Rental Property Investor · Saint Louis, MO · Member since 2017 · 397 posts · 469 votes
Hello! I'm looking for examples or advice for putting together a balance sheet and personal financial statement to provide to a bank.
I have been investing for about a year and own three properties (7 units total), so the numbers aren't particularly complex yet. I've found some examples online and was planning to put something together myself. Is this a bad idea? Should I be seeking help from a CPA? I obviously want to put my best foot forward, but I also don't know that my situation really requires professional assistance for these documents just yet.
If it helps, I do already have an existing relationship with this bank. I've outlined my plans in real estate for them, and opened a checking and savings account with them to manage all the money related to my rentals.
The bank should have a sample that you can fill out. I also have a very simple spreadsheet that I use to keep track of my net worth. Nothing fancy. Happy to share if you still need it.