Recommendation for Bookkeeping?
Hello Everyone,
I hope everyone is having a Merry Christmas!
I'll give a bit of back story before posing my question in order to get the best response to my situation.
I have been doing all of our bookkeeping for our real estate business. We have been doing BRRR deals and I have been able to handle all of the bookkeeping so far.
We are looking looking at a few areas to expand our current operations. I have been talking with a few non performing note investors as well as some flippers. We are entertaining the concept of doing a JV in the near future. In both cases it will be equity deals.
I can see either path will most likely be just beyond my bookkeeping abilities. I'm looking to hear what others have done to get over this hurdle without breaking the bank.
I currently have a CPA, but he is only involved at year end and takes forever to get back to me on any bookkeeping questions I have. I'm not sure if this is normal or if it's not really his lane.
So what sort of bookkeeping / accounting systems or arrangements do you have with your financial advisors? National firm or Local? Bookkeeper or Accountant? Frequency of contact: weekly, monthly or quarterly? What should one expect to pay for a relatively small amount of bookkeeping for a new operation?
If you have one that is taking clients and has affordable rates I would be interested in their contact info or company name as well.
Currently looking for a solution that is scalable. I currently only spent about 1 - 2 hrs a month doing the books. Time isn't the issue though, it's the complicated JV accounting that I'm just not sure how to properly account for.
I may be over complicating things but I'm interested in hearing what others have done.
Thanks,
Jeff V