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Category: Selling

Earnest Money Paid To You When Selling a Property

Posted on June 24, 2017April 12, 2022 By Mike Butler

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

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HOW TO VIDEOS, INVESTOR BOOKS, Closing Statements, Earnest Money, Escrow Accounts, Selling

Selling Real Estate When Seller MUST Bring Money to Closing

Posted on May 5, 2014April 14, 2022 By Mike Butler

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"

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HOW TO VIDEOS, INVESTOR BOOKS, Selling

QuickBooks Question on Installment Sales and Statements

Posted on December 26, 2013March 16, 2022 By Mike Butler

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

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INVESTOR BOOKS, Selling

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 the Sale of Your Property – QuickBooks for Real Estate Training Video

Posted on August 20, 2012April 18, 2022 By Mike Butler 2 Comments on How to Enter the Sale of Your Property – QuickBooks for Real Estate Training Video

This Short Video shows real estate investors how to enter the Sale of one of your properties, including a wholesale deal.

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HOW TO VIDEOS, INVESTOR BOOKS, Selling

How To Enter The Sale of Real Estate with a Loan on it (Not Paid For)

Posted on January 25, 2011April 18, 2022 By Mike Butler

16 min video

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HOW TO VIDEOS, INVESTOR BOOKS, Selling

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  • GETTING STARTED (4)
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