Residential Real Estate Investors
Real estate investors don't fit into any simple mold. Some people buy and hold properties for cash flow and tax benefits while others enjoy the hunt for hidden treasures they can fix and sell. Some prefer single family residences or the occasional duplex while others target duplexes, quads and small apartment buildings. Of course, there are many who fall in between.
Owning rental properties can provide great tax benefits, a source of steady cash flow and wealth building opportunities.
An effective accounting and record keeping function can provide the following;
-All records necessary for your tax accountant to prepare the most advantageous and accurate return with all proper back up.
-Your ability to examine the performance of your portfolio as a whole and on a property by property basis. Much like any other investment you own, it is necessary to understand your rate of return and if you are managing the property to its highest and best performance.
-If you decide to the sell a property your QuickBooks based accounting and record keeping function will allow easy access to all records necessary to present your property effectively and back up the sale price.
-Financing for more properties or to refinance your current portfolio. Whether you use a traditional bank style lender or a private, hard money lender, the more current and accurate information you can provide the lender the better your chances to negotiate the most favorable terms.
Buy and Sell Investors
-Track all costs in order to reduce taxable gain.
-Analyze the rate of return on your projects.
-Provide a track record of your experience when presenting to sources of your financing.
The only way to make a profit in any business is to charge enough to cover all your direct costs and overhead expenses and still have money left over.
It's easy to know if you've made a profit when every transaction is complete in a day. It isn't as easy in construction, where a job might take a week, a month, or even more than a year to complete.
I will put together an accounting, document and workflow management system that will provide valuable insight on the profitability and efficiency of each of your jobs. Much of the focus of this system is on proper tracking and allocation of material and labor expenses correctly, allowing the contractor to accurately analyze each job.
Accounting Services for Real Estate Investors