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Category: Buying

How to Enter Cash Purchase Using a Silent Private Lender

Posted on August 6, 2019April 12, 2022 By Mike Butler
QUESTION from Stacey:
 
Hi Mike,
 
I've watched every video that I have access to, but I am still unclear on how to put in my private loan balances. 
 
For example, I purchased a property last year. I borrowed money from a private lender, account and then paid cash at closing. 
 
I entered the closing statement as a check.
 
Where do I enter the $50,000 loan I'm paying on every month? (I memorized a check I can send every month, but I don't know where to put the balance of the loan.)
 
If I could have help with one of these properties, 
then I am hopeful  I could input the rest of them correctly. 
 
Please advise! Thanks!
 
Stacey
 
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HOW TO VIDEOS, INVESTOR BOOKS, Borrow Money, Closing Statements, Memorized Transactions, Buying

How to Properly Enter Buying Real Estate with Seller Financing

Posted on August 4, 2017April 12, 2022 By Mike Butler

19 min video

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HOW TO VIDEOS, INVESTOR BOOKS, Borrow Money, Buying

QuickBooks Pro – Buying Non-Performing Mortgages

Posted on August 24, 2015March 16, 2022 By Mike Butler 2 Comments on QuickBooks Pro – Buying Non-Performing Mortgages

QUESTION from Joseph:

We are creating a investment syndication for buying and working out non-performing mortgages in an LLC entity.

Each member will require a capital account for their investment dollars and be able to receive pro-rata shares of profits, return of capital and losses (if any).

Will the Investor Books software support the bookkeeping for the syndication?

Thanks,

Joseph

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INVESTOR BOOKS, Buying

QuickBooks Real Estate – Buying 3 Properties On One HUD 1 Settlement

Posted on February 7, 2014April 14, 2022 By Mike Butler 1 Comment on QuickBooks Real Estate – Buying 3 Properties On One HUD 1 Settlement

QUESTION from Kyle:

Hi Mike,

Love the software still and have a unique question.
 
I just purchased 3 properties from the same seller and we did it all on one HUD. I know I need to enter the HUD exactly as I received it, but the question is I need to separate the properties because we are going to be selling them separately and splitting the profit on each one.
 
Should I just enter the HUD as it is, then make separate accounts for each properties so they show up separately for when we sell them and have to enter a selling HUD?
 
Obviously the HUD we used to purchase the 3 properties will have a big balance on it even after we sell 1 property. It seems it may be tricky to balance this all out.
 
Hope I confused you with this. Thanks.
 
Kind Regards,
Kyle J. Weimer

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HOW TO VIDEOS, INVESTOR BOOKS, Buying

QuickBooks for Real Estate – Wholesale Deal

Posted on December 10, 2012March 16, 2022 By Mike Butler

QUESTION from Kyle:

Hi Mike,

Love IBP!! (Investor Books Pro System)

I've been doing some co-wholesaleing deals where as I receive a 30% check of our NET wholesale fee.

How would you prefer to enter that into IBP beings that I don't have any closing statements or anything?

Which label/class would you put on it so it records it as profit correctly?

Thank you sir.

Regards,

Kyle Weimer

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INVESTOR BOOKS, Buying, Selling

How To Enter Buying Real Estate using Borrowed Money

Posted on April 21, 2012April 18, 2022 By Mike Butler

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

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HOW TO VIDEOS, INVESTOR BOOKS, Borrow Money, Buying

Starting Off With A New Property Using QuickBooks For Real Estate

Posted on April 11, 2011April 18, 2022 By Mike Butler

Starting Off With A New Property Using Investor Books Pro

5 min video

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HOW TO VIDEOS, INVESTOR BOOKS, Buying

How To Enter Real Estate Purchase with a Loan in QuickBooks Pro

Posted on December 28, 2010April 18, 2022 By Mike Butler

18 min video

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HOW TO VIDEOS, INVESTOR BOOKS, Buying

QuickBooks How To Enter Hud 1 When Buying With Cash

Posted on May 16, 2010April 18, 2022 By Mike Butler 1 Comment on QuickBooks How To Enter Hud 1 When Buying With Cash

How to Enter HUD 1 Closing/Settlement Statement When Buying Real Estate with Cash

31 min video

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HOW TO VIDEOS, INVESTOR BOOKS, Buying

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  • GETTING STARTED (4)
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    • STEP 1 – "Post Office Method" Accounting Training (1)
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