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Commercial Real Estate Investing

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Wells Mangrum
  • Investor
  • Eau Claire, WI
11
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25
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Quickbooks

Wells Mangrum
  • Investor
  • Eau Claire, WI
Posted Sep 22 2016, 13:23

I invest in commercial real estate and want to use Quickbooks to track my income, expenses, assets and liabilities.  I am looking for resources for commercial real estate investors to enhance their use of Quickbooks.  Are there any recommendations?

I already purchased and read Nancy Neville's book at mylandlordsbookkeeper.com  I found it to be useful but geared toward residential real estate investors.  For example, her proffered chart of accounts and items lists are not aligned toward a commercial real estate investor; also her templates do not fit well with a commercial investor.   Still it was a useful resource.  

I am interested in learning more about using Quickbooks for commercial real estate transactions such as how to expense CAM expenses to multiple tenants.  I also am interested in how others track depreciation of properties that have segregated rates of depreciation.  How do you use Quickbooks to create 10 year proformas (the Quickbooks 1 year budget is not my thing)?  Should I set up and use the fixed asset manager and loan manager?  What useful reports do people create and how often?  

I watched the Quickbooks Training on-line seminars available via quickbookstraining.com.  I listened to the Mastering Quickbooks 1 and 2 lecture series and the Accounting lecture series (about six days of lectures).  They were all excellent background material on Quickbooks but obviously not geared toward Commercial real estate.

I have not yet purchased the landlordaccounting.com e-book.  I am considering that as a next step.  I am also considering Faust's book on fasttracconsulting.com but it is out of print and expensive.  

Any advice on what to read next? I want to really master this as I value excellent records to help guide my investing decisions.

Thanks in advance.

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