One of my favorite investment strategies is the “BRRR” method! (That’s Buy, Rehab, Refinance, Rent). But how do you deal with all of that in QBO? This video answers that exact question! I demonstrate how to record the purchase of a property with a hard money lender, renovate using a construction loan and refinance with a conventional bank! Enjoy!
Per your specific request, here is a super helpful tutorial on how to set up an Advanced Loan Amortization Schedule in Google Sheets (or excel). This lesson demonstrates how to account for additional principal payments throughout the loan. Play with the numbers to figure out your revised payment schedule and how much you can save over the course of the loan!
QBO is jam-packed with really powerful reporting. But sometimes it’s just not enough for the unique nuances on your real estate investment business. In this exclusive video, I provide access to a full lesson from Real Estate Accounting Bootcamp! This lesson focuses on exporting your data to Google Sheets for dynamic visual graphs and reports. Check it out!
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If you're in the Rental Property Management game, your likely charging your tenants late fees. After all, you get charged late fees on your bills/ mortgage payments....your tenants should carry that burden as well! With Quickbooks Online's new "Late Fees" feature, we can now set up late fees to automatically get added to past due invoices. Check out this video where I break down exactly how to set this up!
"Projects" is a relatively new QBO feature. It serves as an all-in-one reporting feature for those of use who use QBO to track renovations, rehabs or any other project with a start/ finish date. In this video, I show you how to best utilize Projects in order to accurately track your construction expenses and make use of powerful built-in reporting!
It's time to settle the ongoing Quickbooks/ Real Estate debate! How do you separate project-specific reporting? By customer or by class? Here I discuss the pros and cons of each strategy while ultimately delivering my personal recommendation... (Hint....the customer is always right!)
In direct response to an audience question (thanks Andy from TX!), here’s a step by step guide for setting up Quickbooks Online to track your rehabs. Learn how to set up your Chart of Accounts, utilize “Projects” and ultimately track your construction expenses!
The most common question regarding REI accounting: “How to translate an HUD?” Here it is! A step by step guide to recording the purchase of property!
We all love QBO to manage our rental business. The best part is getting paid! This video demonstrates how to properly account for these rental payments to keep your business organized and your cashflow humming!
One of the major frustrations associated with Quickbooks Online is the inability to handle multiple businesses. Technically, you would need separate subscriptions for each business. This can be very frustrating for those of us with multiple businesses....all of which do similar things. I've come up with a workaround using QBO "Location Tracking"....check it out here!