Accounting! Outsource it!

4 Replies

Guys! 

If you are just starting out---- build your team!!!! And most importantly- hire a dang accountant! As you grow and grow BRRR or doing whatever bs strategy you are doing make sure to keep detailed and accurate accounting for your properties, depreciation schedules, expenses etc! Do not rely solely on your PM- they are not CPA's! PM's only issue cashflow reports etc, not depreciation schedules! Build to Grow!

Don't ask me how I learned this... unless you want me to kick my neighbors Cat tonight! Best, Benjamin 

WOOT WOOT! Awesome post. 

One point to post out, Not all CPAs have real estate experience. CPAs won't do your daily operations accounting. Get a local or a virtual accountant to be your "in-house" accounting department.

Originally posted by @Simon W. :

WOOT WOOT! Awesome post. 

One point to post out, Not all CPAs have real estate experience. CPAs won't do your daily operations accounting. Get a local or a virtual accountant to be your "in-house" accounting department.

 Yes you are correct. CPA's who are also RE Investors are gold. I also believe in having a Accountant for your personal expenses but that is a different topic as well good sir.