense at a later date thus in the meantime allowing my cash flow report to provide useful information for me as an investor.
My question is when do I transfer this to the asset?
Thank you Mike,
Hope that is more clearer-er
Steve
How To Enter a Purchase in Investor Books Pro using Quick books.
Straight to the point and you can apply this to any deal that you do.
Take it from a Hud 1 settlement, statement, or closing statement.
18 min video
When I began my real estate business, I did not understand "depreciation" until I saw the huge benefits at tax time.
Then I really began to pay attention.
Depreciation: A non-cash expense that reduces the value of an asset as a result of wear and tear, age, or obsolescence. Most assets lose their value over time (in other words, they depreciate), and must be replaced once the end of their useful life is reached.
There are several accounting methods that are used in order to write off an asset's depreciation cost over the period of its useful life.
Because it is a non-cash expense, depreciation lowers the company's reported earnings while increasing free cash flow.
QUESTION:
I understand your reply of repair versus capital expense so my question must not have been clear...
When I buy a house to resell that will need some repairs, these repairs are a capital expense as the property is not in "service".
To properly see my cashflow in Investor Books PRO when I do a report, I put these fixup costs as an expense (initially). I do this under "repairs and maintenance"
The fixups will eventually be transfered and recharacterized as a capital expense at a later date thus in the meantime allowing my cashflow report to provide useful information for me as an investor.
My question is when do I transfer this to the asset?
Thank you Mike,
Hope that is more clearer-er
Steve
QUESTION:
Starting Off With A New Property Using Investor Books Pro
5 min video