QuickBooks For Real Estate Investors
QuickBooks For Investors America's Only Complete System For Real Estate Investors using Quick Books Pro
How to Properly Enter
a $2,000 Earnest Money Check Paid to You
QUESTION from Chuck:
Hey Mike,
I am doing a wholesale deal. I will be doing a double close on it.
I received a $2,000 non-refundable deposit (EM but paid directly to me).
How do I enter a transaction like this. I tried to look it up on the videos but the link is broken. Thanks for the help
I tried to look it up on the videos but could not find this one.
Thanks for the help
Chuck C
QUESTION from Stephen:
Stephen asks:
"Mike, I am selling a property for $123,000 and unfortunately I have to bring a check for $3,000+ to the closing.
I am pulling my hair out trying to enter this HUD 1 Settlement Statement into Investor Books. Please Help Me, Stephen"
QUESTION from Mark:
Hi Mike,
Hope you had a nice Christmas.
Two quick questions.
1) Loans - Land Contract. (Contract for Deed)
Which accounts are used?
I created a new item (Loan Payment under Other Charge) and (Account Uncategorized Income) or do I just use Rent like we do for tenants.
2) Statements Email & Print
Most of my tenants have a email, but several do not.
When I try to email all statements it will not allow me to go forward without having all of them with a email.
If you have to do it separately what is your procedure?
I sure want to save the postage.
--
Respectfully,
Mark Mullet
Your Real Estate Consultant For Life
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
This Short Video shows real estate investors how to enter the Sale of one of your properties, including a wholesale deal.
16 min video