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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
ANSWER from Mike
I enter the expenses of the rehab “Improvements”
– NO, NO, NO
– when you buy any property,
everything and anything you do to or on this property…
Click to Access Video or Read More
How to Properly Enter
a $2,000 Earnest Money Check Paid to You
If You are a Licensed Real Estate Agent, You will deposit it into your Broker’s Escrow Account
QUESTION:
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
Anthony Cordova
Registered Active Single User License
7 min video
How To Properly Enter a Cash Out Refi
or any Refinance
18 minute video
Click the Link Below This Video To View
Question from Marietta Grimes:
“Mike, when I am creating statements, a DUE DATE appears in the description area on every statement charge. How Do I Remove This? Thanks – Marrieta”
Click the link below this video to view
Monday, December 10, 10:49 am
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