Category: INVESTOR BOOKS

QuickBooks for Real Estate Question about S-Corp Borrowing Money

Posted on By Mike Butler 2 Comments on QuickBooks for Real Estate Question about S-Corp Borrowing Money

QUESTION from Kyle:

My S-Corp is debt capitalized with a 50K loan. I’ve spent some on business expenses etc. My s corp now owes the loan money. Also, in my loan agreement, I pay the loan 25% of my NET profits from each rehab I sell. I big percentage, but it’s a family loan. Gotta help the fam!!

What would be your best method to set this up in Investor Books to keep track of  the loan and money I spend against it and therefore owe it. And also to keep track and divvy up my net profits after selling each rehab? A video or written reply would be greatly appreciated.

Thank You Mike

Kyle

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INVESTOR BOOKS, Borrow Money

QuickBooks For Real Estate – Repairs vs. Capitalized

Posted on By Mike Butler

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

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INVESTOR BOOKS, Capitalized, Repairs, TENANT TRACKING

How Depreciation Benefits Real Estate Investors and Business Owners – Simple Version

Posted on By Mike Butler
Special Report – How Depreciation Benefits Real Estate Investors and Business Owners
First of ALL: Do NOT Allow Yourself To Feel Bad about not knowing.

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.

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INVESTOR BOOKS, Depreciation

How To Use Repairs and Capitalized Expenses in QuickBooks Pro

Posted on By wizard

QUESTION:

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 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

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HOW TO VIDEOS, INVESTOR BOOKS, Capitalized, Repairs, Year End

My Computer Got A Virus! What About My QuickBooks Pro Files?

Posted on By Mike Butler

QUESTION:

I ordered your book/cd tenant tracking module which was a great help but I’ve recently got a virus on my computer and had to switch to my other one. I’m having a problem restoring all the old files.
 
I tried install everything but can’t seem to restore any of my old files back  to the tenant tracking module.
 
Can you help me out?
 
Art C.
 
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INVESTOR BOOKS, TENANT TRACKING