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Category: Repairs

FLIPS and Rehabs, Question from Randy

Posted on August 26, 2017March 16, 2022 By Mike Butler

FLIPS and Rehabs

QUESTION from Randy:

When I buy a house to rehab and flip,
I enter the expenses of the rehab,
Do I enter it as an repair expense?

I do a close out report and I am showing a Capitalized expense,
I do not know how It got there. Help Please

Randy

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INVESTOR BOOKS, Capitalized, Flips, Rehab, Repairs

QuickBooks For Real Estate – Repairs vs. Capitalized

Posted on June 6, 2012March 16, 2022 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, Workshop Videos

QuickBooks for Real Estate Flips How To Enter Repairs

Posted on March 9, 2011March 17, 2022 By Mike Butler

QUESTION from Steve:

Hello Mike,

I looked through the Investor Books Manual and did not see this ...

When doing a flip, the repairs will be a capital expense versus an ordinary expense.

How are you booking the repairs?

Steve

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INVESTOR BOOKS, Flips, Repairs, Troubleshoot

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